Trump's economic policies 'self-destructive' for US too: RBI ex-Governor Rangarajan

Former Reserve Bank Governor C Rangarajan on Friday said that certain economic policies of US President Donald Trump not only brought global economic trends to a standstill but were also "self-destructive" for the North American nation.

Addressing the 15th Convocation of Icfai Foundation for Higher Education here, Rangarajan, without naming BRICS, said the emergence of different blocks of countries within which trade is freer is inevitable, but the ultimate goal must be one large world with freer trade.

"The world today is in flux. The pursuit of certain economic policies by President Trump has brought world trade to a standstill. Hopefully, good sense will prevail and the policy makers in the US will realise the policies they want to pursue are self-destructive. India is the worst hit," the former Chairman of Prime Minister's Economic Advisory Council said.

He further said the vision of Viksit Bharat is not just a statistical goal – it has to be a transformative journey that requires the collective effort of government and society.