Surat – The Southern Gujarat Chamber of Commerce and Industry (SGCCI) on Monday, August 18, 2025, organised a special session on the theme “Trump Tariff War: Deal or No Deal – Why It Does Not Matter Much for India.” The discussion provided insights into how India should view the ongoing global tariff tensions as an opportunity rather than a crisis.
The keynote speaker was Dr. Engineer Sunil Parekh, Chairman of CERC, senior strategy advisor to Indian multinationals such as Zydus Lifesciences and Jubilant Group, and founding curator at the World Economic Forum in Geneva. He explained international economic challenges in simple terms, offering clarity on India’s position in the changing trade environment.
Chamber president Nikhil Madrasi highlighted that the Trump-led tariff conflict would not have a direct or major impact on India’s economy, as the country’s strong internal demand makes it resilient. As per agency report, Dr. Parekh underlined that exports form only a small part of India’s GDP, which limits the long-term negative impact of American tariffs. He also pointed out that the recent upgrade of India’s credit rating by S\&P Global reflects the country’s robust long-term growth potential.
Dr. Parekh stressed the importance of diversifying markets, noting that while the US remains an important export destination, sectors such as textiles, diamonds, and chemicals must explore opportunities in Europe, Japan, Korea, Latin America, and Africa. He cited examples of Canada and Mexico, whose heavy reliance on the US makes them vulnerable to tariff shocks, while China’s broader market reach makes it less affected. Many such nations are now looking towards the European Union and other markets to reduce their dependence.
He recommended that India move quickly to sign free trade agreements with countries like Japan and Korea to reduce risks from tariff disputes. He also outlined measures that could be taken at the national, institutional, and company levels to safeguard trade interests.
The session was attended by SGCCI vice president Ashok Jirawala, honorary secretary Bijal Jariwala, past presidents Ramesh Vaghasiya and Sharad Chandra Kapadia, along with several entrepreneurs and exporters. The event was conducted by group chairman Sanjay Punjabi.
