US Tariffs an Opportunity to Drive 'Make in India' and MSME Growth: PHDCCI CEO

By siliconindia  |  Friday, 04 April 2025, 10:03:48 AM IST

US Tariffs an Opportunity to Drive 'Make in India' and MSME Growth: PHDCCI CEO
In the wake of fears over US retaliatory tariffs, Ranjit Mehta, CEO of PHD Chamber of Commerce and Industry (PHDCCI), commented that it is India's chance at high-quality manufacturing and international business through the 'Make in India' and 'Atmanirbhar Bharat' mission.
He has confidence that in the leadership of Prime Minister Narendra Modi, India can convert present trade woes into a growth opportunity.
Prime Minister Narendra Modi and US President Donald Trump administration have good relations, and the Indian government is negotiating a bilateral trade agreement. The results of these agreements would be visible in the next four to five months, Mehta said to IANS.
This is India's opportunity, and with Prime Minister Modi at the helm, it is the time to drive 'Atmanirbhar Bharat' and 'Make in India.' We should concentrate on manufacturing quality products," he further added.
Mehta stressed that although the tariffs are challenging, India's economy is strong and opportunities can be sought to limit the damage.
He emphasized the necessity of providing strong support to the Micro, Small, and Medium Enterprises (MSME) sector and exposure to alternative markets.
"Furthermore, we can also think about giving technological assistance to the MSME sector so that their products are well-equipped to compete internationally and command the correct value in the market", he said.
Talking to IANS, Mehta explained that such a step is unprecedented and will have a trade impact globally. But he underlined India's robust economic standing, pointing out that the nation is one of the fastest-growing economies with a huge market and high domestic consumption.
He also noted that Indian pharma exports have been exempted from the tariffs, which is a welcome development for the industry.
Mehta accepted that sectors such as textiles, gems and jewelry, and electronics that are heavily dominant in the US market could encounter difficulties.
"But the ongoing two-way trade negotiations between India and the US would yield favorable results by September or October this year", he went on to state.

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