According to GTRI, the reduction of products announced within the budget of products such as motorcycles and synthetic fragrances, which GTRI said on Sunday, will benefit the US exports.
Global Trade Research Initiative (Gtri) has been repeatedly criticized for repeated criticism of India, but despite being the largest tariff abuse and tariff king of Trump administration, the country has multiple budgets. It has introduced a significant reduction in tariffs on products, and many have benefited US exports.
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“Technology, automobiles, industrial inputs, and major tariff reductions in importing waste seem to be taking measures to promote trade despite the tension of the world trade environment. It has not been seen as a struggle in the election cycle. “
In the major tariff reduction, India has reduced the obligation of fish in water for manufacturing aquatic feed from 15 % to 5 %.
In the case of car sector, India reduced motorcycle tariffs based on the capacity of the engine.
For motorcycles with less than 1,600cc of engine, tariffs have been reduced from 50 % to 40 %, but tariffs have been reduced from 50 % to 30 % for motorcycles exceeding 1,600cc.
“In FY2011, US motorcycles were exported $ 3 million, and this tariff reduction could help expand the market access of American manufacturers,” GTRI said.
Similarly, the US exporter would be useful if tariffs were reduced by 20 % to 10 % Ethernet switches (career grades) under other categories.
The United States exported these products equivalent to $ 653.4 million to India last year, saying “this is a significant trade profit,” said AJAY SRIVASTAVA, the founder of GTRI.
India also reduced the essence of synthetic fragrances from 100 % to 20 %.
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“In the space sector, the tariffs on terrestrial grounds, including spare and consumables, have been reduced to zero, and in 2003, it has gained profits to US exporters that have supplied these 92 million dollars.” He says.
However, in the fiscal year of last year, these imports have declined significantly to $ 0.07 million, suggesting that this category trade activity is sharply decreasing.
In addition, the budget has proposed duties exclusion for specific waste and scrap items, reducing obligations from 5 % to zero.
The United States exported a total of $ 2.5 billion and all kinds of waste to India from 2023 to 2014.
“Trump has long criticized Indian tariff structures, but these latest reductions have shown a change in policies that can support US exports in multiple sector,” said SRIVastava. I am.
From April to November to 25, 2024, the United States is the largest trading partner in India, and the US $ 82,52 billion property (export equivalent to $ 528 billion, imported $ 29.63 billion). $ 232.6 billion). From 2021 to 24 years, the United States was the largest trade partner in India.
