Bt India@100: “Everyone will look to diversification,” says experts about Trump’s tariff, a hint of a “new world order”

Industry experts who talked about the American tariff and influence after that said. They said that one of the positive repercussions of definitions is that the industry was forced to exploration and diversification.

Ajay Schrifastava, the founder of the World Trade Research Initiative, Agneshwar Sen, Commander of the Commercial Policy at Ey India, Dr. Ajay Sahai, DG & CIO in FIEO, Dr. Harsha Vardhana Singh, Chairman of the Board of Directors IKDHVAJ Travel.

Trump’s tariff was a shock to this industry, as Ajay Sriffastava admitted. He said: “The negotiations are continuing and something must appear soon. The government should congratulate Trump. Everyone was afraid of Trump except for India and China.”

“The rest of the world will continue to think about how to manage the most predictive systems. The World Trade Organization will not remain the same but it becomes multi -ribs. There will be a new global system. The United States will want to continue this type of advantages that they believe today but the world will start making new partnerships,” said Dr. Harsha Vardaana Singh.

Dr. Ajay Sahai said about the impact of definitions that most companies cannot accommodate the 50 % strike. “It is not easy to change the supply chain so quickly … We are not very interested in losing business in the United States in the long run, and we will diversity. But we will take the strike in the short term.”

Agneshwar Sen said 65 percent of trade will now strike, but one cannot be sure of what will happen for 35 percent tomorrow.

To shed light on the importance of free trade agreements, Singh said that the free trade agreements that we have now are very different from free trade agreements that were present in previous times. “Earlier the question was whether we have a free trade agreement, what would cost us that. Today is whether we do not have a free trade agreement what we will lose to our competing economies, because we are much more than we did before.”

Even with free trade agreements, things will not return to roses. Sherfastava said only 28 percent of India’s exports will be exempted, and the rest will be hit. “We are behind China not only in terms of tariffs but also widely, infrastructure and other things. It will be very difficult for exporters,” he said.

Sen added that everyone will search for diversification. He said that there may be expensive markets that have been ignored earlier, but now these countries will take into account.

Nevertheless, many requests already in the pipeline must be canceled, and many small and medium companies will be achieved, Sahai said. “One of the positive repercussions is that the industry has been forced to explore alternative markets. The same with the services sector, which was working well in the United States. Diversification is the silver lining.”

“We have to continue to enhance our local capabilities,” Singh said. “This unconfirmed and high -cost scenario will not end soon. The tariff for trade is no longer only, but many other things,” Singh said.