Policy dilemma: ‘We need to think hard’ on whether Russian oil imports are worth it; Nobel laureate Abhijit Banerjee links issue to US tariff removal

Nobel laureate Abhijit Banerjee suggests India reassess Russian oil imports due to increased US tariffs, potentially impacting $27 billion in exports. He proposes leveraging trade negotiations with the US and China, including reconsidering investment restrictions. Banerjee also advises exploring ASEAN membership while acknowledging China’s greater importance, and expresses concerns about India’s economic growth and middle-class strain.