US cuts off India preferential trade access
242
The United States will end preferential trade treatment for India from Wednesday, US President Donald Trump has announced, in a fresh economic headwind for New Delhi alongside slowing growth and record unemployment.
India has been the single biggest beneficiary of the decades-old US Generalized System of Preferences programme, allowing the country to export $5.7 billion worth of duty-free goods in 2017, according to figures from US Congress.
Trump said in a statement issued late Friday that he wanted greater access for US goods to the giant South Asian nation.
Read: India hopes to avoid US sanctions over Russian missile deal
“I have determined that India has not assured the United States that India will provide equitable and reasonable access to its markets,” Trump said.
“Accordingly, it is appropriate to terminate India's designation as a beneficiary developing country.” Trump announced in March that he would be ending the preferential trade accord with India, but did not give a date.
Washington has sought to make India a closer diplomatic ally, but has long complained about limited access to the huge market of 1.3 billion people.
The US had a $26.7 billion trade deficit with India in 2017-2018.
The announcement is the latest headwind to threaten the Hindu nationalist government led by Prime Minister Narendra Modi, who was re-elected to his second term in a landslide just weeks ago after campaigning partly on his record as an economic reformer.
Official figures released Friday showed that India's growth slowed for the third straight quarter to 5.8% in January-March, while unemployment hit a 45-year high in 2018.
The Indian government made no immediate comment on Washington's move, but media reports said New Delhi was considering higher import duties on more than 20 US goods including agricultural produce and chemicals.
Indian commerce secretary Anup Wadahan played down the move to end the country's GSP status in March, saying that preferential trade accounted for a fraction of its nearly $80 million in annual exports to the US.
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On DawnNews
Comments (242) Closed
Jun 01, 2019 09:10pm
Instead of opening market for mighty American companies, it is better to lose few 100m dollars. It can be recovered by other means. Make in India first
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Jun 01, 2019 09:13pm
Only 190 Million dollars will be the actual loss... it's like a drop in the ocean. USA wanted to remove price caps set by India on medical devices and medicines... Which would have led to increase in prices... Well looks like India does care for it's poor and does what is best suited for it's interest, unlike our neighbours.
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Jun 01, 2019 09:14pm
India has moved on to be global superpower. This designation was created for developing countries, this move is symbolic that India is fast moving to next bracket of developed countries.
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Jun 01, 2019 09:14pm
Will this development help improve the economic condition of Pakistan?
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Jun 01, 2019 09:16pm
At last some good news for Pakistan
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Jun 01, 2019 09:17pm
Modi will not bow down to mere 5.6 billion.Modi has other options which he will disclose at right time.
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Jun 01, 2019 09:17pm
*....preferential trade accounted for a fraction of its nearly $80 million in annual exports to the US.*
$80 Billion, not $80 million.
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Jun 01, 2019 09:18pm
Diplomatic test for Modi government. And Trump can't be sharper than Modi
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Jun 01, 2019 09:18pm
Nice move by US.trump is lobbying for his own coming election and he is bound to win because of such measures which is helping US economy
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Jun 01, 2019 09:21pm
Living on generosity of Americans.
'India has been the single biggest beneficiary of the decades-old US Generalized System of Preferences programme, allowing the country to export $5.7 billion'
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Jun 01, 2019 09:21pm
We don't need the access. We are happy with our 7% growth. We are better than everyone, please bow and acknowledge.
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Jun 01, 2019 09:21pm
Much more to come. This is just the start.
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Jun 01, 2019 09:24pm
... Indian commerce secretary Anup Wadahan played down the move to end the country's GSP status in March, saying that preferential trade accounted for a fraction of its nearly $80 million in annual exports to the US.
Should be $80 billion.
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Jun 01, 2019 09:25pm
I guess polishing shoes American didn't help after all.
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Jun 01, 2019 09:26pm
See, Trump is nobody’s friend. He’s all about money. He calls you a friend, invites you to the Whitehouse, but you better play your cards right, or you are out.
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Jun 01, 2019 09:30pm
'saying that preferential trade accounted for a fraction of its nearly $80 million in annual exports to the US.'
Keep quiet and tow the line otherwise even this will stop, then India will economically collapse with a huge $250 trade deficit.
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Jun 01, 2019 09:31pm
Inequitable accesses and one-way streets only go so far !
Equitable Partnerships & two-way streets are the long term solution for all relationships.
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Jun 01, 2019 09:31pm
Indian software exports around 150 USD Billions and exports many countries. Modi don't bend for US tricks. We will buy cheap oil from Iran.
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Jun 01, 2019 09:32pm
Good that GSP preference status is withdrawn before the trade sanctions that would likely kick in for India on buying S400. That much lesser leverage from US and ease for India to take the decisions in future for the benefit of the India.
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Jun 01, 2019 09:33pm
Business should be treated as one. With increased protectionism everywhere, leaders should work out for win-win situation.
