India's FinMin shields economy from geopolitical shocks

New Delhi, Aug 1 (PTI) The finance ministry is doing weekly capital review of all public sector undertakings and is working on strategies that can insulate the Indian economy from geo-political risks, DIPAM Secretary Arunish Chawla said on Friday.

The secretary in the Department or Investment and Public Asset Management (DIPAM) said public sector enterprises now account for almost 15 per cent of total market capitalisation and the government is confident they will continue with their capital expenditure.


"We are doing capital review of all public sector undertakings on a weekly basis and we are working on strategies which can insulate our economy from geo political risks," Chawla said.

US President Donald Trump has announced 25 per cent tariffs on India, plus a 'penalty' for its trade with Russia. The tariffs will come into effect from August 7.

The tariffs have rattled equity markets with Sensex and Nifty declining sharply for the second straight session on Friday, tracking deep losses in pharma, metal, and IT stocks amid trade-related concerns and widespread selling pressure in global markets.