How Can India Become Greater Amid US Tariffs? Insights from Anand Mahindra

New Delhi, Aug 6 (NationPress) Prominent industrialist Anand Mahindra stated on Wednesday that India has an opportunity to elevate its status in light of the 50 percent tariffs imposed by the US. This moment should be seized to cultivate a virtuous outcome for the nation.

According to the Chairman of Mahindra & Mahindra (M&M), the law of unintended consequences is subtly influencing the current tariff conflict instigated by the US.

He noted that while the EU appears to have adapted to the shifting global tariff landscape, leading to strategic responses, it has prompted Europe to reconsider its security reliance, resulting in increased defense spending in both France and Germany. This shift has also led Germany to relax its stringent fiscal policies, which might foster a revival in Europe’s key economies, potentially providing the world with a new growth engine.

In Canada, longstanding internal trade barriers are being addressed, moving towards the establishment of a unified market that bolsters economic resilience.

“Both these ‘unintended consequences’ could produce lasting benefits for global growth. Shouldn’t India also take this opportunity to forge a positive outcome for itself? Just as the 1991 forex reserves crisis spurred liberalization, could the current global tariff debate yield some ‘Amrit’ for us?” questioned Anand Mahindra.

He emphasized the necessity for India to significantly enhance the ease of doing business and go beyond mere incremental reforms to create a truly effective single-window clearance system for all investment initiatives.

“Although state governments oversee several investment regulations, we can initiate a collaboration among willing states aligned with a national single-window platform. If we can showcase speed, simplicity, and predictability, we can position India as an irresistible destination for foreign investment in a world seeking reliable partners,” stated the industrialist.

He highlighted tourism as one of the most underutilized sources of foreign currency and employment.

“We must expedite visa processing, enhance tourist services, and establish dedicated tourism corridors around existing attractions with guaranteed security, hygiene, and sanitation. These corridors could serve as exemplary models, inspiring other regions to elevate their standards,” he added.

A wider action agenda should include bolstering liquidity and support for MSMEs, accelerating infrastructure investment, promoting manufacturing through the expansion of PLI schemes, and rationalizing import duties to lower those on manufacturing inputs, thus improving competitiveness, he suggested.

“Let the unintended consequences we create be intentional and transformative. While we cannot blame others for prioritizing their nations, we must be inspired to make our own country greater than ever,” concluded Anand Mahindra.