By Admin 
Us tariff on india: The Chamber of Trade and Industry (CTI) has written a letter to Prime Minister Narendra Modi saying that America’s 50 percent tariff imposed on India can destroy many big industries of the country. Due to this, the livelihood of Indians can be endangered in millions.
Indian goods will become expensive in America
CTI chairman Brijesh Goyal said, “50 % American tariffs will have a devastating effect on all industries like India’s textile, leather, gem and jewelery, auto components, chemical, pharma, seafood industry, electronics.” He said that due to increased tariffs, Indian goods in the US market will become expensive by 35 percent as compared to other competitors, which will give priority to the things made in other countries.
Export will have a strong effect
According to the CTI, this increase in tariffs can affect Indian exports worth more than US $ 48 billion. Engineering goods such as sectors, which were exported to Rs 1.7 lakh crore last year, are expected to have a huge impact. Similarly, there is also a serious crisis on gems and jewelery exports worth Rs 90,000 crore and India’s rapidly growing electronics exports.
Products that used to be first 10 percent tariffs, now they will be charged 50 percent tariffs, which will increase the cost of American buyers. Last year, drug exports worth Rs 92,000 crore will also face difficulties. Earlier medicines which were duty fees in America, now their price will increase by 50 percent, due to which Indian pharmaceutical companies will be in deficit compared to other suppliers like Vietnam.
America will have to give a strong answer
However, despite these disadvantages, the CTI government advises that India should also retaliate on America. America should give a strong reply by putting a reciperook tariff on American goods. He said, “India should not be afraid of this pressure. We should reduce our dependence on American imports and at the same time find new markets in countries like Germany, Britain, Singapore and Malaysia, where the demand for engineering goods is increasing. We have to teach a lesson to America by imposing counter fees.”
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