By Admin 
Fio, a federation of exporting organizations, said on Thursday that 26 percent of the US fees imposed on India would undoubtedly affect domestic companies. Fio Director General and Chief Executive Officer (CEO) Ajay Sahai, however, also said that India is in better position than many other countries. He hoped that the proposed bilateral trade agreement (BTA) on which talks between the two countries are going on will soon be finalized. This can provide relief from these counter -charges.
Sahai told the news agency PTI, “We have to assess the impact, but given the reply charges levied on other countries, we are among those who faced the lowest fee. We are in a much better position than our major competitors like Vietnam, China, Indonesia, Myanmar etc., we will definitely be influenced by fees, but we are in much better than many other countries.
US President Donald Trump has announced a ‘concession counter duty’ of 26 percent widely on India. Trump showed a chart while announcing the fee which showed the fees levied by countries like India, China, Britain and European Union.
The chart indicates that India has imposed a fee of 52 percent ‘with’ currency ‘tampering’ and trade obstacles. America will now collect 26 permissions ‘concessional counter -duty’ from India.
The US President said, “India, very, is very strict. It is very strict. The Prime Minister (Narendra Modi) has just gone from here. He is my very good friend, but I said, ‘You are my friend, but you are not treating us right. They charge 52 percent fees from us … ”FY 2021-22 to 2023-24 America was India’s largest trading partner. America accounts for about 18 percent of India’s total goods exports, 6.22 percent in imports and 10.73 percent in bilateral trade.
India’s trade surplus (difference between imports and exports) in terms of goods in 2023-24 with the US in 2023-24 is US $ 35.32 billion. It was US $ 27.7 billion in 2022-23, US $ 32.85 billion in 2021-22, US $ 22.73 billion in 2020-21 and US $ 17.26 billion in 2019-20.
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