India will navigate US tariffs imposed by President Donald Trump better than others, said Sanjiv Puri, Chairman of ITC. India is hopeful of signing a free trade agreement (FTA) with the US, which is expected to materialize soon. The US had imposed tariffs on various countries, including India, but has since relaxed them for some countries, with the exception of China.
Despite the potential impact of tariffs, Puri is optimistic about India’s prospects, citing the country’s long-term competitiveness and diversification. He mentioned that India’s economy is consumption-driven, but its levers of competitiveness, digitization, and future-readiness have positioned the country well to deal with disruptions.
Puri noted that while the short-term impact of global uncertainties may affect India to some extent, its prospects in the long run are brighter. ITC, the company he chairs, is also working on diversifying its portfolio, leveraging digitalization and innovation to remain competitive. The company is focusing on supply-side resilience, climate-proof infrastructure, and agile teams to navigate the changing tariff landscape.
The company’s human capital development strategy includes vocational training and integrated rural development, with sustainability integrated into its corporate strategy. ITC aims to balance economic, social, and environmental goals and is exploring new skills and modes of operation in the face of the quick commerce revolution in the FMCG industry. The US tariffs are expected to remain in place until July 9.