Jindal on Tariff Impact: Minimal Effect on JSW Group
Parth Jindal, MD of JSW Group, stated that new US tariffs on Indian goods will not affect their business but could impact sentiments in India. He assures that industries are resilient, with the Indian government actively finding solutions to boost affected sectors like gems, textiles, and auto components.
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JSW Group's Managing Director, Parth Jindal, claimed there will be no direct impact on their operations due to the recent 50 per cent tariff imposed by the Trump administration, though Indian sentiments may suffer. Jindal, who also leads the group's paint division, expressed these views Thursday.
Describing the additional 25 per cent tariff as 'very unfortunate,' Jindal urged the industry to align with the Indian government's approach, which seeks to safeguard national interests amid trade negotiations. The tariff hike by the US has complicated a potential trade deal, as demands for greater access to India's markets remain unresolved.
Jindal noted that while the steel, cement, and power industries will remain largely unaffected, the broader impact on India's exports—particularly in sectors like gems, textiles, and auto components—could reach $76 billion. He emphasized the efforts of industry bodies and the government to counteract these challenges, stressing the necessity of aligning with governmental strategies in the interest of India's populace.
(With inputs from agencies.)
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