He explained that the overall withdrawal of capacities from various markets due to the imposition of tariffs has created an unprecedented opportunity for both India and Japan.
Munjal pointed out that these two countries are well-positioned to navigate the current situation better than others, as they are eager to strengthen their relationship with the US and enhance bilateral trade.
While Munjal acknowledged that India could also be affected by Trump’s country-specific and sector-specific tariffs, such as those on steel, he expressed optimism that the special relationship between India’s Prime Minister, Narendra Modi, and President Trump could help mitigate the impact by fostering constructive discussions on trade.
However, he cautioned that uncertainty remains due to the US President’s frequent new announcements, in a world already unsettled by wars and trade disputes.
Munjal also noted that India is experiencing a general upward trend in consumption, which had previously been constrained. He added that some turnaround is expected following the Finance Minister’s budget announcements, which aim to leave more money in people’s hands.
He expressed hope that increased savings, reduced family debt, and higher consumption would drive demand for additional capacity and capital expenditure.
(Edited by : Vivek Dubey)
