India will also get a big benefit in the proposed tariff deal with America, know how? – India tv hindi

India And there is a negotiation on the bilateral trade agreement between the US. Under this agreement, the concession in import duty in labor-dominated areas such as leather, textiles and jewelery will increase exports to the US. Experts hoped that in return the US may demand a tariff cut for petro chemical products, electronics, medical devices and some agricultural commodities such as almonds and cranberries. He also said that in view of the sensitive nature of agricultural objects like apple and soy, tariff cuts can be difficult. During Prime Minister Narendra Modi’s recent visit to Washington, India and the United States had announced two -way trade to reach US $ 500 billion by 2030. On this occasion, a commitment was also made to interact on the first phase of the multi-regional bilateral trade agreement (BTA) by 2025.

India can benefit

International business expert Vishwajit Dhar said, “If the US cuts tariffs under the proposed agreement, India may benefit from sectors such as vehicles, apparel, footwear, jewelery, plastic and smartphones.” In these sectors, Indian goods can compete with China in the US market, as Chinese goods are facing high tariffs in the US market. ‘

45% tariffs are levied on many goods in China

He said that some goods in China face up to 45 percent tariffs in the US market and India can increase production in these areas and avail opportunities. US President Donald Trump has announced that counter -tariffs will be implemented from April 2 on countries imposing high tariffs on American goods. In such a situation, it is believed that trade talks between the two countries may be accelerated. Dhar said that it would be very difficult for the officials of both countries to finalize the agreement. He said that the US may demand to reduce tariffs on agricultural products like expensive bikes, passenger cars and electric vehicles as well as soy and maize.

America wants to balance trade deficit with India

Dhar said, “The main concern of the US is to balance the trade deficit with India and for this they want to increase their exports to the Indian markets.” The exporters of the drug sector said that the US decision to put a counter -tariff on Indian drug exports will mainly affect American consumers. However, domestic industries remain alertly optimistic. Research Institute GTRI suggested that India should offer a ‘zero’ fee strategy for the US proposed counter -tariff. He said that doing so would be less harmful than interacting on full bilateral trade agreement. The GTRI suggested to the government that the ‘zero for zero’ strategy should identify such product categories where import duty for American imports can be abolished without damaging domestic industries and agriculture. In return, the US should also remove the fees on the same number of goods.

(With PTI/language input)

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