US tariff tactics: India Inc says country should turn this crisis into an opportunity

‘India should focus its energies into further strengthening its industrial economy and the services sectors’
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ArLawKa AungTun

As the US cranks up the heat on India, slapping additional tariffs, India Inc believes the country can turn this adversity into an opportunity. Top head honchos, founders and industry bodies were united in their belief that India should not bow down to US’ bullying tactics and, instead, focus on becoming a developed economy.

In a social-media post on X, Deepinder Goyal, Founder & CEO, Eternal, which owns Zomato and Blinkit, stated: “Every few years, the world reminds us of our place. A threat here, a tariff there. But the message is the same: stay in your lane, India. Global powers will always bully us, unless we take our destiny in our own hands. And the only way to do that is if we collectively decide to become the world’s largest most unapologetic superpower in the world. In economy, in technology, in defense, and most importantly, in ambition. There is absolutely no other way.”

FICCI President Harsh Vardhan Agarwal said India should focus its energies into further strengthening its industrial economy and the services sectors. Stating that India’s collective resolve can turn adversity into opportunity, Agarwal added that this is the time to take “ahead transformative reforms both at the Central and State level, making it simpler to do business, attract more investments and fully leverage the potential our country offers”.

“By pursuing factor market reforms, expanding the coverage of the PLI scheme, doubling down on infrastructure investments and deepening the digital economy, we can leverage the entrepreneurial energy of our people and aim for even faster growth. Our collective resolve in making India a developed economy by 2047 should be the only guiding factor, for all actions we take, and our national interests should remain paramount,” he noted.

RPG Enterprises Chairman Harsh Goenka said in a post on X: “You can tariff our exports, but not our sovereignty. Raise your tariffs- we’ll raise our resolve, find better alternatives, and build self-reliance. India bows to none.”

“India has consistently turned global crises into opportunities for structural reform and growth — from liberalisation in 1991 to digital acceleration post-Covid. In response to current trade disruptions from global tariff wars, India can strengthen its resilience by investing in advanced technologies, expanding renewables, simplifying compliance, and diversifying trade partnerships. These steps will position India as a competitive, future-ready economy,” said Harsh Pati Singhania, CMD JK Paper & Director JK Organisation.

Mahindra Group Chairman Anand Mahindra said on X: “Just as the 1991 forex reserves crisis triggered liberalisation, can today’s global ‘Manthan’ over tariffs yield some ‘Amrit’ for us?” He recommended radical improvement in ease of doing business, stepping up investments in infrastructure, expansion of PLI schemes and leveraging on tourism as a forex exchange engine among others. 

Published on August 7, 2025

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