PM Modi can directly talk to donald trump on these issues!
Prime minister Narendra Modi is on a foreign tour these days. He is currently in France, but will reach America tomorrow i.e. on 12 february 2025. He will stay here till 14 february and during this time he will meet the new President of America, Donald Trump. In this meeting, there can be talks and agreements between the two countries on many issues. In this era of tariff war, the whole world is watching this meeting, everyone wants to see how india responds to Donald Trump's tariff threats. Come, today in this news, let us tell you how india can directly talk to America on some issues by showing the power of EFTA.
India has the power of EFTA
EFTA i.e. european Free Trade Association (EFTA) is a regional trade organization and free trade area of four european countries. These 4 countries are Iceland, Liechtenstein, norway and Switzerland. It was established in 1960 as an alternative trade block for those european countries that did not want to join the european Economic Community (EEC), which later became the european union (EU). The objective of EFTA is to promote trade and economic cooperation among member states. india has recently negotiated a free trade agreement with EFTA countries. For this, india is going to set up an EFTA desk under the Ministry of Commerce. An agreement for this was signed with EFTA on march 10 last year. This agreement between india and these countries has been named TEPA i.e. Trade and Economic Partnership Agreement (TEPA). india can use this power to deal with the challenges of global tariff war.
PM Modi can talk to donald trump on these issues
India can talk to donald trump on tariff reduction in more than a dozen sectors including electronics, medical equipment, surgical equipment and some chemicals. This will boost US exports. Apart from this, india and the US can also discuss a possible 'mini trade agreement', which is expected to reduce trade tensions. Earlier, india had reduced import duty rates from 13 per cent to 11 per cent in the budget and also cut taxes on high-end bikes and luxury cars. At the same time, trade, defense cooperation and technology can also be discussed in the upcoming meeting between prime minister Narendra Modi and US President Donald Trump. It is believed that india may get some relief due to the increasing trade tension between the US and China.
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