India Emerges as a Potential Global Growth Hub Amid US-China Tariff Dispute: Industry Experts
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Synopsis
As the US-China trade tariff conflict intensifies, Indian industry leaders perceive it as a unique opportunity for India to become a global center for innovation and economic vitality, emphasizing youth empowerment and skill development.
Key Takeaways
- Opportunity for India amid US-China trade tensions.
- Focus on youth empowerment and skill development.
- Potential to lead in artificial intelligence.
- Strong government support for industries.
- India's fundamentals are resilient against global disruptions.
New Delhi, April 17 (NationPress) As tensions mount between the US and China regarding trade tariffs, Indian industry leaders are optimistic that this scenario presents a remarkable opportunity for India to establish itself as a global center for innovation and economic advancement.
In an interview with IANS during the 120th anniversary event of the PHD Chamber of Commerce and Industry (PHDCCI), Mankind Pharma's Vice Chairman and Managing Director Rajeev Juneja stated: "This is a unique situation."
He remarked, "With the ongoing tariff conflict between China and the US, India stands as a land of potential. I envision a very bright future for India. Our focus remains India-centric," Juneja told IANS.
Juneja noted that while the ambition of becoming a dominant player in emerging sectors like artificial intelligence (AI) may appear distant, India is on the right trajectory.
"We must take incremental steps. Numerous startups are thriving. If the youth receive adequate support from the government, we can aspire to be a hub for AI in the future," he added.
He commended the government's emphasis on skill development and empowering the youth, highlighting the improving infrastructure and support systems being established.
"The government is performing exemplary work. Prime Minister Narendra Modi is sincerely focused on the youth. Opportunities are being generated, and appropriate measures are being implemented," Juneja mentioned to IANS.
Echoing this sentiment, Sanjay Bhatia, Managing Director of Hindustan Tin Works Limited, shared a similar optimistic outlook.
"This is the perfect moment for India. The pace at which India is evolving and gaining global recognition presents an excellent opportunity for our industries. The government is enhancing the ease of doing business, and we hope for further positive measures," Bhatia told IANS.
He pointed out that India is well-equipped to handle global disruptions such as the recent tariff increase by the US. "Our fundamentals are robust. These global challenges are fleeting. India is back on the path of growth," he added.
Regarding the rise of AI, Bhatia stated that India has the necessary resources and talent to excel in this domain. "Indians are already making significant contributions to AI on a global scale. If we reskill our current workforce and provide them with new competencies, we can ensure job security and create new employment opportunities," he remarked.
The event, hosted at the PHD House, featured Lok Sabha Speaker Om Birla unveiling a special coffee table book celebrating the Chamber’s legacy. Former Presidents of PHDCCI were also recognized for their significant contributions to India’s industrial growth.
