The broader consensus seems to be that India should capitalise on what could be the unintended consequences of Trump's tariff wars. Pranjul Bhandari, chief India economist at HSBC, believes that "potential US tariffs may have become a catalyst for reforms. ".

India may not be severely impacted by Trump's reciprocal tariffs set for April 2, as the specifics remain uncertain. Treasury Secretary Scott Bessent suggested potential delays and negotiations, giving India a chance to reach a trade deal and possibly avoid the tariffs.