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Jun 01, 2019 09:33pm
We have already experienced American «friendship». It’s time Indians made some first hand experences too.
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Jun 01, 2019 09:33pm
Trump has started a trade war with China , India , Mexico , Germany , NATO allies . The bottom line is he would be taking the US economy towards a recession. His policies have not yielded so far the stock market is reflecting pessimism. The last two years are not the next two years and the card of economy as a means of re-election is falling apart . .
Most people in India as well as the rest of the world know that trump policy influence has less than 12 months on the clock .
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Jun 01, 2019 09:45pm
India will decide its own destiny
Why is this news here?
This will benefit India
It is a loss for USA not India
We ourselves wanted this
Lets see which excuse will be used now
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Jun 01, 2019 09:47pm
It’s actually good for India since whenever such situations occurs India converted them in to self sufficient opportunity. Trump has mistaken it really.
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Jun 01, 2019 09:48pm
who cares US now...
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Jun 01, 2019 09:49pm
Unfortunately India is under continued illusions that it’s a US minion, in fact it’s not minion, nor preferred nation to US, the bilateral relations are based on mutual benefits in equal terms. There’s a trade favor in India kitty, and US had been repeatedly asking India to buy more from US, but nothing happened. Hence a businesslike policy is imperative like ending preferential trade status to India. There are no free breakfast in US I hope the Indians know this.
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Jun 01, 2019 09:49pm
Good try to portray current state as a negative thing. Better luck next time. US will fall in line. No one knows better than India how to deal with their trading partners. With Modi at helm, things are going to only improve further from here
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Jun 01, 2019 09:54pm
Slowing growth and record unemployment. How does a country provide jobs for 1.3 billion people?
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Jun 01, 2019 09:58pm
Wrong data! You talking about India, not Pakistan. It is $80 BILLION, not million.
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Jun 01, 2019 09:58pm
It’s $80B worth trade and most of this are handmade and agricultural products like Basmati rice, dal etc and let’s see how it works out. Pakistan too has the GSA but they are unable to export the products for various other reasons
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Jun 01, 2019 09:59pm
Gift for Modi's second term. Show results to Trump like the real ones not those fake one you displayed to win election to your Jantaa
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Jun 01, 2019 10:00pm
Whoopsie. Shining. Rising. Alone. Lonely. 2.0
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Jun 01, 2019 10:01pm
Factual error in the report, annual exports to US are in the billions and not in the millions. Indian software companies alone will account for billion+ figures.
Rest is just Trump being Trump, awaiting a better deal by putting up pressure. Government of India will deal with it.
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Jun 01, 2019 10:02pm
The worlds largest and the worlds most powerful democracies know exactly how to dance together and still lead
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Jun 01, 2019 10:03pm
Two superpowers know how to treat each other
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Jun 01, 2019 10:05pm
No big deal. Indian exporters of these goods will lose about 10% of sales as a result in the short term. Not a calamity.
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Jun 01, 2019 10:09pm
The US had a $26.7 billion trade deficit with India in 2017-2018."
US wants to increase export of Dairy products to India as there is huge slum in US and dairies are being shut down.
But I did being largest milk producer in world is not accepting this.
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Jun 01, 2019 10:14pm
Now India knows there is NO free lunch
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Jun 01, 2019 10:15pm
So is Pakistan planing to fill the gap?
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Jun 01, 2019 10:21pm
Who write these articles and those people even didn’t know difference between million and billion. Laughable report when it says India’s exports to US is $80 million annually.
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Jun 01, 2019 10:22pm
Indian commerce secretary Anup Wadahan played down the move to end the country's GSP status in March, saying that preferential trade accounted for a fraction of its nearly $80 million in annual exports to the US. ... India is doing well. It is a developed nation now. They need to stop playing poor.
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Jun 01, 2019 10:24pm
Modhiji and his new Team can handle the situation
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Jun 01, 2019 10:25pm
Trump chopping extra advantages for everyone...
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Jun 01, 2019 10:25pm
Great dumping move by the U S. since they know very well that from 1947 to 1997, India was sitting in the Russian lap as it's best friend and closest ally in South Asia. Suddenly one fine morning by waking up on the wrong side of the bed, India took a "U-Turn" and instantaneously became loyal subject of the U.S. in order to safeguard, promote and protect their ulterior and interior interests.
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Jun 01, 2019 10:27pm
India is a planet in itself. India with robust domestic consumption does not have to export in a big way like the ambitious China to sustain the welfare of her people.
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Jun 01, 2019 10:28pm
Is this the feel good factor for Pakistan at times of turmoil?
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Jun 01, 2019 10:29pm
So what’s the new deal?
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Jun 01, 2019 10:35pm
So did they export $5.7bn worth or $80million worth of goods to the US? The latter figure, which is found in the last paragraph, appears to be incorrect.
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Jun 01, 2019 10:38pm
Great news
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Jun 01, 2019 10:39pm
Very good move by the US. Things should be equivalent for both sides.
