NDTV spoke to Ajay Sahay, CEO of Federation of Indian Export Organizations on this issue. He said that the announcement of Trump’s announcement can be a negotiating tactic. He told NDTV that we are not very worried. We hope that the Indian negotiaters will protect India’s interests. Now the picture is not clear how much tariff the Trump administration will increase on which Indian product. As far as the mobile phones textile and pharma sector is concerned, I do not think the trump administration will increase the tariff on these sectors.
India America bilateral trade
- The highest 23% duty is in different auto component sector.
- If the trump administration increases the tariff on auto component products, then it will have the most impact on the auto component sector.
- The highest export from India is in James and Jewelery sector
- The duty different in this sector is 13.1%.
- If the US tariff increases, it will affect the James and Jewelery sector from the most value point of view.
According to Ajay Sahai, most of the goods from India, which are America, do not have much manufacturing in America. There is no threat to America’s manufacturing companies from Indian exports. It may be that we have found imported duties on some American products. We have to negotiate with the US, they have to give some market access. If America starts Teriff for against the big countries of the world, then our assessment is that it will benefit the Indian exporter. We have done 175 tariff lines identity in which America, India and China directly compete with each other. A part of these $ 238 billion tariff line can be shifted to India from China. Our assessment is that with the tariff war of the US, a new export market of $ 25 to 30 billion can open for the Indian export sector.
America is the most exported mobile phones, cut and polished gemstone, textile and pharma products from India. If America is imposed additional import duty on these, then it will affect our export. Already on the export of cotton and second textile fabric, the tariff in the US ranges from 8% to 32%.
The duty different on textile products is just 1.8% while the apparel sector is -4.2%. The Government of India has already reduced duty on Berban Whiskey, Harley Davidson and some important chemicals to be imported from the US. According to the Central Board of Independence Taxes and Customs, the tariffs on the important products imported from the US in India are either less or not at all.
How much duty on
- Crude oil has no duty
- Coal is 2.5%
- Diamond has 0% to 2.5%
- Import duty on petrochemicals 7.5% and
- LNG is 5%
On the one hand, US President Donald Trump through a new bilateral trade agreement with India, which children want to increase business to $ 500 by 2030.
On the other hand, he has advocated to increase the tariff on Indian products many times. Now it has to be seen what the Trump administration decides in this direction on 2 April.
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