India's Strategic Leverage Amidst New Tariff Challenges

In the wake of new global supply chain alignments, PHDCCI's CEO and Secretary General, Ranjeet Mehta, emphasized the 25% tariff imposed on Indian exports to the US as a temporary setback for India's MSMEs. However, he perceives it as a ripe opportunity for India to amplify its market presence.

Mehta noted the recalibration of US trade policy, affecting major exporting nations like China and India, further suggesting that India is viewed as a crucial partner by global leaders aiming to mitigate excessive economic dependence. "Indian demographics, technological innovation, and entrepreneurial spirit provide a competitive edge," Mehta stated.

With recent agreements, like the one with the UK, India positions itself as a steadfast choice for international players seeking stable partnerships amid tariff changes. Contrastingly, US President Donald Trump announced a 25% tariff on Indian goods, citing high tariffs and critical international dealings.

(With inputs from agencies.)