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 not too long ago introduced 25% tariff on Indian items. In response to Trump’s tariff, Billionaire Harsh Goenka has shared a submit on social media platform X (previously generally known as Twitter) urging individuals to stay calm. In a submit on social media, Goenka said, “No need to panic… knowing India Inc, we will do what we always do — adapt, innovate, and thrive.” Goenka additionally emphasised that India ought to deal with the tariff hike as a possibility to journey the “China+1” shift and we ought to actively pursue the commerce partnerships with ASEAN nations and Europe. He additionally harassed on the truth that key sectors resembling metal, prescribed drugs and IT exports will largely stay unaffected by this new tariff regime.

What Billionaire Harsh Goenka stated on Trump’s 25% tariff on India

Sharing his ideas on the 25% tariff imposed by US President Donald Trump on Indian exports, he stated that India ought to stay calm and check out to work to convert this problem as a possibility. In a submit 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 Pharma: No impact Infra & Towers: Barely a scratch Tyres: Only agri tyres meaningfully impactedAnd 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 additional said that India’s IT, pharmaceutical and metal sectors will largely stay untouched by this tariff announcement. Goenka’s assured stance displays a perception that Indian companies, recognized for his or her 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 shiftIndia’s playbook: turn pressure into opportunity!” added Goenka.

Trump’s tariff desk: Where India stands

US President Donald Trump introduced 25% tariff on India through a submit on Truth Social. Trump stated that tariff is a part of a broader commerce technique which penalizes international locations with excessive non-monetary commerce limitations and powerful 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, international locations like Japan and the EU get pleasure from decrease charges of 15%, and others like Vietnam and Indonesia are capped at 20%.