Trump tariffs opportunity for India to emerge as resilient trading partner: Industry

New Delhi, Aug 27 (PTI) US President Donald Trump's 50 per cent tariff on Indian goods poses challenges but is also an opportunity for India to strengthen its role as a resilient and future-ready trading partner, industry bodies said on Wednesday.

The 50 per cent tariff effective from August 27 is set to hit major sectors, including textiles, gems and jewellery, shrimp, leather, footwear, chemicals, and machinery.

FICCI President Harsha Vardhan Agarwal said the Indian economy continues to demonstrate resilience and strength amid global headwinds, underpinned by a large and vibrant consumer base, robust macroeconomic fundamentals, continued economic reforms and enterprising businesses.

According to him, the proposed next-generation goods and services tax (GST) reforms announced by the Prime Minister will give a further boost to India's growth.

PHDCCI President Hemant Jain said while global trade tensions pose challenges, Indian exporters are actively expanding into ASEAN, EU, and African markets, reducing dependence on traditional partners and sustaining long-term competitiveness.

"Supported by Atmanirbhar Bharat initiatives and advancing FTAs, India is turning global challenges into opportunities for reform, innovation, and expansion, proving that tariffs may test resilience but cannot stall India's industrial momentum," he added.

ASSOCHAM Secretary General Manish Singhal also described the US tariff regime as not just a challenge but an opportunity for India to strengthen its role as a resilient and future-ready trading partner.

"By deepening partnerships with developed economies, diversifying markets, and advancing bold reforms, we are building a competitive and trusted economic ecosystem," he added. PTI RSN TRB