Chennai, Sept. 19 -- Elgi Equipments Limited, the world's sixth-ranked air compressor major, is considering setting up a plant in a suitable overseas location amid the uncertain global economic situation and the US tariff regime.
According to Jay Varadaraj, Managing Director, the company is exploring structural solutions, including manufacturing in other countries, due to the recent 50% import duty imposed by the US on Indian goods.
Queried about the impact of the 50% import duty imposed by the US on Indian goods Jay Varadaraj, Managing Director said: "The company was not impacted when the first 25% tariff was levied. However when the US announced the second 25% tariff hike, we have decided to look at multiple structural solutions, includ...