Over the past decade, the term “supply chain diversification" has gone from being a technical trade term to a real-time necessity. The Covid-19 pandemic, growing awareness about value-chain vulnerabilities and increasing tensions between Washington and Beijing have brought the world in the thick of an all-out trade war. Over the past five years, there were notable efforts undertaken to diversify supply chains away from China. Now, with Donald Trump back as President the idea has got a radical shot-in-the-arm. Where world leaders were previously treading with caution, Trump’s return has forced them to act with far greater urgency. After all, Donald Trump has made it clear that the time to ensure equitable global trade is now, and not a day later. To that end, his sweeping reciprocal tariffs against China present India with a golden opportunity.

Global anxiety peaked since early April, when Trump imposed tariffs on nearly all countries of consequence. Then came the reprieve for all such countries, minus China. As things stand right now, while countries like India face a 10 per cent baseline tariff, Beijing is still figuring out how to cope with the impact that Trump’s 145 per cent tariffs would have not just on its economy, but China’s very identity – which for years has been rooted in domination of global exports.

When Trump imposed the tariffs on April 2, many Modi-baiters emerged from the woodworks – almost like clockwork. They were quick to paint a doomsday picture for India’s economy, not appreciating in the slightest how Trump’s tariffs, in fact, present India with a golden window of opportunity. Why do I say this? Let’s just take a look at India’s growing stature globally. As Trump redefines........

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