Trump tarifs on india: Strict reactions are coming from the industry across the country regarding the decision of US President Donald Trump to impose 50 percent tariffs on Indian goods. Maruti Suzuki India Chairman R.C. Bhargava clearly said that India does not need to bow down to any kind of bullying and threat. He said in the company’s 44th annual general meeting that it is our duty as an Indian to try with full force to maintain our dignity and respect. We will have to face this challenge unitedly.

Turns in the global market

The US 50% tariff, implemented from August 27, will directly affect the export and employment of labor-dominated areas such as shrimp, apparel, diamonds, leather-shoes and gems. Bhargava said that it has created instability in global markets. Addressing the shareholders, the Maruti chairman said that the decisions of President Trump have forced many countries to reconsider their traditional policies and relations. He said that it is being seen for the first time to use tariffs as a weapon in diplomacy. ”

GST reform told a big improvement

Bhargava described the GST reform as a major economic reform. At the same time, he hoped that GST on small cars could be reduced by 18%, although the final decision will be taken only after the official announcement.

He said that it is a good thing that the government has admitted that a large number of consumers in the country are at the lower level of the market. A two-tier structure of 5% and 18% has been proposed in front of the Ministers (GOM) set up to rationalize GST rates, while a 40% special rate has also been talked about on selected items.

Currently GST rates are 5%, 12%, 18% and 28%. Edible and essential commodities are imposed zero or 5% GST, while 28% tax and additional cess are imposed on luxury goods.

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