The US has imposed a ‘Double Tariff’ Import duty on India up to 50%, which can directly affect India’s workers and GDP. These tariffs are now 16% more than China, 31% more than South East Asia and 35% more than South Korea. This has affected India’s 2/3 of exports of $ 86.5 billion to the US. Labor-intensnel sectors such as textiles, jewelery, seafood and leather are badly vulnerable-from where the US exports can decrease from $ 60.2 billion to $ 18.6 billion. Experts believe that India’s GDP growth may fall to 1% and will increase unemployment further. Although pharma, electronics and petroleum have been relieved, it is a “Trade Earthquake” for the rest of the industries. Will India get traded with the US and boil this crisis? Or will you fight a long battle by saving the interests of your farmers and fishermen? What do you think? Please comment below.

India’s 50% TARIFS is going to be affected by India about ₹ 4.22 lakh crore. In response, the Modi government has launched special outreach campaign in 40 big countries, in which countries like Germany, France, Italy, Spain, Netherlands, Poland, Canada, Mexico, Russia, Belgium, Turkiye, UAE and Australias will be targeted. Under this campaign, Quality, Sustainable and Innovative Textile Products will be promoted in these markets to compensate for the damage caused by US and export hubs like Surat, Panipat, Tirupur, Bhadohi get support. India’s Textile Export is currently only 5-6% in the market of these countries, while India holds less than 4% stake in Global Textile Trade. India is trying to further strengthen its position with Free Trade Agreements and China Plus One strategy.

The new tariffs, which come into effect from 27 August, have created even more vivid tension in the India-US trade war. Import duty on many Indian products will increase by 50%, while trade talks between India and the US are currently staying. In the midst of this tension, the question arises whether India can turn this pressure into an opportunity? Mahindra Group Chairman Anand Mahindra has described the situation as a ‘brainstorm’ process like the 1991 foreign exchange crisis, from where the country caught the direction of a new progress. He suggests that India will now have to accelerate the pace of its reforms, especially to promote ‘Ease of Doing Business’ for tourism and business. He also called upon the states to come together to create a single window system, which can give investors a fast, transparent and reliable environment. In addition, it will be necessary to strengthen the MSME sector through liquidity assistance, better infrastructure, and production-linked incentive (PLI) schemes. So the question is, is India ready to write a new economic development story by turning this crisis into an opportunity? Come, know your views on this important subject!