Some economists suggested that India should be ready to deal with the incoming new government in the US headed by President Donald Trump, who has threatened to impose tariffs on US imports. Trump has talked about raising import duties to 20% across the board and putting a 60% duty on Chinese imports. Recently, he talked about a reciprocal approach in regard to tariffs on imports from India.
The US action against China may benefit India, they said. With Bangladesh crisis affecting the textiles industry in that country, some suggested India needs to increase textile and garment exports, which can boost labour-intensive employment in manufacturing.
This story is from the December 25, 2024 edition of Financial Express Kochi.
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This story is from the December 25, 2024 edition of Financial Express Kochi.
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