RBI governor Sanjay Malhotra is of the view that the tariffs imposed on Indian exports are an opportunity for the sector. In a post RBI policy press conference, Malhotra told reporters that the impact of tariffs has been 'minimal'. US President Donald Trump in August imposed 50% tariffs on Indian exports to America, 25% of which are for India's crude oil imports from Russia. India and the US have resumed discussions for a bilateral trade agreement, but the former has drawn its red lines on sensitive sectors like agriculture and dairy, while at the same time stressing on its strategic autonomy in deciding its sources of energy procurement.