Trump decision will have big impact on india||AllBestNews||

Trump decision will have big impact, unemployment will increase in India!

There is a new kind of war on the trade front between India and the United States.

The relationship between the US and India is not doing well in these days. Indeed, the GSP (Generally Extended System of Preferences) facility offered to India by the Trump Administration has been stripped. It means that the Trump Government will impose taxes on the product that India now sells in the US. Although the Government of India is claiming that this decision of the US will not have any impact on the country, financial experts have said that this move will have a major impact on the small and medium scale industry. Experts say that due to this, there can be a crisis of employment too.

 What is the expert

Prof. Vishwajit Dhar of Jawaharlal Nehru University said that the impact of this decision will affect India's exports. He said that India sends the product of small and medium scale industry to America. Now, due to import duty on these products, this industry will have problems. He told that the industry provides the most jobs. In such a situation, it may have an impact.

According to Vishwajit Dhar, Trump's intention is to promote domestic industry and get rid of foreign countries. He said that the developed countries are given such benefits to developing countries. This is our right. In such a way, the Indian government needs to raise voice against it. The government should negotiate with the Trump Administration. He gave the example of China and said that trade war between China and the US is only on the verge of settlement due to the talks.

At the same time, financial affairs expert and JNU professor Arun Kumar says that after the decision of the Trump administration, the impact of the salaries of the employees of the small and middle class industry can be affected. He said that this will reduce the expectations of new jobs. Apart from this, the trade deficit could increase between the two countries.

What is the government say

However, Commerce Secretary Anoop Vadhavan, the government says that this decision will not have much impact on India's exports to the US. On Tuesday, he told that India exports US $ 5.6 billion (about Rs 39,645 crore) of goods to GSP. Out of these, only $ 1.9 million worth of products come into the category without any charge.

What is trump decision

Indeed, US President Trump has ended GSP with India. GSP gets the benefit of about 1900 small products of sectors like India's chemicals and engineering. That is, these products reach the US market without any tax or minor duty charge. Explain that India exports goods of US $ 5.6 billion (about 40 thousand crore rupees) to the United States under GSP.