How should India prepare to benefit under the Trump-led trade era? Here are six actions India can take.
Lower import tariffs: From Donald Trump's perspective, India has high tariffs, and he has repeatedly labelled the country the "tariff king" over the past five years, citing examples like the 100 per cent tariff on Harley-Davidson motorcycles and 150 per cent on American whiskey. Mr Trump's emphasis on "reciprocal tariffs" could pressure India into considering tariff reforms, even though India's rates are within World Trade Organization (WTO) norms. India's average tariff of 17 per cent is indeed higher than the US' 3.3 per cent, but comparable to countries like South Korea (13.4 per cent) and China (7.5 per cent).
This story is from the November 09, 2024 edition of Business Standard.
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This story is from the November 09, 2024 edition of Business Standard.
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