India Inc rallies behind roaring brand India as US tariff spat escalates
Brand India
calling for supporting Indian brands and improving ease of doing business, tourism and infrastructure, days after a series of statements by US President Donald Trump on the
Indian economy
and doubling of US tariffs on India to 50%.
Britannia Industries
managing director Varun Berry, industrialist Harsh Goenka, Mahindra Group chairman Anand Mahindra, Eternal (Zomato) founder Deepinder Goyal and Nadir Godrej, chairperson,
Godrej Industries
group, are among the chiefs who have either posted their views on social media platforms such as LinkedIn or X, or said so in statements.
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"A time to rethink how Brand India revamps its plans to surge forward. No reason why India can't shine brighter than any other economy in the world," Berry, also chief executive of Britannia, wrote on LinkedIn on Thursday.
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Trump tariffs cast a pall of gloom over India's exports, investments and Rupee
ET Bureau
"Serious infrastructure build with world class cities, ease of doing business at a much elevated level with a revamp on land and labour laws, attractive tourist centres to get the world to experience the richness of Indian history and culture, safety and security, serious focus on customer service, and support India-made brands to gain serious heft," he added.
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Trump imposed an additional 25% tariff on Indian goods over India's purchase of Russian oil the White House announced on Wednesday. The announcement came hours after talks between the Washington and Moscow over the war in Ukraine ended in an impasse.
"You can tariff our exports, but not our sovereignty. Raise your tariffs- we'll raise our resolve, find better alternatives, and build self-reliance. India bows to none" Harsh Goenka, chairman, RPG Enterprises, posted on X.
ET Bureau
The government and India Inc are of the view that India has become a key target in the US' pressure to control the Russia Ukraine war.
"Every few years, the world reminds us of our place. A threat here, a tariff there. But the message is the same: stay in your lane, India," wrote Eternal's founder Deepinder Goyal on X. "Global powers will always bully us, unless we take our destiny in our own hands. And the only way to do that is if we collectively decide to become the world's largest most unapologetic superpower in the world. In economy, in technology, in defence, and most importantly, in ambition. There is absolutely no other way," he added.
ET Bureau
Meanwhile, New Delhi called the tariffs "unfair" and "unjustified". The new rate will come into effect within 21 days.
"We cannot fault others for putting their nations first. But we should be moved to make our own nation greater than ever. India must go beyond incremental reform and create a genuinely effective single-window clearance system for all investment proposals," Mahindra Group chairman Anand Mahindra posted on X.
"The shift in the locus of global supply chains, fuelled by geopolitical realignment and evolving tariff structures, has placed brand India at a unique inflection point. Strong local demand, a young and skilled workforce, and vibrant ecosystem has positioned India as a preferred global partner," Nadir Godrej, chairperson, Godrej Industries group, told ET.
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