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Jun 01, 2019 10:41pm
No more duty free export facility to India at the cost of revenue losses to U.S. Mr.Trump does not compromise on losses to U.S. economy.
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Jun 01, 2019 10:52pm
From Business Today , "According to Commerce Secretary Anup Wadhawan, GSP withdrawal will not have a significant impact on India's exports to the US" since the duty benefit, or savings on import tariffs, amounts to only $190 million annually. " Not a major issue.
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Jun 01, 2019 10:53pm
Impact on 5.7 billion usd annually. I am sure impact will be less than 2 billion. Peanuts
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Jun 01, 2019 11:01pm
There goes the free rides and charity handouts. Back to slumistan.
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Jun 01, 2019 11:03pm
A not so spoken trade war is going on with India and US. You will hear more about in coming future.
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Jun 01, 2019 11:03pm
If middle east and the USA take the necessary measures against a communal India to the core, the Indians will starve to death. Russia and Israel can only sell arms, they are not going to provide jobs and foods!
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Jun 01, 2019 11:10pm
Please report properly with facts..
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Jun 01, 2019 11:12pm
They have been playing around much, useless to the US.
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Jun 01, 2019 11:27pm
Here you go neighbors, feel the music along with many of your neighbours for being an US ally.
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Jun 01, 2019 11:27pm
I really appreciate DAWN for selecting such an excellent image with this news item.
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Jun 01, 2019 11:28pm
What’s the new deal? Increase imports?
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Jun 01, 2019 11:32pm
Don't wory India is way ahead of Pakistan
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Jun 01, 2019 11:33pm
Modi got the prize he deserved hugging Trump. Nobody hugs Trump.
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Jun 01, 2019 11:33pm
Unlike China, India's economic growth is dependent on internal consumer spending. Exports are important but ending this facility will not make much of an impact on multi-trillion dollar economy. Good relations between India and US will continue to progress.
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Jun 01, 2019 11:33pm
Silence in the comment section!
Indians?
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Jun 01, 2019 11:35pm
Excellent news. This time trump did the right things. I support trump on this. Good job trump
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Jun 01, 2019 11:36pm
Its Oo. Will bounce back. No sweat
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Jun 01, 2019 11:37pm
It's 80 billion*
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Jun 01, 2019 11:38pm
The US should put an end to the cheap, worthless import of Indian goods especially textiles. Why not ban thousands of computer techies trying to get here.
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Jun 01, 2019 11:41pm
Uncle Trump showing his friendship for India. Kiss goodbye to Iran and Afghanistan. You need more friends like America, and in return you get to buy billions in US goods. Such great rewards for modi's diplomacy.
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Jun 01, 2019 11:44pm
Good
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Jun 01, 2019 11:45pm
Sigh! Such short honeymoon period for Indo-US ties.
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Jun 01, 2019 11:47pm
Chamatkar of Trump sarkar.
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Jun 01, 2019 11:48pm
But they have Chabbar port so nothing to worry about. Oh wait...
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Jun 01, 2019 11:50pm
I can feel the glee emanating from every word, guess when your own house is in ruins. Misfortune of your neighbours can be a bit entertaining, just don't get carried away.
India will sort out its differences with America eventually. You just mortgaged your country's future to the IMF for 6 billion $$ over 3 years. Worry about that and the 24 billion in debt that will be maturity over the neat 2 years.
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Jun 01, 2019 11:57pm
And India was sold a bill of goods as the regional naval guardian, I wonder who really believes this fairy tale. The Chinese will rule the south and South East Asian waterways.
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Jun 01, 2019 11:59pm
We know how to deal with it,stop worrying about ourselves...mind your own crippling economy.
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Jun 02, 2019 12:00am
Sanctions for the S400 purchase will follow soon, hope is a low percentage play.
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Jun 02, 2019 12:12am
So be it. India will not let large US corporations like Walmart kill small mom and pop stores.
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Jun 02, 2019 12:17am
The sale completed, the used car salesman moves on to the next customer.
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Jun 02, 2019 12:24am
Trump is isolating the USA because of their own ineffectiveness on trade, they have had the monopoly on the US petrodollar for decades which gave them a head start.
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Jun 02, 2019 12:25am
Great news for India. This is a recognition by the US that India is now a developed nation and does not need a ‘developing’ nation concessions. India should open all its markets to the US to further deepen the social, economic, diplomatic, defence ties between US and India.
Great accomplishment but Modi.
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Jun 02, 2019 12:29am
No longer buddies???
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Jun 02, 2019 12:29am
Not going to make much difference. India exports were about $56 billion in 2018 to USA and out of that only 5.7 billion (about 10% of total exports) received 'preferential tariff'. Now this 5.7 billion will probably become $5 billion but will be more than made up by increase in total exports which are expected to hit $75 billion in 2019.
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Jun 02, 2019 12:35am
Cut off trade for India and cut off aid for Pakistan.
