Key Points
US tariffs could accelerate India's high-quality production
Modi-Trump trade talks may yield results in months
MSMEs need tech support for global competitiveness
Pharma exports exempted but textiles may face challenges
He expressed confidence that under Prime Minister Narendra Modi's leadership, India can turn the current trade challenges into an opportunity for growth.
"Prime Minister Narendra Modi and US President Donald Trump administration share good relations, and the Indian government is working on a bilateral trade agreement. The outcomes of these agreements could be seen in the next four to five months," Mehta told IANS.
"This is an opportunity for India, and under Prime Minister Modi's leadership, it is the right time to push for 'Atmanirbhar Bharat' and 'Make in India.' We must focus on producing high-quality products," he added.
Mehta emphasised that while the tariffs pose challenges, India's economy is resilient, and new opportunities can be explored to minimise the impact.
He stressed the need for strong support for the Micro, Small, and Medium Enterprises (MSME) sector and access to alternative markets.
"Additionally, we should consider providing technological support to the MSME sector so that their products are fully prepared to compete at the global level and fetch the right value in the market," he stated.
Speaking to IANS, Mehta said that such a move is unprecedented and will have a global trade impact. However, he highlighted India's strong economic position, noting that the country is one of the fastest-growing economies with a vast market and high domestic consumption.
He also pointed out that Indian pharmaceutical exports have been exempted from the tariffs, which is a positive development for the sector.
Mehta acknowledged that industries like textiles, gems and jewelry, and electronics, which have a strong presence in the US market, might face challenges.
"However, the ongoing bilateral trade negotiations between India and the US could bring positive outcomes by September or October this year," he added.
Comments:
Sarah M.
This is exactly the kind of positive thinking we need! Turning challenges into opportunities is what will make India a manufacturing powerhouse 💪 #MakeInIndia
Rajesh K.
While I appreciate the optimism, I hope the government has concrete plans to support MSMEs beyond just words. Many small businesses are struggling with basic infrastructure issues.
Ananya P.
The pharmaceutical exemption is great news! India is already a leader in generic medicines. This could be our moment to shine even brighter globally 🌟
Vikram T.
I run a small textile business and honestly worried about these tariffs. Hope the government's negotiations bear fruit soon. The wait till September feels too long...
Neha S.
Quality over quantity should be our new mantra! If we can match global standards in manufacturing, no tariff can stop us. Let's up our game! 🚀
Amit J.
The focus on technology support for MSMEs is crucial. Many small manufacturers still use outdated methods. Digital transformation could be our secret weapon in this trade war.
