New Delhi, 6 April (IANS). Ashish Chauhan, Managing Director and CEO of National Stock Exchange (NSE), said on Sunday that India recently got relief from other countries in tariffs imposed by the US.
Discussing the changing global economic conditions with news agency IANS, Chauhan said that many countries have suffered heavy losses due to the new tariff. However, India’s situation is much better than other countries.
Chauhan told IANS during his first visit to Vaishno Devi temple, “Although new tariffs have been imposed in recent times, India has got some relief compared to other countries.”
He said that in the coming days, many countries can interact with America to reduce tariff burden and India will also present its side.
The NSE CEO further said, “In the near future, many countries are expected to discuss with the US to reduce these fees and present their residues and India will do the same.”
The NSE CEO’s statement matches the recent report of SBI Research, stating that India’s risk on American tariffs is quite limited, as the goods exported to the US in GDP are only around 4 percent.
The report also stated that India has the lowest among the new tariffs imposed by the US on the US, which will give India a competitive lead over competitors like China, Vietnam, Thailand and Indonesia.
The SBI report states that the tariffs may benefit from India’s electronics and agriculture in a longer period, although there are short -term challenges for sectors such as gems and jewelery and engineering goods.
According to the report, “India’s exports to the US continue to fall from financial year 23 and the US holds around 17–18 percent stake in total exports. 63 percent of the total exports of top 15 items exported to the US.”
-IANS
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