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Jun 02, 2019 12:35am
India historically has always tried to milk money from western countries via their companies and investments. Modi is instead wanting India to be self-reliant and no dependent on money from any country.
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Jun 02, 2019 12:37am
Congrats to all Indian friends !
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Jun 02, 2019 12:38am
It doesn't effect India at all. India is already rich enough.
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Jun 02, 2019 12:40am
POTUS must ask India to reduce the trade deficit by 10 Billion per year to match in three years. STOP Trade Deficit Mr. POTUS!! Way to GO USA!
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Jun 02, 2019 12:41am
We rise due to other's falls.
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Jun 02, 2019 12:49am
Is it $80 million or $80billion. I go for the billion
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Jun 02, 2019 12:51am
No Impact on India. It is calculated risk between US and India
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Jun 02, 2019 12:52am
@Naxalite, Sorry, no good news for you. It is calculated decision.
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Jun 02, 2019 12:59am
@Alla Bux, There were only 2 choices for India: either give up this GSP benefit which amounted to 230 mn$ or give up the data of Indians (which is worth billions considering their utility to Artificial Intelligence & Data mining firms) and compromise on the access of affordable medicines to millions of poor Indians. The 230 mn$ was evidently a small price to pay considering the other major demands by the could be skirted, at least for the time being.
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Jun 02, 2019 01:04am
We should also not give preferential treatment to India. We should make a trade deal with the USA. It would be mutually beneficial to both of us.
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Jun 02, 2019 01:11am
Great news
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Jun 02, 2019 01:11am
5.7 billion is a very small fraction of the GDP of India - 0.2% of GDP
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Jun 02, 2019 01:12am
@Alla Bux, In your dreams my friend, buddy buddy honeymoon is over, India is doomed, less growth and more employment a drastic is going to happen very soon. No exemption to buy Iranian oil otherwise your ex-buddy going to put their sanctions too. Saudia already pumping at their fullest to compensate the shortage but they have another big buyer China.
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Jun 02, 2019 01:12am
@Alla Bux, your can export Tata cars to America.
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Jun 02, 2019 01:14am
Donald Trump is doing what is good for USA
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Jun 02, 2019 01:15am
Kiss retaliatory duties goodbye too or face trumps wrath!
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Jun 02, 2019 01:17am
@Naxalite, I am waiting to see India challenge China on the regional oceans, per US dictat.
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Jun 02, 2019 01:18am
Pakistan media is trying to give pakistani people some relief By telling them they are not alone with their falling economy but the fact remains. India is growing and will be second largest economy only next to china in less than 15 years.
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Jun 02, 2019 01:18am
@Hafeez , buddies in US terms: give me your wallet , watch, and dhoti buddies!.
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Jun 02, 2019 01:18am
It’s US loss. Good.
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Jun 02, 2019 01:20am
@Alla Bux, you just made up the drop in trade on your own, this isn't a classroom exercise. Time will reveal the truth.
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Jun 02, 2019 01:24am
Enjoy now Modi , u will now see the real face of US.
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Jun 02, 2019 01:26am
US wants its dairy & agriculture export to developing countries but the developing countries are opposing hard as it will kill the local farmers daily living.
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Jun 02, 2019 01:27am
The US did the correct thing due to unfair trade deal which India had exploited. The US must also put sanctions on India for buying S-400 advanced missile system from Russia, just as the US has warned Turkey to cancel its acquisition of S-400 system from Russia or else. The US laws must prevail over other countries.
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Jun 02, 2019 01:31am
Trump's bat is swinging on the weak or those who are ready to fall to his knees.
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Jun 02, 2019 01:41am
Thankyou Trump.
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Jun 02, 2019 01:41am
Game of big players.. Small countries with weak economies should stay away from big games..
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Jun 02, 2019 01:51am
Besides $55 billion in goods India also exports some $30 billion in services. So this 5.7 billion is not going to make much of a difference. India has 25 billion in surplus balance in trade with USA. Now that the USA has done it what other leverage will USA have over India? Looks like this is a bad decision on the part of the USA. Actually threatening to remove this preferential tariffs would have given the USA some leverage over India. But Donald Trump has a tunnel vision and marches to his own drummer, his aides advise not withstanding.
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Jun 02, 2019 02:09am
@Ranger, Its all about business. No one should expect something for nothing.
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Jun 02, 2019 02:12am
The ever mercurial Trump
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Jun 02, 2019 02:18am
Record unemployment. Expect more trolls on Dawn.
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Jun 02, 2019 02:19am
Dawn downplays India and modi ofcourse by providing incorrect information. India's exports to US is around $55 billion. $5.6 billion don't impact much
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Jun 02, 2019 02:23am
@Alla Bux, Good. So India will be alright then. No worries, be happy.
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Jun 02, 2019 02:30am
USA may be isolating herself by doing so damaging more her own interests in the longer run.
