Indian firms will be forced to raise their standards and take on global rivals, former RBI Deputy Governor Viral Acharya told in an interview.

Viral Acharya, ex-RBI deputy governor said greater competition means Indian firms will be forced to raise their standards to take on global rivals. That, in turn, means higher quality jobs and a larger manufacturing base.

US President Donald Trump’s threats to hike tariffs isn’t all bad news for India’s economy since it’s driving the government to lower trade barriers, which will spur competition and growth.