New Delhi: US President Donald Trump’s decision to impose a 50 percent tariff on Indian goods has sparked concern across global markets, but Indian industrialists are choosing to see opportunity amid the turmoil.
With 25 percent of the tariff already in effect and the remainder to be implemented by August 27, the move is expected to significantly affect Indian exports.
Despite the potential economic blow, top Indian business leaders have responded with optimism, describing the situation as a modern-day ‘Amrit Manthan’—a mythical churning that produced both poison and nectar.
Mahindra Group chairman Anand Mahindra likened the current global trade turbulence to the 1991 economic crisis that led to India’s liberalisation. He said that just as India turned that crisis into a transformative moment, it could once again extract something positive from today’s disruptions.
“The global tariff war is creating new directions in the world economy,” Mahindra said, noting that countries like France and Germany are beginning to reduce dependence on others for their security, while simultaneously making key economic policy shifts. Germany’s changes, he believes, could become the new engine for European growth.
Mahindra also pointed to Canada, which has begun dismantling internal trade barriers to facilitate free trade between provinces—a move that could further strengthen its economy.
These shifts, though triggered by external pressures like Trump’s protectionist policies, could yield long-term benefits for global growth, he said.
Echoing similar sentiments, industrialist Harsh Goenka said that India “does not bow down to anyone,” and viewed the situation as a chance for India to strengthen its global trade positioning.
As the tariff battle unfolds, Indian industry leaders are urging the country to seize the moment, adapt swiftly, and turn the crisis into a strategic economic gain.