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Jun 02, 2019 02:50am
Soon there will be Presidential election and this time Trumps days are numbered.
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Jun 02, 2019 02:55am
Indians will be out of their illusion very soon.
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Jun 02, 2019 02:58am
@Alla Bux, What absurdity? Where did you get your economics from? Preferential trade would have increased as the non-preferential would have (since it is a chunk of the total). However, since it is no more there, the 10% will attract the same tariffs as the 90% and therefore India will find it difficult to increase the total exports to US to $75 billion in 2019 (you'll see).
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Jun 02, 2019 03:03am
Its USA style
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Jun 02, 2019 03:15am
Next H1 visa fraud curb...
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Jun 02, 2019 03:15am
Great news. Good job Trump on this.
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Jun 02, 2019 03:21am
No more free lunch. Wake up and smell the coffee.
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Jun 02, 2019 03:26am
Pakistan still has it
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Jun 02, 2019 03:28am
@ob,
India is not a developed nation, nor has it graduated out of needing GSP. Turkey was removed because it graduated out of need. India was removed because it imposed tariffs, not because it doesn’t need GSP.
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Jun 02, 2019 03:29am
@Alla Bux,
You’re saying Indian exports will increase by 50%? Doubtful.
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Jun 02, 2019 03:33am
@Ranger, India has its own economic interest.
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Jun 02, 2019 03:35am
Jay ho
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Jun 02, 2019 04:08am
Its 80 Billion Dollar rather than 80 Million Dollar in the second last line. Correct plz.
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Jun 02, 2019 04:11am
@Khan, how does this help us?
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Jun 02, 2019 04:12am
India don't need any compassion from US
We have pharmaceuticals & IT sector to rob US.
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Jun 02, 2019 04:14am
India deserves this treatment.
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Jun 02, 2019 04:17am
@Alla Bux, Next US will squeeze the $56 billion imports as well. Back to lean times. No more handouts.
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Jun 02, 2019 04:19am
@Naxalite, Wait until they kick their rear end also ;)
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Jun 02, 2019 04:20am
Not a big issue for India.
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Jun 02, 2019 04:26am
@Hafeez , "No longer buddies???"
There are no buddies, Iron brothers in diplomacy. It's all interest. In 80s, US was focused on defeating Soviets in Afghanistan, and Pakistan was used. Now, US and China are vying for supremacy in Asia and Pakistan is allowing itself to be used by China. That was strategic interest, but the issue between US and India is purely commercial. Removal of preferential trade will impact the prices of the export, but the new govt should work out to fix the issues.
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Jun 02, 2019 04:31am
Black day for India!
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Jun 02, 2019 04:36am
Honeymoon is over
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Jun 02, 2019 04:48am
@Naxalite, you don't really know how the global economy works, do you?
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Jun 02, 2019 04:52am
In their hurry to edit the original AFP article (without acknowledgement as usual) to shield Pakistanis from harsh realities, it looks like they changed 80 billion to 80 million in the last paragraph. By the way, whenever you see an AP or AFP article on Dawn, I urge readers to find the original article on the internet and read fir themselves.
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Jun 02, 2019 04:52am
@ob,
Is the growth slowing down to 5.8 percent also a great accomplishment?
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Jun 02, 2019 05:33am
this shows unlike Pakistan, India has something to export
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Jun 02, 2019 05:54am
We have more than 80 billion in trade with US with trade surplus!. So 5.7Billion is peanuts! It will not change any thing!
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Jun 02, 2019 06:08am
Good job Trump. India is unreliable and is taking advantage of its poor conditions vs US.
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Jun 02, 2019 06:09am
India always stood by its people in past. I dont think it will be different this time.
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Jun 02, 2019 06:15am
@ob, what ? Like what did you just said, success ?
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Jun 02, 2019 06:18am
Good work by our FM and FO.
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Jun 02, 2019 06:35am
Last line says all "referential trade accounted for a fraction of its nearly $80 million in annual exports to the US."
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Jun 02, 2019 06:38am
Bad Omen for Narendra Modi after the Elections 2019?
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Jun 02, 2019 06:57am
trumph is correct ...
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Jun 02, 2019 06:59am
India will not give free hand to large American corporate. Look at Pakistan today for an example for giving free market access. We don't believe in honey, mountain nonsense. Our nation is Paramount
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Jun 02, 2019 07:13am
India GDP growth is still 5.8% -- that is still higher than China's GDP growth, India's main competitor.
Other small economy and poor nations in the region, such as Nepal and Bhutan and Maldives and Myanmar and Pakistan are struggling to attain even 2% growth -- that is the main concern for these poor countries in the region.
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Jun 02, 2019 07:19am
@Hafeez , “sovereign country” don’t mix up between friendship and national interest .and India is doing exactly what we need to do .you understand what I mean ???
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Jun 02, 2019 07:28am
Modi is busy pleasing Pakistan to open its airspace for India.
