Mumbai8 minutes ago
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Trump’s tariff on India is going to be double from 27 August. There is an atmosphere of fear among the sectors who contribute to the Indian economy about this. Because due to a huge decrease in order, a big business may soon be closed.
Talking to NYT, Ishtiaq Ahmed Khan, who made a carpet in Bhadohi, Uttar Pradesh, said, ‘We were surprised by 25% percent tariff and were wondering how this problem will face, but now it has become 50%, it is impossible to face it. We are afraid that this will make about 25 lakh workers and laborers unemployed.
Kalin 60% of Persian style goes to America
Carpets are produced on a large scale in India. Out of this, 98% of the goods are sent abroad. Hand -made tafade carpets are a large part of this trade, while Persian style hand -made rugs or carpets are the most precious.
In the last few years, about 60% of Kalin and Rugs have been sold to the US. Now due to Trump’s tariff, now the US is now getting a $ 125 tariff on the $ 500 carpet, it can reach $ 250.
Traders showing handmade carpets in Kashmir showroom.
The largest buyer of America Indian gems, 30% will be affected by tariffs
About 80% of the farmers working in the company of Ishtiaq are still farmers. They depend on the government’s free five kg of grains. But they get an additional 15 thousand rupees a month from the work of threading and coloring, designing, weaving and finishing carpets.
Ishtiaq says that our laborers and weavers will be the worst condition. Apart from carpet industry, many areas are also threatened. On August 7, Trump announced 50% tariff, while James Udyog Sangh president Kirit Bhansali wrote that 30% of the global trade of Indian gems is in danger.
Medications, semiconductor market right now
India is the largest of the generic drugs used in the US. America is its largest consumer. But the tariff cut on this sector of Trump administration has preserved the industry at the moment.
At present, the import of Indian medicines is free. But Trump has said that it will soon take 150% tariff and later it will be increased to 250%, so that domestic production can start in the US.
There is such exemption for semiconductors, so it is difficult to estimate whether India’s rapidly growing electronics construction will survive or not. Oil and gas are also a complex issue, as energy products are still free from tariffs. The US had increased the tariff due to India’s purchase of Russian oil.
On Independence Day, Prime Minister Narendra Modi gave a 103 -minute speech from the Red Fort. He touched many issues ranging from Pakistan to progress. In this, he emphasized the matter of moving alone in the country without mentioning Trump or Tariff. He said that no one can stop selfishness from moving forward.
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Read this news related to tariffs …
1. 50% tariff of Trump on India, 25% applied: more damage to sector like jewelery-textiles; Export may be half
From August 7, 25% tariff has been implemented on goods sent from India to America. At the same time, 25% extra tariff will be applicable from August 27. At present, about 10% tariffs were taken on Indian goods. Indian goods will become expensive in the US market due to new tariffs.
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