Don't yield to pressure in US trade talks: Amitabh Kant
Former G20 Sherpa Amitabh Kant told India to "never yield to pressure" while working out a trade deal with the US.
Speaking at a recent event, he urged India to stay calm and strategic, especially after the US announced it will double tariffs on Indian imports from August 27 by adding an additional 25% on top of an existing 25% duty because of India's ongoing oil trade with Russia.
Kant sees tariff hike as opportunity for bold reforms
Kant sees the tariff hike as a rare chance for India to push bold reforms.
He suggested making GST simpler, speeding up startup registrations, and improving personal income tax rules.
He also pointed out that sectors like tourism could be less affected by these new tariffs.
India should turn challenges into opportunities through long-term reforms
Kant encouraged looking beyond short-term setbacks, saying India should turn challenges into opportunities through long-term reforms.
He highlighted that 12 high-potential states could help boost GDP growth toward 9%.
Brushing aside claims that India is a "dead economy," he said the country remains the fastest-growing major economy and is headed for third place globally.