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Jun 02, 2019 07:41am
("small" correction) 80 Billion not million in annual exports India to US
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Jun 02, 2019 07:47am
Thankgod, we are not in any gray, black yellow list.
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Jun 02, 2019 07:50am
Good decision by India. It’s important to protect local businesses which generate employment and revenue. Indian export won’t anyway.
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Jun 02, 2019 07:57am
India is relatively a strong nation with independent policies. It does not bow to US or IMF.
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Jun 02, 2019 07:59am
This is begining of the end of once seemed endless friendship. More to come.
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Jun 02, 2019 08:02am
@Straight talk , .......... The US in the last 15 years have invented more new technologies and industrial process that are too many to talk about in this space. The mobile phone invented in the US. The computer invented in the US. The United States is about much more than oil. Oil makes machines run. Every country needs oil and petrol. No oil, no industry, no jobs.
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Jun 02, 2019 08:06am
To this in perspective total Indian exports 2019 is about 550 billion dollars and total trade is 1.1 trillion dollars
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Jun 02, 2019 08:14am
Party time in pakistan.
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Jun 02, 2019 08:35am
Great move by the US, modi's hugs didn't work
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Jun 02, 2019 08:35am
@Straight talk ,
USA is not isolated at all. Actually USA has the opposite problem. Too many people want to go to USA and too many countries want to do business with USA. USA is probably the least isolated country in the world.
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Jun 02, 2019 08:36am
This is Trump being Trump, putting up pressure for a better deal.
And India should give the US a better deal given the importance of the relationship not only for India, but for the globe. This century will be defined by the partnership of the West with the East. India has tremendous opportunities, being ultra protectionist does not help, rather focus on being competitive, and well regulated.
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Jun 02, 2019 08:37am
@Alla Bux, total India export to all countries is $ 300 billion. Removal of preferential treatment for $ 5 billion is insignificant. Trump is re examining favorable treatment to India, Turkey, Canada, China etc. Things will settle sooner or later.
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Jun 02, 2019 08:43am
It hurts but India is ready to brace it's impact.
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Jun 02, 2019 09:47am
India should not do any rethink as far as defence purchases from Russia is concerned .
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Jun 02, 2019 10:01am
Indians and Chinese have looted billions from USA through their cheap and fake manufacturing and IT related services ! We need to keep them checked ! Trump has done an excellent job in curtailing Indian and Chinese imports ! Limiting the H1b program which has been misused and exploited by the Indians! Hundreds of thousands of cheap and inexperienced labor has been dumped this hampering chances of genuine American labor to work locally ! America first and then anybody else !
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Jun 02, 2019 10:04am
@ali, You guys are still the least happy state even lower than the Somalis !
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Jun 02, 2019 10:05am
@ob, With the most number of people living in slums , you claim to be a developed country ?
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Jun 02, 2019 10:14am
I guess had to happen sooner or later. Cant take the benefits reserved for the lowest income countries for ever.
No body want to give away the free money it receives. But you don't hear Anti US chant from India on this.
No Moral argument to oppose US on this.
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Jun 02, 2019 10:18am
@Rani, Hugs dont mean ... now allow us to swindle you!! It is a provision made for the least developing countries - fairly cant continue claiming that status.
It only means we are your brother.... will work with you .... today and in the future.
Doesnt mean will agree with you on all things!!
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Jun 02, 2019 10:20am
@Sabir, Punjab Pakistan , Economic strangulation of Pakistan continues !!! Border Trade = 0. Duties =100%.
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Jun 02, 2019 11:31am
@Faisal Khorasani, Tough as you say . But 1.3b include new borns and infants too ( about 100 million) , old people, older women , housewives ( 400million) , teens and not yet 20 ( 100 million) . About 400million are already employed . That leaves new employment for 20-30million every two years . If we take our growth to 7% consistently , 50% of this could be achieved. Not as bad as you wished .
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Jun 02, 2019 11:33am
@Haseeb Ali , my dear friend if writing this feeds your family and you in Pakistan, may I say , keep writing a thousand times. You need food on your plate.
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Jun 02, 2019 11:35am
@Zak, I presume , its Karachi you are talking about . But that is old news.
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Jun 02, 2019 11:38am
@Alam USA , I agree . But tough ask to make taxi driver and dock labourers to learn coding if you ask me.
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Jun 02, 2019 12:01pm
@MANISH, excellent reply
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Jun 02, 2019 12:05pm
@Askari, try saying that to the traders who will suffer.
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Jun 02, 2019 12:11pm
The collection from GST for April 2019 is Rs. 1.13 lakh crores, which is more than 16 billion dollars.
USA can do what it wants and India will do what is best for it.
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Jun 02, 2019 12:11pm
@Deepak, Yes it will, unemployment is increasing daily its at its highest for FORTY FIVE YEARS and because of this Hindutva terror gaining ground, secularism is finishing in India. Fascism is the new India.
