Ongoing Global Tariff War To Benefit India In Long-Term

New Delhi: India could be a beneficiary in the long-term from the ongoing tariff war that could lead to better trade and lowering of barriers, even though there can be short-term shocks, according to Mercedes-Benz India Managing Director and CEO Santosh Iyer. While the Indian automotive segment is not directly impacted by US President Donald Trump’s tariff war, Iyer told PTI that consumer sentiment in the luxury segment is still positive despite a highly volatile scenario globally due to the current geopolitical situation, currency fluctuations and supply chain concerns. “For the first time, we are discussing about opening up of our borders and also opening for two-way trade.

Generally, we have always advocated for more open and fair trade policies that help foster global economic growth and drive innovation as well,” he said when asked about the overall impact of the ongoing tariff war. The free trade, based on low tariffs and reduced trade barriers, has significantly increased international trade benefiting economies and communities, he asserted. “Surely, we support cooperation among the larger economies to reduce the trade barrier and they should help in the long run. In the short term, there may be shocks, but in the long run, better trade and lowering of the trade barriers and better two-way movement of goods and services is always beneficial for the economy as such,” Iyer noted.