Amid growing concerns over global tariffs and their impact on trade, Maharashtra Deputy Chief Minister Devendra Fadnavis has said that while tariffs might affect certain sectors, they are also paving the way for new business opportunities that could benefit the state in the long run.
Speaking on the current trends in the stock market, Fadnavis expressed cautious optimism. “Tariffs will impact us in some areas, but overall, a business opportunity is also being created for us because of the tariffs, and we are trying to assess that business opportunity and move in that direction,” he said.
Addressing the media, Fadnavis added that the initial impact of the tariffs appears to be moderate, and that the state government is actively analysing areas where Maharashtra can leverage the situation. “I think overall, if we see its impact, there will be a moderate impact. Initially, we think so, and that is why the market is gradually improving,” he noted.
His remarks come at a time when markets are showing signs of recovery after a period of volatility linked to global trade tensions and policy shifts. Industry experts have said that while tariffs could hurt exports in some sectors, they also create room for domestic manufacturing and alternative supply chains, which states like Maharashtra could capitalize on.
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