- As the saying goes, whatever happens happens for the good. And some would mention, blessing in disguise. A few others would say adversity always ushers unforeseen but untapped opportunities too. Above all, the time is the best leveller is not lost on the discerning lot, as everything must pass since nothing is constant in life. We are aware that time waits for none. Since time immemorial, humankind has encountered tremendous challenges but has found ways and means to overcome them to ensure the future generation has it that much easier. As the Indian consumer products are thrust with illogical and self-limiting tariffs by the Trump administration, the time has come for us to showcase our resilient counterproductive moves to the world.
PC: Financial Times
- One of the most common factors that could be in a position to cushion the hard blows from the tariff war unleashed by a petulant, egotistic, and impetuous leader is to be seen as a great opportunity to prepare a solid ground for giving further impetus to local consumption. For that to happen, the Indian think tank must focus on identifying which ones are those that would act as a countervailing measure to take on the might of the bullying tactics employed against us. What strikes one immediately is to look at how India can become a global e-vehicle hub with the right incentives and mastery over batteries. With Trump’s 50% tariff kicking in, India must devise both short – and long-term strategies to counter the effect.
PC: India.Com
- As of now, we are made aware that some of the labour-intensive sectors like textiles, gems & jewellery, chemicals, and seafood, among others, will be affected. In order to ensure less impact, New Delhi must use this moment to place a new thrust on domestic manufacturing. A lot has been said about this, but the time has come to make a decisive move. In that context, Maruti Suzuki’s electric car and battery manufacturing plant in Ahmedabad is a significant step. Not only will the plant produce Maruti Suzuki’s first global battery electric vehicle, the e-VITARA, but it will also export the model to over 100 countries from India, including to Europe and Japan. This is a great example of how India can potentially become a hub of global EV manufacturing and export.
PC: Dreamstime.com
- True, Maruti Suzuki has a long history in this country as well as the legacy infrastructure to bet on India for its global foray into EVs. But there’s no reason other automakers can’t be enticed to India for their global expansion. Vietnamese EV-maker VinFast opened its first overseas plant in Tamil Nadu earlier this month with plans to eventually source on manufacture most of its components locally. Instructively, the factory came up just 17 months after the signing of the MoU. But critical to India’s EV push are batteries. Indigenizing the entire supply chain of battery manufacturing, from sourcing and processing minerals to delivering finished batteries for EVs, should be prioritized. The domestic EV and auto manufacturing should move quickly to offset the impacts.
