After a brief period of economic turmoil and widespread instability, better sense has finally prevailed, with the US President deciding to pause the sweeping reciprocal tariffs for 90 days for all countries except China.
What concerns us more is how these US policies impact countries like India. Reciprocal tariffs of 26%
have been announced on Indian imports. More importantly, we must consider how our government is handling the situation. It has responded not with emotion, but with maturity. New Delhi has chosen a path of strategic restraint – watching carefully instead of rushing into a trade skirmish that does not serve our long-term interests.
The only concern is that Washington should not mistake our cautious approach for weakness. That would not bode well for the US either. We cannot afford to be pushed around-neither by tariffs nor by threats. It is worth remembering that during the peak of the COVID-19 pandemic, the US withheld raw materials for N95 masks. But instead of pleading, we began manufacturing them ourselves. That is the kind of resolve we need now- self-reliance backed by decisive action.
I strongly believe this is the time for India to double down on its Make in India push and reduce dependence on both the US and China. We are no longer just a growing economy-we are a global force with ambition, talent, and leverage. The world, too, seems to be waking up to the dangers of over-reliance on any single power. India now has the opportunity to lead by example – with calm in the storm, but unafraid to take a stand.
Meanwhile, there’s an upside to this situation. With cumulative tariffs on China now at 104%- after an additional 50% was added by Trump- it has become nearly impossible for Chinese goods to remain competitively priced in the US. This opens the door for India to capture market share across various industries where China currently dominates.
