6 days Ago
ITC ’s Chairman and Managing Director, Sanjiv Puri, believes that tariff uncertainty across the world could create new opportunities for India in global markets. Despite the uncertain situation, India could benefit from signing more bilateral trade agreements. “We are hopeful that we will see trade deals with the EU and the UK this year, not just the US.
These deals can help Indian industries become part of global value chains,” Puri said. He pointed out that around 70% of global trade happens through these value chains. Puri added that India already has strong economic momentum.
“Even with uncertainty, India will keep moving forward and stay a resilient economy, as we have shown in the past,” he said. Read Here | India to prioritise national interest over FTA deadlines: Piyush Goyal Puri noted that the EU has been in talks with India for nearly 20 years and these agreements can bring big opportunities if Indian industries invest in innovation, intellectual property, and other areas to make the most of it. “All agreements should be mutually beneficial.
We must be careful about rules of origin,” he said. He warned that as new trade rules emerge, some countries may dump their goods in India due to higher tariffs elsewhere. “This is already happening in sectors like steel, paperboard, and chemicals.
The good news is that the government has set up a group to monitor such dumping. Quick action is needed, and we are encouraged by the steps the government is taking,” he added. Also Read | Manish Chokhani says Indian market wants to rally — but is waiting for this trigger.
