New Delhi, July 31 || The United States’ decision to impose a 25 per cent tariff on India should be seen not just as a challenge, but also as a major opportunity for the country, industry leaders said on Thursday.
Speaking on the development, Ranjeet Mehta, CEO and Secretary General of the PHD Chamber of Commerce and Industry (PHDCCI) said that the higher duty is not limited to India but also targets other major exporting nations such as China, Vietnam, and Bangladesh, with China and Vietnam facing even steeper tariffs.
He noted that the US is recalibrating its trade policy, leading to a shift in global supply chains.
Mehta admitted that Indian MSMEs and industries may face short-term difficulties due to the tariff, but in the long run, it could help India strengthen its position as a trusted global partner.
“Many global manufacturers are looking to diversify their supply chains away from overdependence on a single geography, and India is emerging as the most reliable choice,” he said.
He added that several companies are now exploring ways to establish their supply chain base in India.