India’s new growth plan in Trade War – MSME, Tourism and Reforms Key | Paisa Live | India’s New Growth Plan in Trade War – Key to MSME, Tourism and Reforms

The new tariffs, which come into effect from 27 August, have created even more vivid tension in the India-US trade war. Import duty on many Indian products will increase by 50%, while trade talks between India and the US are currently staying. In the midst of this tension, the question arises whether India can turn this pressure into an opportunity? Mahindra Group Chairman Anand Mahindra has described the situation as a ‘brainstorm’ process like the 1991 foreign exchange crisis, from where the country caught the direction of a new progress. He suggests that India will now have to accelerate the pace of its reforms, especially to promote ‘Ease of Doing Business’ for tourism and business. He also called upon the states to come together to create a single window system, which can give investors a fast, transparent and reliable environment. In addition, it will be necessary to strengthen the MSME sector through liquidity assistance, better infrastructure, and production-linked incentive (PLI) schemes. So the question is, is India ready to write a new economic development story by turning this crisis into an opportunity? Come, know your views on this important subject!