Billionaire Harsh Goenka on Trump's 25% tariff on India: No need to panic... knowing India Inc, we will do what ...
US President Donald Trump recently announced 25% tariff on Indian goods. In response to Trump's tariff, Billionaire
Harsh Goenka
has shared a post on social media platform X (formerly known as Twitter) urging people to remain calm. In a post on social media, Goenka stated, 'No need to panic… knowing India Inc, we will do what we always do — adapt, innovate, and thrive.' Goenka also emphasised that India should treat the tariff hike as an opportunity to ride the 'China+1' shift and we should actively pursue the trade partnerships with ASEAN nations and Europe. He also stressed on the fact that key sectors such as steel, pharmaceuticals and IT exports will largely remain unaffected by this new tariff regime.
What Billionaire Harsh Goenka said on Trump's 25% tariff on India
Sharing his thoughts on the 25% tariff imposed by US President Donald Trump on Indian exports, he said that India should remain calm and try to work to convert this challenge as an opportunity. In a post on X Goenka wrote, '
25% tariff? Sounds steep. But no need to panic. India, in fact, remains better positioned than many peers, barring a few like Vietnam, the Philippines, Indonesia and South Korea.
Looking at our own RPG portfolio:
Software: No impact
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Pharma: No impact
Infra & Towers: Barely a scratch
Tyres: Only agri tyres meaningfully impacted
And knowing India Inc, we will do what we do best- find innovative workarounds, turn adversity into advantage, and bring some classic jugaad into play .And who knows, with some clever diplomacy, TACO (Tariff and Commerce Optimization) and not (Trump Always Chickens Out), might just become part of the next trade meal deal.'
Goenka further stated that India's IT, pharmaceutical and steel sectors will largely remain untouched by this tariff announcement. Goenka's confident stance reflects a belief that Indian businesses, known for their agility and entrepreneurial spirit, will not be deterred by protectionist measures. '
Trump's 25% tariff on India? -opportunities:
- Pharma & steel largely safe
- IT exports untouched
- Scope for 'Make in America' via JVs
- Time to woo Europe, ASEAN
- Ride China+1 shift
India's playbook: turn pressure into opportunity!' added Goenka.
Trump's tariff table: Where India stands
US President Donald Trump announced 25% tariff on India via a post on Truth Social. Trump said that tariff is part of a broader trade strategy which penalizes countries with high non-monetary trade barriers and strong ties to Russia.
'Remember, while India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country. Also, they have always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE — ALL THINGS NOT GOOD! INDIA WILL THEREFORE BE PAYING A TARIFF OF 25%, PLUS A PENALTY FOR THE ABOVE, STARTING ON AUGUST FIRST. THANK YOU FOR YOUR ATTENTION TO THIS MATTER. MAGA!,' wrote Trump.
While China faces a 30% tariff, countries like Japan and the EU enjoy lower rates of 15%, and others like Vietnam and Indonesia are capped at 20%.
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