New Delhi. Negotiations are going on between India and the US about the trade deal. Meanwhile, India’s Chief Economic Advisor V. Anant Nageswaran has hoped that the US can withdraw 25 % of the panelti tariffs imposed on India. He said that he expressed the possibility that the tariff imposed by the US on Indian products would be solved in the next eight to ten weeks. He further said, I believe that panelti tariffs will not be applicable after 30 November. Along with this, he has also expressed the possibility of reducing normal tariffs.
Chief Economic Advisor V. Anant Nageswaran said that India’s exports are continuously increasing at the Merchants Chamber of Commerce and Industry program held in Kolkata. Currently, India’s annual exports are about 850 billion US dollars and a target is to take it to 1 trillion dollars in the coming years. Significantly, US President Donald Trump had announced the first 25 percent tariff on India, but later imposed an additional 25 percent tariff. In this way, the US has imposed 50 percent tariff on India. US President Donald Trump wants India to stop buying crude oil from Russia.
Trump says that Russia is using the money that India is buying from Russia in war against Ukraine. However, the US itself also trade with Russia. At the same time, China buys the highest amount of oil from Russia, but Trump has exempted China from tariff. Despite all the efforts of Trump, India is not bowed down and PM Modi has made it clear that the national interest is paramount for him. Just yesterday, Modi has called upon the people of the country to use indigenous goods on his birthday.