Naushad Forbes, Co-Chairman, Forbes Marshall and the former president of the Confederation of Indian Industry (CII) feels India would do well if it were to turn the challenge on hand into an opportunity and use the challenge posed by the US tariff increases as a reason to hasten the drive to usher in some much-needed and long overdue domestic reforms. “We have to think of what our medium to long-term play is going to be and this, in my view, should have three elements, says Forbes. The first element, he feels, has be around how do we strengthen India in terms of reforms. “We should use this as a reason to drive a lot of useful domestic reforms to make Indian industry more competitive. Second, invest in deepening our trade relations with the rest of the world and third, look at specific interventions and support to those firms exporting to the US and now hit because of the tariff increases,” he says.