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Picture Credit: Narendra Bisht
India is better prepared to manage trade disruptions caused by tariffs introduced by US President Donald Trump, said ITC Chairman Sanjiv Puri.
He noted that ongoing fast-paced discussions for a possible Free Trade Agreement (FTA) with the US could significantly improve the situation.
Trump had imposed reciprocal tariffs on several countries, including India.
He delayed implementation by three months for most, but hit China with a 125% tariff.
However, a 10% additional duty on Indian exports to the US remains and the reciprocal tariffs will likely take effect on 9 July.
When asked about the impact on Indian industries, Puri said it’s too early to predict the full outcome.
Still, he believes India will be in a stronger position moving forward.
“It’s difficult to say how it will evolve, but my own sense is that at the end of it, I think India is going to be much better placed, because we do see the possibility of several FTAs being inked, which industry has been looking forward to for some time, hopefully during the year, whether it’s the EU, UK, and, of course, the US, where there is, I think discussions, dialogue happening at a faster rate,” Puri noted.
India and the US have been negotiating a bilateral trade agreement since March.
The goal is to finalize the first phase by fall and double bilateral trade to $500 billion by 2030.
Puri acknowledged that India’s consumption-led economy might face short-term uncertainty.
Still, he pointed to the country’s competitiveness, digital growth, and future-ready industries as key strengths.
Speaking at the AIMA summit during a session titled ‘Resilience and Growth in the New World Disorder’, Puri asserted, “So while short-term uncertainty, unpredictability may be causing some kind of impact on global growth also…a consequent little impact on India will be also there.”
He stressed the importance of agility and having empowered teams to adapt to rapid policy changes.
ITC’s strategy includes diversifying its portfolio, adopting sustainable packaging, and investing in innovation and digital tools.
The company also focuses on resilient supply chains and climate-proof infrastructure.
ITC continues to develop human capital through rural development hubs and vocational training.
Sustainability remains central to its business strategy, with programs like Climate Smart Agriculture and green infrastructure initiatives.
Puri also pointed out that quick commerce is reshaping the consumer goods space. It is pushing traditional companies to adopt new skills and operating models.
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