Munjal Advocates Tariffs as Catalyst for India Amid Global Trade Tensions

Sunil Kant Munjal, Hero Enterprise Chairman, addresses Trump's tariffs, positioning them as leverage for fair trade. He discusses potential advantages for India and the need for reforms to foster growth. Munjal emphasizes India's non-confrontational global stance, economic growth, and strategic reforms to strengthen its global position.

Sunil Kant Munjal, Chairman of Hero Enterprise, emphasized the role of President Trump's reciprocal tariffs as a strategic tool for achieving fair trade deals globally, particularly benefiting India. Speaking at the Carnegie Global Tech Summit, he underscored that the US, being a major consumer, aims to secure equitable agreements.

Munjal elaborated on the temporary rollback of tariffs for negotiating countries, highlighting its tactical purpose in facilitating comprehensive trade agreements, including with India. He expressed optimism about the long-term benefits for India, citing ongoing dialogues aimed at better trade conditions.

Comparatively, Munjal noted that India's tariffs were lower than those of neighboring countries with similar export profiles. President Trump's stance on tariff reciprocity has triggered global market fluctuations, with concerns about potential economic tensions and a recession.

Addressing India's global image, Munjal pointed out India's non-controversial reputation and proactive roles in initiatives like COVID-19 vaccine distribution and shared technology platforms. He emphasized India's growing economic stature and its potential to play a central role in geopolitics.

Stressing the importance of leveraging current conditions, Munjal advocated further reforms in India, highlighting recent progress since 1991. He urged for reforms in agriculture and small industries, aligning with governmental efforts for expansive reforms, which could enhance India's capabilities and geopolitical influence.

(With inputs from agencies.)