Trump's decision, india will suffer a loss of 58000 crores…
US President donald trump is constantly increasing India's concern. Recently PM Modi met donald trump and talked about good relations between the two countries. Apart from this, he even called trump his friend. But, trump is scaring the whole world including india with tariff threats. Actually, donald trump has threatened to implement 'Reciprocal Tariffs' from April. This threat has increased concern in many export sectors of India. It is believed that if this happens, the indian economy will suffer a loss of about 7 billion dollars i.e. about 58000 crores rupees every year.
Many big sectors will be affected
According to the report of CitiGroup, india can suffer a loss of up to Rs 58,000 crores every year due to this decision of the trump government. This is the reason why the indian government is preparing a new trade agreement with the US to understand and protect itself from this new tariff structure.
It is believed that this tariff will affect the chemicals, metal products and jewelry sector the most. Apart from this, the automobile, pharmaceuticals and food products sector will also be affected by it. Textiles, leather and wood products will also be affected, but it will have less impact than other sectors.
What did india sell the most to America in 2024?
According to the report published on Financial Express, india exported the most pearls, gems and jewelry to America in the year 2024. Their value was around $ 8.5 billion. Whereas, pharmaceuticals was at number two. It exported products worth $ 8 billion to America. After this were petrochemicals products. Their value was $ 4 billion. Let us tell you, India's total business tariff average is 11 percent, which is much higher than America's 2.8 percent. This is the reason why America is raising the issue of 'Reciprocal Tariffs'.
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