India’s tariff reforms are set to provide abundant opportunities for global businesses and investors, according to Fairfax Financial Chairman and CEO Prem Watsa. Watsa, speaking after receiving the 2026 US-India Strategic Partnership Forum Leadership Award, emphasized India’s trajectory towards becoming a developed economy by 2047 and positioning itself as a prime investment hub globally.
Watsa highlighted India’s move towards eliminating trade barriers and expanding tariff-free access for numerous countries, including Canada, the United States, and Europe. These reforms are expected to open up significant avenues for international companies seeking to manufacture and export from India, fostering substantial growth opportunities.
Describing India as a compelling long-term growth story, Watsa underscored the country’s burgeoning middle class and the transformative impact of venture capital on the entrepreneurial landscape. He praised India’s democratic ethos and the policy direction under Prime Minister Narendra Modi, foreseeing a developed Indian economy by 2047.
Recognizing the entrepreneurial spirit in India and the transformative power of venture capital, Watsa expressed optimism about the country’s potential for innovation and growth. He commended the democratic traditions of both India and the United States, highlighting the vast opportunities arising from their collaboration and shared values.
The US-India Strategic Partnership Forum Leadership Awards also honored Sunil Bharti Mittal of Bharti Enterprises and Christopher T. Calio of RTX for their significant contributions to strengthening economic and strategic ties between India and the United States. Mittal’s role in revolutionizing India’s telecommunications sector and Calio’s efforts in expanding aerospace and defense manufacturing were acknowledged.
