ITC Chairman Sanjiv Puri, ETCFO
India is a lot better positioned to cope with disruptions emanating from Trump tariffs as there’s a risk of signing an FTA with the US for which discussions are occurring at quick tempo, ITC Chairman Sanjiv Puri stated. US President Donald Trump imposed reciprocal tariffs on many nations, together with India, which he later postponed by three months aside from China on whom a 145 per cent tariff has been slapped. Nevertheless, a ten per cent further obligation on exports to the US will proceed. The reciprocal tariffs have been suspended till July 9.
When requested in regards to the influence of such tariffs on the home trade, Puri stated it will likely be tough to say the way it will evolve, however India shall be a lot better positioned on this.
“It is tough to say the way it will evolve, however my very own sense is that on the finish of it, I feel India goes to be a lot better positioned, as a result of we do see the potential of a number of FTAs being inked, which trade has been trying ahead to for a while, hopefully in the course of the yr, whether or not it is the EU, UK, and, after all, the US, the place there may be, I feel discussions, dialogue occurring at a quicker fee,” he stated.
India and the US have been engaged in negotiating a bilateral commerce settlement (BTA) since March. Either side have focused to conclude the primary section of the pact by fall (September-October) of this yr with an purpose to greater than double the bilateral commerce to $500 billion by 2030.
Puri famous that although India’s consumption-driven economic system might face some short-term uncertainties, its levers of competitiveness, digitisation and future-ready portfolio has a lot to supply.
“So whereas short-term uncertainty, unpredictability could also be inflicting some sort of influence on international progress additionally…a consequent little influence on India shall be additionally there,” he stated whereas talking in a hearth chat – Resilience and Progress within the New World Dysfunction at AIMA summit.
On ITC, Puri stated additionally it is a “extra domestic-focused trade” and should face some influence as a result of US tariffs.
He emphasised the necessity for agility and empowered groups to navigate speedy modifications within the tariff construction.
ITC’s technique to cope with uncertainties consists of diversifying its portfolio, investing in sustainable packaging, and leveraging digitalization and innovation.The corporate emphasizes supply-side resilience, climate-proofing infrastructure, and agile, empowered groups.
ITC’s human capital growth focuses on built-in rural growth hubs and vocational coaching. Sustainability is built-in into company technique with initiatives like Local weather Sensible Agriculture and inexperienced infrastructure.
The corporate goals to steadiness financial, social, and environmental targets, he stated.
Puri additionally highlighted how the short commerce revolution is difficult conventional FMCG gamers, necessitating new abilities and modes of operation.