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Jun 02, 2019 12:13pm
More free advices.... Wow.... These below commentators have huge knowledge on Indo-US relationships and suggesting what to do? Sorry, Pakistanis ... We have pool of knowledge & experience to how to handle this. That's why we don't fall in any US or Russian bloc... We milk everyone according situation.
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Jun 02, 2019 12:16pm
There’s lot of misconceptions in the comments triggered by wrong figure reported in the end. Indian exports are close to $80 billion per annum to US. Trump has taken away GSP status which will affect $5.7 billion of this trade. Exporters have to pay more to US government for these goods. Which means these goods will become more expensive for US citizens. Not sure who should become concerned.
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Jun 02, 2019 12:18pm
It had been a trade war between US , China. Japan. EU and now India joined this club. So ultimately it all will be sorted out with give and take .But in the meantime, let us see who blinks first.
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Jun 02, 2019 12:40pm
Due to GSP preferential status to India, in 2017 US businesses imported $5.7 billion products duty-free according to a Congressional..service report.
Now according to Coalition for GSP executive director Dan Anthony, Trump's decision will cost American businesses over USD 300 million in additional import-tariffs every year.
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Jun 02, 2019 12:45pm
A possible benefit of imports' tariff would be higher tax-revenues for USA govt when overall inflation in USA is low.
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Jun 02, 2019 12:46pm
Pakistan should take care of its future.
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Jun 02, 2019 12:47pm
@Asif, That 7% is now less than 5%. Thanks to 5 years of Modi rule. Check the latest govt numbers.
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Jun 02, 2019 12:48pm
Dawn you have tried your best to always portray INDIA in bad light.zit doesn't matter we ate still one of the fastest growing major economies,worry about Pakistan / sliding dollar and next loan
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Jun 02, 2019 12:48pm
@Zak, With fifth largest economy and growing at fast speed of little more than 7% pa and Modi ji again in helm of Affairs, India only to way forward. Now it's time to lead the World. But with huge external unpaid liabilities Pakistan will collapse sooner than expected.
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Jun 02, 2019 12:49pm
@Hari, Defy US sanctions on Iran and you will be in a bigger economic mess than first 5 years of Modi govt.
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Jun 02, 2019 12:52pm
India should happily say, wish you the same :). Trump understand only his language , just show him that.
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Jun 02, 2019 12:53pm
@A shah, India is a superpower? Keep day dreaming.
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Jun 02, 2019 01:01pm
@Imran, US is a 20 trillion economy and China is at 12 trillion. India is no where even close to this number. Please can you explain how it will be second largest economy in 15 years? It’s good to have a dream but having day dreams is not good.
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Jun 02, 2019 01:07pm
India has the lowest Exports/GDP ratio among large economies, to that extent impact on GDP will be minimal. It is exporting countries like Germany, China, Japan and many in SE Asia who are going to be negatively impacted in a trade war.
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Jun 02, 2019 01:07pm
@balaji, India’s growth was 5.8% in March. Welcome to Modi economics for next 5 years.
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Jun 02, 2019 01:14pm
Trump and the USA learning it the hard way. But then China had to be confronted which had become unscrupulous for quite sometime now.
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Jun 02, 2019 01:32pm
@Bilal, 'India’s growth was 5.8% in March.'
Overall growth for full-year is still 6.8%. Low growth of 5.8% in Q4 due to liquidity-issues in non-banking system which is getting resolved slowly.
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Jun 02, 2019 02:13pm
See now who stands isolated internationally..
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Jun 02, 2019 02:15pm
We are in no position to judge when we are ourselves getting IMF loans.
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Jun 02, 2019 02:17pm
@mady, You did answer Bilal question - cheap very cheap / he is talking about size of economy!!!!! - Unbelievably Ludicrous
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Jun 02, 2019 02:22pm
@Bilal, @Asif, That 7% is now less than 5%.
@Bilal, @balaji, India’s growth was 5.8% in March.
@Bilal Look at your two simultaneous posts. Very inconsistent.
Be better prepared before post anything.
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Jun 02, 2019 02:26pm
@R S SHARMA , "At last some good news for Pakistan" , Try to step out of small-mindedness.
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Jun 02, 2019 02:45pm
@Naxalite, "Sigh! Such a short honeymoon period for Indo-US ties". Naxalite, you made a point, I think there was no true love, she was looking for a huge dowry, he was n't willing to give.
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Jun 02, 2019 02:50pm
@Zak,
Take your own advice and lie low lest you collapse from your deficient brain.
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Jun 02, 2019 02:52pm
Americans tried to make India a bulwark against China. Donald Trump realized that it was a mistake, he is trying to correct it.
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Jun 02, 2019 02:53pm
@Zak,
Mumbai ahmedabad bullet train costs 15 billion dollars. It might cover your deficit.
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Jun 02, 2019 02:56pm
@ob, "India is now a developed nation".
Really???
Best achievement of modi - to live in make-believe world!
