A major win for India’s trade ambitions: the fresh US trade agreement exemplifies the country’s economic fortitude and policy ingenuity, according to LIC’s top executive Dinesh Pant. Striking this deal right after the EU pact highlights New Delhi’s masterful negotiation skills.
Pant, in a detailed conversation, described the development as ‘exceptionally positive.’ The tariff cut from 50% to 18% on Indian goods will invigorate exports, particularly in textiles, footwear, and other employment-rich sectors, while enhancing global trust in India’s markets.
Shifting to domestic finances, he applauded the Union Budget’s vision. Finance Minister Nirmala Sitharaman has deftly woven together 2014-era reforms, zeroing in on 2047 development goals and self-sufficiency drives. The GST waiver on individual insurance policies emerged as an early ‘gift’ to citizens, slashing costs significantly.
For insurers, a booming economy means expanded opportunities. LIC is capitalizing on these tailwinds, focusing on GST benefits to spur growth. On investments, Pant stressed a policyholder-first approach: ‘Every buy or sell decision hinges on value and direct benefits to our customers,’ including evaluations for NSE’s public offering.
Unveiled via US President Donald Trump’s social media late Monday, the deal ushers in promising prospects. It reinforces India’s trajectory as an economic powerhouse, blending shrewd diplomacy with solid fundamentals.