Diversification and strengthening competitiveness within the home market stay key for Indian exporters in sectors reminiscent of textiles, gems & jewelry, agriculture and shrimps to mitigate the affect of the excessive tariffs, the trade our bodies mentioned in separate statements. The feedback come amid the US imposing 50% tariffs on a spread of Indian merchandise.
“Indian financial system continues to exhibit resilience and energy amid world headwinds, underpinned by a big and vibrant client base, sturdy macroeconomic fundamentals, continued financial reforms and enterprising companies,” Federation of Indian Chambers of Commerce & Trade president Harsha Vardhan Agarwal mentioned.
“Exporters throughout textiles, gems & jewelry, agriculture and shrimps face steep duties, but they’re accelerating diversification into Africa, Latin America, Europe and Asean, whereas strengthening competitiveness at dwelling,” mentioned Assocham president Sanjay Nayar.
In addition they highlighted the necessity to help small enterprises.
Dwell Occasions
“Time to show challenges into benefit by diversifying our commerce, selling our micro, small and medium enterprises (MSMEs), strengthening our agriculture and constructing new world alliances,” mentioned Rajiv Memani, president of the Confederation of Indian Trade.
Corporations are additionally wanting past tariff cycles, with lots of them “upgrading worth chains by AI, clean energy and EVs, guaranteeing future readiness”, mentioned PHD Chamber of Commerce and Trade president Hemant Jain.
To efficiently navigate these chaotic instances, India should put money into deep tech, Zoho Corp chief government Sridhar Vembu mentioned.