New Delhi
Discussion on Operation Sindoor in both the houses, Rajya Sabha and Lok Sabha of Parliament has concluded. Now normal work is going on in both houses. The opposition created a ruckus during the Question Hour in the Lok Sabha. Commerce Minister Piyush Goyal is making statements about the 25 percent tariff imposed by the US.
In the Lok Sabha on Thursday, Union Commerce Minister Piyush Goyal made a detailed statement by US President Donald Trump about 25% import duty (tariff) imposed on India. He said that the Government of India is constantly monitoring the situation and the security of domestic industries is being given top priority.
Piyush Goyal said that there were four round of bilateral meetings between the two sides. There were many important meetings to finalize the agreement. 10 to 15 percent of tariffs on imports were concerned. There was talk on bilateral trade agreement. Many virtual meetings were also held. We will protect our domestic industries. Will take every step necessary in the interest of the country.
He said that India’s contribution to the development of the world is 16 percent and we are one of the five largest economies in the world. The impact from this move of America is being assessed.
He insisted that today India is the fifth largest economy in the world and is on the goal of becoming a developed nation by 2047. He said, “The government is talking to industrialists. We will take all the steps to keep the country safe. We will become the third largest economy in the world in a few years. Our exports have increased. We are working for farmers. The government is confident that we will become developed countries by 2047.”
He said in Parliament that India is still a ‘bright spot’ of the global economy. The government will completely protect the interests of farmers, msmes and entrepreneurs. We will take every necessary steps so that there is no harm to the business interests of the country. India has made free trade agreement with UAE and Australia, which has given new pace to exports. India will stand firmly in global trade, and the government will face every challenge in the country.
India will not retaliate in response to tariff: sources
Government sources say that at present, India will not retaliate in response to this tariff of 25 America. Sources said that the government is not afraid of this. Whatever response to this will be peacefully, under strategy and only through dialogue.
‘Will protect your domestic industries’, Piyush Goyal spoke in Lok Sabha on Trump’s tariff
Commerce Minister Piyush Goyal is making a statement on the announcement of the tariff made by US President Donald Trump. Piyush Goyal said that there were four round of bilateral meetings between the two sides. There were many important meetings to finalize the agreement. 10 to 15 percent of tariffs on imports were concerned. There was talk on bilateral trade agreement. Virtual meetings were also held. We will protect our domestic industries. Will take every step necessary in the interest of the country. India contributes 16 percent to the world’s development and we are one of the five largest economies in the world. He said that the impact of this move of America is being assessed.
‘Discussion on Mumbai attack in both houses’ demand of JP Nadda in Rajya Sabha
Leader Sadan JP Nadda said amidst the uproar of the opposition that after a long discussion on Operation Sindoor, the opposition walked out at the time of reply by Home Minister Amit Shah. The Prime Minister in the Lok Sabha and the Home Minister in the Rajya Sabha responded. Opposition parties had demanded a discussion in the meeting of the Business Advisory Committee, when the opportunity came, she walked out. It is double standard. We demand a discussion on the Mumbai attack in both houses.
Opposition uproar in Rajya Sabha, ongoing Question Hour
The proceedings of Rajya Sabha have started again. Ghanshyam Tiwari has come on the seat in the Rajya Sabha. Question hour proceedings have now started in the upper house. Question Hour proceedings are going on and opposition members have come to the well. Opposition members are shouting slogans on the issue of Bihar SIR.
Congratulations on Nisar Satellite launch in both houses of Lok Sabha and Rajya Sabha, Parliament
The Lok Sabha and Rajya Sabha, both houses of Parliament, were congratulated for the successful launch of NISAR missile in the joint mission of NASA and ISRO. Speaker Om Birla in the Lok Sabha congratulated ISRO and NASA on the successful launch of GSLV-F16 at the Satish Dhawan Space Center in Sriharikota and said that this is the first mission of its kind, in which the satellite has been installed in the Sun Sermonal Class. This satellite has been jointly developed by ISRO of India and NASA of America for the purpose of microwave imaging. The purpose of this mission is to study global land ecosystem and marine areas. We are very proud of this achievement of space scientists. The speaker congratulated the team of ISRO scientists on behalf of the House and said that we wish for the success of future efforts to them.
How much will India suffer if US tariff came into force? These products will affect the most
US President Donald Trump on Wednesday announced a 25 per cent import duty and additional fine on India from August 1. He also described India’s close relations with Russia as the reason for this decision. Trump said that India has created ‘extremely strict and objectionable non-economic obstacles’ in trade. After this announcement, the central government came into action. Commerce Minister Piyush Goyal convened an emergency meeting, which included representatives of the Business Secretary, Ministry of External Affairs, Export Councils and Principal Industry Bodies. Piyush Goyal said, India knows how to protect its business interests. American tariff is unfair. We will take appropriate steps under the WTO rules and support our exporters.
What will be harm by tariff?
-India exports more to the US, such as medicines, auto parts, electronics and jewelery, tariffs will have a direct impact on them. Increased tariffs will cost Indian companies to send goods to America, which will reduce their demand.
-25 per cent of Tram’s tariff can cause a loss of $ 4 to 7 billion in exports to India. This will directly affect the MSME sector.
With 25% tariffs, countries like Vietnam, Indonesia and Philippines in America will now give tough competition to Indian exporters.
-The new order in America has gone on hold. The margin of Indian companies is already decreasing due to the flood of Chinese goods in Europe, this will harm Indian exporters.
-The Rupee can go down further than the dollar due to tariff. If Indian goods are sold expensive in America with tariffs, then there will be less dollars in the country due to decrease in sales. This may increase India’s current account deficit. The demand for dollars will be high and less supply.
How much is the tariff on which countries?
| Country | Tariff |
| Britain | 10% |
| Japan | 15% |
| EU | 15% |
| Indonesia | 19% |
| Vietnam | 20% |
| The. Korea | 25% |
| India | 25% |
| China | 30% |
| Bangladesh | 35% |
Trump has played such a game before
Trump is playing the game of check and mother in the bilateral trade agreement. India is not the first country with which Trump has played such a game. Trump also issued a 25% tariff letter on Japan and reduced the tariff to 15% when the deal was done. Similarly, the tariff was released to 15% after the deal by releasing a 30% tariff letter on the European Union (EU). Trump goes on this trick to pressurize business partners. On the basis of this, the United States has dealing with zero tariffs for American products with countries like Japan, EU, Taiwan, Indonesia.
These products will be affected more
James-Jewelry: India exports $ 10 billion to the United States. The new tariff will increase the import duty on James-Jewelery in the United States by 13.3%, which will reduce exports by 15% and is expected to lose $ 1.80 billion.
Electronics: India sends electronic items worth more than $ 14 billion to the US every year. 44 percent of the smartphones who came to America are Made in India. Prices and competition will be affected due to new tax. This can cause India lose about $ 1.7 billion.
Auto Parts: US $ 2.8 billion auto components are sent from India. Now these goods can be 12 percent expensive. This can cause a loss of $ 33.9 million to the country.
Clothing Apparel: The US asks for $ 8 to 10 billion clothes and garments from India every year. Now the export of textile apparel from India can be affected by 10-12 percent. But Indian products will still be cheaper than Bangladesh and China.
Seafood and Food Products: The export of shrimp fish and other food products is around $ 3.5 billion. In the US, they will now be expensive by up to 20%. This is expected to cause a loss of $ 400 million to India.
