Strategy to deal with tariffs is flexibility: Oliver Wyman's Pedro Oliveira

Mumbai: Governments and companies should pause, assess and prepare, instead of rushing into irreversible commitments, as the geopolitical environment remains unsettled by the tariffs imposed by US President Donald Trump, said Pedro Oliveira, managing partner for the IMEA region at leading management consulting firm Oliver Wyman.

"We haven't yet moved into a world where people are ready to restructure their businesses based on a settled reality. Right now, flexibility is the strategy," he told ET in an interview. Oliveira said that the firm was assisting multiple global clients and government with scenario preparation and presenting how they may position themselves in each situation.

According to the consultant, as global fault lines sharpen, India has a real chance to become a key manufacturing hub, diversify its exports, attract more global capability centres and emerge stronger once the dust settles.

"What makes this especially compelling is the dual growth engine: India's internal market is expanding rapidly, and now there's an opportunity to complement that with growing export relevance. In many ways, this is a once-in-a-generation moment," said Oliveira.

Talking about the impact of Trump's tariffs on Indian companies, Sumit Saraogi, head of Oliver Wyman India, said there was a clear shift-from simply discussing the disruption to actively building strategies around it. "Three trends are emerging: First, widespread awareness-almost every client conversation now begins with scenario planning. Export-heavy sectors like pharma, automotive and electronics are feeling the strain, making India's role in supply chains critical," he said.