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Bloomberg Quint
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India Sees ‘Opportunity Of A Lifetime’ In Trump’s Trade Policy
- India's Commerce Minister, Piyush Goyal, sees an 'opportunity of a lifetime' in the disruptions caused by Donald Trump's reciprocal tariffs.
- Goyal believes that the changes in global trade will not only bring fairness to supply chains but also benefit India.
- He mentioned that India has the chance to turn the current situation into an advantage and called it an opportunity of a lifetime.
- India's stance differs from China and the EU, as it is focused on negotiating a bilateral trade deal with the US rather than imposing retaliatory tariffs.
- Despite potential growth drag following tariffs, Goyal expressed confidence in India's economy due to its large domestic demand.
- Major companies like Apple are considering India to diversify their supply chains and mitigate the impact of tariffs.
- India is also engaged in negotiations with other trading partners, including the EU, the UK, and the US, while being cautious about strategic investments from China.
- Goyal emphasized the need to safeguard India's strategic interests and mentioned restrictions on market access to EV giant BYD.
- In summary, India sees the current global trade disruptions as an opportunity to strengthen its position in international trade and establish beneficial trade relationships.
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