India can be global growth hub amid US-China tariff war: Industry leaders

New Delhi, April 17 (IANS) As tensions continue to rise between the US and China over trade tariffs, Indian industry leaders believe this could be a golden opportunity for their country to position itself as a global hub for innovation and economic growth.

Speaking to IANS on the sidelines of the 120th anniversary celebration of the PHD Chamber of Commerce and Industry (PHDCCI) here, Mankind Pharma Vice Chairman and Managing Director Rajeev Juneja said: "This is a very different kind of scenario."

"There's a tariff war going on between China and America, and at this point, India can become a place of opportunity. I see a super bright future for India. We’re always India-centric," Juneja told IANS.

He also emphasised that while the dream of becoming a global leader in emerging fields like artificial intelligence (AI) may seem far off, India is already on the right path.

"We have to start with baby steps. Many startups are doing well. If the youth get the right support from the government, one day we can hope to become a centre for AI," he said.

He praised the government’s focus on skill development and youth empowerment, pointing to the growing infrastructure and support systems being put in place.

"The government is doing fantastic work. Prime Minister Narendra Modi is very concerned about the youth. Opportunities are being created, and the right steps are being taken," Juneja told IANS.

Hindustan Tin Works Limited Managing Director Sanjay Bhatia echoed a similar sense of optimism.

"This is the best time for India. The way India is progressing and being recognised globally is a great opportunity for our industries. The government is working on ease of doing business, and we hope even more steps will be taken," Bhatia told IANS.

He added that India is well-positioned to absorb global shocks like the recent tariff hike by the US. "Our fundamentals are strong. These global shocks are temporary. India is back on track," he added.

On the rise of AI, Bhatia said India has the resources and talent to lead in the field. "Indians are already contributing to AI globally. If we retrain our existing workforce and equip them with new skills, we can ensure job continuity and generate new employment," he said.

The event, held at the PHD House, saw Lok Sabha Speaker Om Birla launch a special coffee table book to mark the Chamber’s legacy. Past Presidents of PHDCCI were also honoured for their contributions to India’s industrial growth.

--IANS

pk/vd