Use any tariff-triggered market correction to buy

Foreign investors are increasingly viewing India as a distinct market, rather than a subset of the broader emerging market (EM) basket, says Jitendra Gohil, chief investment strategist, Kotak Alternate Asset Managers, in an email interview with Puneet Wadhwa. Excerpts:

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How do you interpret US President Donald Trump's tariffs on India from a market standpoint?

■ A 25 percent tariff could spark some knee-jerk market reaction. The rupee might weaken further. Still, given India's limited reliance on exports, this alone is unlikely to throw its macroeconomic (macro) stability or growth prospects off course. Tariffs should also be viewed in the context of how other export-heavy countries like Vietnam and China are affected. India recently signed a deal with the UK, and negotiations with Europe are ongoing. It's also gradually opening the door to Chinese investments. Any sharp correction in Indian equities triggered by Trump's tariffs should be used as a buying opportunity. Negotiations with the US are likely to continue until both sides find a mutually acceptable deal.

Do you see any triggers that could push markets higher from here?