Viral Acharya, ex-RBI deputy governor said greater competition means Indian firms will be forced to raise their standards to take on global rivals. That, in turn, means higher quality jobs and a larger manufacturing base.

Acharya, who was a deputy governor at the RBI between 2017 and 2019, said large firms that had benefited from the protectionist measures will initially lose some value, but the economy will benefit

US tariffs threats by Trump are pushing India to lower trade barriers, spurring competition and growth. Modi sees it as a big opportunity for businesses. Ex-RBI Deputy Governor Viral Acharya expects Indian firms to innovate and improve efficiency.