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Jun 02, 2019 02:58pm
@Priyesh, well lets see if trumps next move will only be regarding 190 million?
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Jun 02, 2019 02:59pm
@Desi Dimaag, what is the weather like on your planet?
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Jun 02, 2019 03:00pm
@saad, LOL
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Jun 02, 2019 03:22pm
@Bilal, An Oxford graduate economies is still lower than a tea seller.
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Jun 02, 2019 04:10pm
5.6 billion may seem huge to Pakistanis. That's what they expect to get from the IMF over the next three years.
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Jun 02, 2019 04:34pm
@Zak, it's good to see you happy at last...go and have your one time meal a day.
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Jun 02, 2019 04:42pm
@Asif,
You forgot to change back to your real name. Oops.
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Jun 02, 2019 04:47pm
Fairytale has ended. Welcome to the real world.
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Jun 02, 2019 05:06pm
@Zak, "We are in no position to judge when we are ourselves getting IMF loans."
Certainly... this makes sense.
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Jun 02, 2019 05:43pm
@saad, I would say very late realization for you.
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Jun 02, 2019 05:56pm
@Zak,
Living on generosity of Americans "
Is it ? You need to have a quality production to export 6 billion worth of stuff to US.
Sir you to have something having the best quality,but you find it difficult to export to USA due to security checks.
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Jun 02, 2019 06:02pm
@Zak, US will not provide any aid or free F16s to slumistan. Better check your own home out.
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Jun 02, 2019 06:10pm
@fairplay, okay. Fascination noted.
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Jun 02, 2019 06:14pm
@ob, it's peanuts for India. You and gaga over wrong figures, it's 80 bn not mn. In coming days Modi will give you economic surprises, you know that would be disappoint for you.
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Jun 02, 2019 07:04pm
@Rehmatullah, please get educated about India trade level with USA. Don't be like hate person
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Jun 02, 2019 07:21pm
@Zak, It's trade not 'Aid' dude.
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Jun 02, 2019 07:25pm
@Dev Mehta, It's $80 million, cuz most of the items in the Basket fall between 2-3% duty bracket.
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Jun 02, 2019 07:32pm
@Zak, Yes, it's true there is tussle, there is pressure tactics, there is US, China, Russia, India, Iran, Turkey.
Hey but wait a minute, where are you? You are actually out of picture now. No one even talking about you buddy.
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Jun 02, 2019 07:42pm
@Bhaijan, appreciate your rationale, but I can assure you India is neither a minion nor Ally to any other nation, it's just a trading partner based on mutual interests. Actually if you look behind, India has always remained non aligned.
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Jun 02, 2019 07:46pm
@Tamilselvan , would like to correct you dude, out of total $83 billions export to US, major chunk of $32 Billions is IT & Services export.
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Jun 02, 2019 07:48pm
@Anil, "Modi has other options which he will disclose at right time."
And he told only you this already?
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Jun 02, 2019 07:59pm
@Dr. Salaria, Aamir Ahmad, No Doc, Actually sitting in lap of US during whole era of cold war, you looked every other nation in someone's lap.
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Jun 02, 2019 08:51pm
Guys, first off, I am a US citizen of Pakistani descent. I am in textile business. I do travel to India and Pakistan on business. So I DO know what I am talking about. I just stated facts. If you do not like it, that is fine too. According to the office of the United States Trade Representative Indian exports of goods and services to US in 2018 were 83.2 billion. So 5.7 billion is LESS than 7% of India's total exports. Already India is taxed on the other 93% at regular rates. India's trade surplus with USA is around $24 bllion which is about the same as our TOTAL exports to all countries. So let us worry about increasing our exports than celebrating puported decrease in India's trade with the USA.
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Jun 02, 2019 10:26pm
@mady, Even at that rate, India is adding a whole Pakistan every alternate year to it's GDP. btw recently heard Pakistan's growth projection is as low as 2.3% for next 5 years.
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Jun 02, 2019 10:36pm
@Bilal, actually not 15 year, it's projected on 2040. And u don't worry, we r okay with going slow. After all we don't have a 'magic wand' named CPEC.
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Jun 02, 2019 10:39pm
Need to kick out these American companies who cannibalise the local market even if it means they have to go red for a decade. American investment comes with a huge pinch of salt and every growing country should tread with care.
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Jun 02, 2019 10:41pm
RIP Globalisation.
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Jun 02, 2019 11:22pm
@Sanjeev, India, snubbed by Russia, China and US as they all make strong contacts with Pakistan as the true regional power.
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Jun 02, 2019 11:25pm
@Sunil BURMAN, You just explained India's economic position. Indian economy was described by IMF as 'on the brink economy'. One jolt and total collapse. Forget Pakistan you have bigger problems with $800 billion debt.
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Jun 02, 2019 11:27pm
@Zak, Our loan is miniscule compared to India's gargantuan one. Don't compare a mountain to a mole hill.
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