By Admin 
Trump tarifs: US President Donald Trump has announced an additional 25 percent tariff on India due to buying oil from Russia. This new tariff was announced on Wednesday and it will be applicable from August 7 to 21 days, i.e. from 27 August. Due to Trump’s move, the tariff on many Indian products will increase to 50 percent.
This huge increase in tariffs has been done at a time when commercial talks between the two countries have almost stopped. However, it has not been clarified by the White House whether similar action will be taken on those countries including China which import oil from Russia.
How can India benefit from this situation?
While India is facing a lot of pressure in this situation, on the other hand some different reactions are coming from the Indian commercial community. Mahindra Group Chairman Anand Mahindra, sharing a detailed post on social media, has advised to see it as a long -term opportunity for the country. Giving the example of “unexpected results” in this post, he said that these changes can prove to be beneficial for India in future.
He said that countries like France and Germany have increased their defense spending. Germany has softened its strict financial policies, making revival of Europe’s major economies and this region can become the new engine of global development.
In the context of Canada, he said that he had been struggling with internal trade obstacles between his provinces for a long time. But now, due to global economic changes, he is taking concrete steps towards removing these obstacles, making its economy more strong and integrated.
Suggestions for India:
Anand Mahindra questioned whether India could take out ‘Amrit’ from this global ‘churning’, as the 1991 foreign exchange crisis opened the way for economic liberalization? He stated the need to pay immediate attention to two major areas:
Ease of Doing Business (Ease of doing business)
Promote tourism
He says that India should now set up a true ‘single window system’, instead of gradually improving, so that all investment permissions can be found on the same platform. He suggested that some states can jointly create a common platform, so that investors can get speed, transparency and reliable environment. He described tourism as India’s lowest utilized foreign exchange acquisition and the possibility of employment generation. Additionally, he also talked about some more important steps: providing liquidity and assistance to the MSME sector, faster the infrastructure projects and encouraging manufacturing with PLI plans.
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