While the revised duty structure presents challenges, industry leaders believe India holds a competitive edge over other nations facing steeper tariff increases.
He argued that India had been imposing “very, very tough” tariffs on American goods for years, creating an unfair trade imbalance.“He (PM Modi) is a great friend of mine.
He noted that Indian agricultural exports could even gain an advantage since other countries face steeper tariff hikes.“We should not look at the tariff increase in absolute terms but compare it with the tariff increases on our competitors,” said Gulati.
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