India, Aug. 12 -- The 50% tariff imposed by the US government on Indian merchandise exports goes beyond just trade economics and represents complex geopolitical issues that, hopefully, will get resolved over time. This is an opportunity for the industry and the government to work together to accelerate economic reforms and make India truly competitive. Indian industry stands behind the government and will do whatever it takes to make the country an economic superpower.

In the short term, we certainly need to accelerate bilateral agreements with the European Union (EU), and other countries and trading blocs. Second, immediate relief needs to be provided to the impacted sectors, especially labour-intensive micro, small and medium enterpris...