New Delhi: Sources are speculating that India could use an essential US trade concession with the US looking to withdraw the zero tariffs that India enjoys on the 5.6 billion dollar export trade with the country. ETV Bharat spoke to financial expert Akash Jindal on the move to withdraw the Generalized System of Preferences (GSP) by the United States which India has been enjoying since the 1970s.
Akash Jindal was of the opinion that US cannot make this actually happen.
"US needs to see this in all perspectives. Yes India does enjoy benefits from these tariffs but there are a lot of US companies in the FMCG segment, insurance and financial sectors which are using the Indian markets. The withdrawal of these types are going to hamper them very badly as well" Jindal said.
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Stressing on the fact that the United States of America can't afford a trade war with India Jindal further added "you may see what happened with them with the trade war they had with China. It ended bad for them and America has never been known to be an economical manufacturing place. They should does not look for a trade war with India and wrote the join India who has a huge talented man power system who would work at feasible cost".
Commenting on protectionist moves by the trump administration, Jindal said, " protectionism has become of the order of the day. We have always welcomed the US with open arms for trade and followed the policy of Atithi Devo Bhava. Hence if the US pursues the policy of higher tariffs for imports from India, it would be catastrophic for India US relations".
