FICCI Urges Reforms Amidst Rising US Tariffs on Indian Imports
Harsha Vardhan Agarwal, FICCI President, called for transformative reforms in India to counteract the US's increased import tariffs. He emphasized the need to simplify business processes, attract investments, and strengthen the industrial economy and services sector to harness India's vast potential and support its growth ambitions by 2047.
- Country:
- India
Harsha Vardhan Agarwal, President of FICCI, highlighted on Thursday the critical need for transformative reforms at both national and state levels, especially as the US has raised import tariffs on Indian goods by 25 percent. Agarwal urged for simplified business practices and increased investment to unlock India's growth potential.
The FICCI leader emphasized enhancing the industrial economy and services sectors, recalling India's history of overcoming challenges through resilience. He implored government and industry alike to narrow their focus on reforms and seize current opportunities to strengthen economic foundations.
Agarwal suggested pursuing market reforms, expanding PLI schemes, and focusing on infrastructure and digital economy investments. These steps, he argued, are essential for achieving India's goal of becoming a developed economy by 2047, especially with the pressing issue of new tariffs labeled as "unfair" by the government.
(With inputs from agencies.)
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