In 2013, India was among the 'fragile five' economies besides Brazil, Indonesia, South Africa and Turkey which bore the brunt of taper tantrums.

In 2013, India was among the 'fragile five' economies besides Brazil, Indonesia, South Africa and Turkey which bore the brunt of taper tantrums. In 2025-26 it is Trump tantrums, playing out with a similar adverse effect. 2026 is poised to be a very rough ride for India as global headwinds might worsen. The rupee has already touched 92 to a dollar and the Economic Survey admits it is punching way below its weight. Trump has created massive uncertainty for the Indian business environment. The Economic Survey admits that the rupee is punching waybelow its weight.