How Trump's Tariffs Will Affect You
The US government has placed a high tax (up to 50%) on many goods imported from India. Isse 'tariff' kehte hain. Let's break down what it means for us.
The main reason given by the US is to encourage their own local manufacturing ("America First"). It's also linked to India's trade decisions with other countries.
Your favourite clothing brands that export to the US will face challenges. This could affect jobs in textile hubs like Tiruppur and Ludhiana.
India is a world leader in diamonds and jewellery. These high tariffs could hurt lakhs of workers in cities like Surat and Jaipur.
From car components to machinery, many Indian engineering goods are exported to the US. These will now face tough competition from other countries.
Farmers and fishermen are also affected. Indian shrimp, basmati rice, and spices will become costlier for American buyers.
In the long run, it can mean fewer jobs in these export sectors. It also puts pressure on the Indian economy as our exports may decrease.
Yes, for now. Important goods like many medicines (pharmaceuticals) and some electronics from India have been exempted from these high tariffs.
The government is in talks with the US. They are also helping Indian exporters find new markets for their goods in other parts of the world.