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IFCCI Session on 'Global Trade Dynamics: Understanding Tariffs and Their Impact on International Commerce'

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IFCCI along with Kotak Mahindra Bank hosted a hybrid session on 'Global Trade Dynamics' on Tuesday, 14th October, in New Delhi.

The Indo-French Chamber of Commerce & Industry (IFCCI), in collaboration with Kotak Mahindra Bank, successfully hosted an exclusive hybrid session on “Global Trade Dynamics: Understanding Tariffs and Their Impact on International Commerce” on Tuesday, 14th October, in New Delhi.

In an era where geopolitical landscapes evolve rapidly and trade corridors are continuously being redefined, tariffs have emerged as one of the most influential instruments shaping global commerce, supply chains, and market accessibility. The session explored whether these developments signify a temporary phase of realignment or mark the onset of a new global trade order.

The event commenced with welcome remarks by Ms. Aarushi Gautam, Senior Manager – Committees & Events, IFCCI, who set the tone for an engaging and insightful discussion.

Ms. Upasna Bhardwaj, Chief Economist, Kotak Mahindra Bank, delivered a comprehensive presentation on the strategic significance of tariffs in today’s trade environment, examining their impact on supply chains, cost structures, and global competitiveness. She highlighted how recent tariff measures, especially under the Trump administration could influence global trade flows, inflation trajectories, and currency stability.

Ms. Bhardwaj also discussed the emerging trend of de-dollarisation, explaining how central banks are increasingly diversifying their reserves into gold and silver to hedge against global uncertainty. She also emphasized its potential implications for the Indian rupee and elaborated on India’s resilient domestic fundamentals including a robust rural and informal sector growth that continue to position the country on a sustainable high-growth trajectory. 

Mr. Rohit Jethra, President & Business Head – Treasury, FX Derivatives & Trade (Consumer, Commercial & Private Banking), Kotak Mahindra Bank, along with Ms. Bhardwaj, engaged in a thought-provoking dialogue on macroeconomic shifts redefining global trade and the financial ecosystem. They reflected on the implications of a slowdown in global trade and the importance of diversification and consumption-led growth for India amid evolving global conditions.

The discussion concluded on an optimistic note, emphasizing that policy continuity, prudent currency management, and targeted reforms continue to hold strong potential for fostering long-term economic stability and inclusive growth.

The session included an engaging Q&A segment, followed by Hi-Tea and networking, that provided participants with valuable insights and reflections on the future trajectory of global trade and India’s position within it.