The US has granted India a major tariff concession, reducing rates to 18% from 25%, a move BJP spokesperson Gaurav Vallabh describes as a ‘boon for manufacturing and MSMEs.’ Announced amid strengthening Indo-US ties, this policy shift is expected to supercharge exports in vital sectors.
In his remarks from Udaipur, Vallabh thanked PM Modi and President Trump for their leadership in securing this agreement. He highlighted the competitive advantage it provides, particularly against nations like Bangladesh in textiles, Vietnam in leather, and Thailand in handicrafts, where tariffs remain steeper at 20-21%.
‘India now enjoys the lowest tariff among non-allied competitors,’ Vallabh noted, attributing the success to the Modi-Trump personal equation that Trump himself has praised. Industries such as gems, jewelry, heavy engineering, and chemicals will see immediate relief, easing cost pressures and enhancing market penetration.
This isn’t just a numbers game; it’s a testament to India’s rising stature in global trade. By prioritizing India, the US is fostering deeper economic integration, which could lead to increased investments and job creation. Vallabh’s optimism reflects broader sentiments in business circles, where this is viewed as a catalyst for ‘Make in India’ ambitions.
Looking ahead, the tariff cut paves the way for balanced trade growth, reducing deficits and promoting fair competition. As Indian exporters gear up, the focus shifts to leveraging this opportunity through innovation and efficiency, ensuring sustained benefits for the economy.
