India has rejected reports that it was said that it is reviewing the tariff exemption given on some goods coming from the US. The Ministry of External Affairs made it clear on Saturday that no such review process has been started and these reports are completely baseless. In fact, some reports in the media claimed that India is considering withdrawing the tariff exemption on 12 products imported from the US. These included some special chemicals, industrial products and agricultural goods.
Reacting to this, Foreign Ministry spokesman Randhir Jaiswal said, “We dismiss this news completely. No such review is being done by the Government of India.” He further said that India and the US have strong and positive business relations and the two countries are constantly communicating to carry forward partnership in mutual interest.
Experts believe that India’s business balance with the US is already in favor of India, and talks between the two countries on several levels about tariffs. Over the years, the two countries have resolved many differences over trade through negotiations and this partnership has now spread to areas like technology, defense and energy.
India’s response has come at a time when there are concerns about trade war and protectionist policies globally. In such a situation, this explanation of India not only assures the domestic market but also indicates that India is serious about maintaining stability with its strategic trading partners.
