Steep American tariffs imposed by US President Donald Trump have upended India’s export outlook, hitting key sectors like engineering goods and auto components.
Top experts weigh in on how Indian companies can convert the crisis into an opportunity.
Check out the detailed report in the latest issue of India Today Magazine.
Top experts weigh in on how Indian companies can convert the crisis into an opportunity.
Check out the detailed report in the latest issue of India Today Magazine.
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NewsTranscript
00:00Top Experts on How India Should Weather the Trade Tsunami Unleashed by US President Donald Trump
00:11Montek Singh Andhualia
00:12Lower Tariffs
00:14It will reduce domestic production costs and improve competitiveness
00:17Allow Exchange Rate Depreciation
00:19This will offset domestic producers' disadvantages vis-a-vis US imports
00:23Sign FTAs with UK, EU and other big economies
00:26It will ensure access to large markets
00:29Join Regional Trading Blocks
00:31The fears of giving China dutifully access is a deterrent for India to join the RCEP
00:35It could apply to the CPTPP, which has 12 countries but not China
00:38Amitabh Kand
00:40Deregulate and deregulate
00:42Make India the easiest place to do business in
00:44Scrap all useless rules, regulations and procedures
00:47Modernize the regulators
00:49They must act as developmental bodies coming out of their command and control mode of functioning
00:53Implement labor laws
00:54This must be done without any delays
00:56Reduce duties
00:57Duties on inputs and components that go into manufacturing and exports should come down to zero
01:01Shivshankar Menand
01:03Improve neighborly ties
01:05Aim for integration of the subcontinent, the Indian Ocean region and alliances like the Quad
01:09Adjust policy towards China
01:11Trump's actions have opened up geopolitical space for China
01:14Undertake defense reforms
01:15These have been long overdue and have become imperative
01:18R.C. Bhargava
01:19Stop hiding behind custom duties
01:20Industry must endure some pain to become globally competitive
01:23The role of states to increase
01:25They should provide infrastructural support to industry
01:27Place the company above your needs
01:29This mantra should guide top managements in both investments and policy
01:32For more on how India can weather the trade tsunami unleashed by the US
01:37Check out our cover story in the latest issue of India Today magazine
01:40The