Uday Kotak , Founder & Director, Kotak Mahindra Bank has shared his views on the reciprocal tariffs announced by the US administration last week. In a post on microblogging site X, Kotak wrote “Trump tariffs. World in a tizzy.” He also quoted Russian revolutionary and politician Vladimir Lenin in his post stating “Famous Lenin quote: there are decades when nothing happens, and weeks when decades happen.” He further referenced the 1973 Organization of the Petroleum Exporting Countries ( OPEC ) oil crisis, where Arab countries stopped selling oil to the US, causing global energy prices to rise around the world and leading to long-term economic shifts. The Middle East then gained influence, while others, including the US, faced inflation and stagflation.
Trump’s tariffs came into effect on April 5, 2025. The ‘Liberation Day’ tariffs caused a $5 trillion drop in S&P 500 value over two days, according to Al Jazeera, raising fears of a global trade war, inflation, and economic slowdown. Indian benchmark indices Sensex and Nifty fell sharply on Monday (April 7), following a global market selloff. BSE Sensex closed at 73,137.90, falling 2,227 points or 2.95%. The Nifty50 settled at 22,161.60, down 743 points or 3.24%, marking largest single-day decline in 10 months.
What Uday Kotak said about Trump Tariffs
“Trump tariffs. World in a tizzy. Famous Lenin quote: there are decades when nothing happens, and weeks when decades happen. In 1973, OPEC cartel changed rules on energy prices. Despite chaos then, 50 years later, the Middle East gained, many others lost. Where will this end?,” Kotak wrote in the post.
India may be a ‘potential winner’ of Trump’s tariffs, experts say
Days after the announcement, India said that it does not plan to retaliate against US President Donald Trump 's 26% tariff on imports. Instead, the tariffs could be a chance for countries that "take significant steps to fix one-sided trade deals," a government official told news agency Reuters. India believes it has an advantage because it started trade talks with the U.S. early. This puts it in a stronger position compared to other Asian countries like China, Vietnam, and Indonesia, which are now facing higher U.S. tariffs, another official said.
Organisations like the Federation of Indian Export Organisations (FIEO) and the Global Trade Research Initiative have also acknowledged that India may be in a better spot than its competitors– and could benefit from the tariffs if it plays its cards right.
Trump’s tariffs came into effect on April 5, 2025. The ‘Liberation Day’ tariffs caused a $5 trillion drop in S&P 500 value over two days, according to Al Jazeera, raising fears of a global trade war, inflation, and economic slowdown. Indian benchmark indices Sensex and Nifty fell sharply on Monday (April 7), following a global market selloff. BSE Sensex closed at 73,137.90, falling 2,227 points or 2.95%. The Nifty50 settled at 22,161.60, down 743 points or 3.24%, marking largest single-day decline in 10 months.
What Uday Kotak said about Trump Tariffs
“Trump tariffs. World in a tizzy. Famous Lenin quote: there are decades when nothing happens, and weeks when decades happen. In 1973, OPEC cartel changed rules on energy prices. Despite chaos then, 50 years later, the Middle East gained, many others lost. Where will this end?,” Kotak wrote in the post.
Trump tariffs. World in a tizzy. Famous Lenin quote: there are decades when nothing happens, and weeks when decades happen. In 1973, OPEC cartel changed rules on energy prices. Despite chaos then, 50 years later, the Middle East gained, many others lost. Where will this end?
— Uday Kotak (@udaykotak) April 6, 2025
India may be a ‘potential winner’ of Trump’s tariffs, experts say
Days after the announcement, India said that it does not plan to retaliate against US President Donald Trump 's 26% tariff on imports. Instead, the tariffs could be a chance for countries that "take significant steps to fix one-sided trade deals," a government official told news agency Reuters. India believes it has an advantage because it started trade talks with the U.S. early. This puts it in a stronger position compared to other Asian countries like China, Vietnam, and Indonesia, which are now facing higher U.S. tariffs, another official said.
Organisations like the Federation of Indian Export Organisations (FIEO) and the Global Trade Research Initiative have also acknowledged that India may be in a better spot than its competitors– and could benefit from the tariffs if it plays its cards right.
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