Trump's 27% instead of 26% tariff may push India's textile, semiconductor industry to surpass Asian peers: GTRI

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GTRI's Ajay Srivastava said the United States has imposed higher tariffs on China, Vietnam, Thailand and Bangladesh, creating opportunities for India in global trade. India has tariffs of 25 per cent on steel and cars and 27 per cent on most goods, but there are no tariffs on pharmaceuticals and semiconductors. Lower tariffs have improved India's competitiveness in textiles, electronics and semiconductors, attracting investment.

I've found that Ajay Srivastava, founder of GTRI, said US President Donald Trump's imposition of higher tariffs on several Asian and European countries, including China, Vietnam, Taiwan, Thailand and Bangladesh, provided a strategic opportunity to India to enhance its position in global trade and manufacturing. Sri Vas tawa added that goods from India will face a 25% tariff, including steel, aluminum and car-related goods, while pharmaceuticals, semiconductors, copper or energy items are exempt from the tariffs. In fact to the remaining items, India will impose a reciprocal tariff of 27 per cent instead of the reported 26 per cent. Srivastava said the details of the notification stipulated that India would pay a tariff of 27 percent. And He said: "India'steel, aluminum and car-related items will face a 25% tariff, while pharmaceuticals, semiconductors, copper or energy items won't be subject to tariffs. But to the remaining items, India will pay a reciprocal tariff of 27%. Additionally " He stressed while India faces a 27 per cent tariff, the US has set higher reciprocal tariff rates on goods from other countries, including 54 per cent to China, 46 per cent to Vietnam, 37 per cent to Bangladesh and 36 per cent to Thailand. From what I've seen, Tariffs on Indian goods are comparatively low, giving India a competitive advantage in a number of areas.

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