On the current tariff announcement by US president Trump on India, PHDCCI President, Hemant Jain stated that as the United States recalibrates its trade policy and imposes higher tariffs across major exporting nations including China, Vietnam, and Bangladesh it is clear the world is entering a new phase of supply chain realignment. While Indian MSMEs are momentarily impacted, this is also an opportunity. With global buyers looking to de-risk from overdependence on select geographies, India is emerging as the most credible, democratic, and scalable alternative.
We have the demographic dividend, the technological agility, and the entrepreneurial depth to meet global demand across sectors from engineering goods and textiles to pharmaceuticals and electronics. Now is the time for Indian industry to step up with quality, compliance, and competitiveness. And with China and Vietnam facing similar tariff headwinds, India stands to gain long-term trust, diversified market share, and stronger positioning as a resilient global partner. Let us view this moment not as a setback, but as a springboard, he added.