Bikky Khosla | 10 Apr, 2025
After a week 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 me more is how these moves by the US impact countries like ours. Reciprocal tariffs of 26% have been announced on Indian imports. I admire how our government is handling the situation. It has not reacted with emotion, but with maturity. New Delhi has chosen a path of strategic restraint, watching carefully instead of jumping into a trade skirmish that doesn’t serve our long-term interests.
My only concern is that Washington doesn’t mistake our cautious approach for weakness. That would not go well for the US either. We cannot afford to be pushed around. Not by tariffs, not by threats.
I remember very well during the peak of the COVID-19 pandemic, the US withheld raw materials for N95 masks. But instead of pleading with them, we began manufacturing them ourselves. That’s the kind of resolve we need now — self-reliance backed by 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 and rather a global force with ambition, talent, and leverage.
I think the world is waking up to the dangers of over-reliance on any one power. And I believe India has the chance to lead by example with its calm in the storm, but unafraid to take a stand.
Meanwhile, there is an upside to this. With the cumulative tariff on China now at 104% after an additional 50% was added by Trump again, the tariffs on Chinese goods going to the US is now so high that it will be almost impossible for China to sell any product at a competitive price in the US. So this opens the doors for India to capture the market share in the US across various industries that China currently dominates.
So there is always a silver lining even in the midst of dark clouds.
I invite your opinions.
