5 days Ago By Amarmani Pal
India will be able to tackle the impact of US tariffs efficiently, as there is a possibility of signing a Free Trade Agreement with the US, said Sanjiv Puri, ITC Chairman. The US has postponed the imposition of tariffs by 90 days, except for China, which has been hit with a 145 per cent tariff. Further Puri said, it is difficult to say on the impact of tariffs on the domestic industry now as the measures are still evolving, but India will be much better placed in this.
"It's difficult to say how it will evolve, but my own sense is that at the end of it, I think India is going to be much better placed, because we do see the possibility of several FTAs being inked, which industry has been looking forward to for some time, hopefully during the year, whether it's the EU, UK, and, of course, the US, where there is, I think discussions, dialogue happening at a faster rate," he said. India and the US have been holding negotiations about a Bilateral Trade Agreement(BTA) since March and are aiming to conclude the first phase of the pact by September-October, 2025. Both countries aim to double the bilateral trade to USD 500 billion by 2030.
ALSO READ : India Is Not Fighting Back On Tariffs, Because It Doesn’t Have To - EXPLAINED Puri highlighted that though India may face short-term uncertainties, on the other hand it has a lot to offer due to competitiveness, digitisation and future-ready portfolio. "So while short-term uncertainty, unpredictability may be causing some kind of impact on global growth also..
.a consequent little impact on India will also be there," he said while speaking in a fireside chat - Resilience and Growth in the New World Disorder at AIMA summit. On ITC, Puri said it is also a "more domestic-focused industry" and may face some impact due to the US tariffs.
ITC is focusing on diversifying its portfolio, investing in sustainable packaging, and leveraging digitalisation and innovation. The company emphasises supply-side resilience, climate-proofing infrastructure, and empowered teams. The company seeks to strike a balance between economic, social, and environmental objectives, he said.
Puri also emphasised that the quick commerce companies are challenging traditional FMCG players, to upskill and update modes of operation. Get Latest News Live on Times Now along with Breaking News and Top Headlines from Budget 2025, Companies,Economy, Business Economy and around the world..
