India Stands Up to U.S. Tariff Bullying, GST Restructure Proposed
Maruti Suzuki Chairman R.C. Bhargava urged unity among Indians against 50% U.S. tariffs on Indian products, stressing dignity over bullying. The tariffs affect labor-intensive sectors. Bhargava highlighted global market upheavals and advocated for India's proposed GST restructure aimed at easing car tax burdens and benefiting consumers.
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In a call for national unity, Maruti Suzuki Chairman R.C. Bhargava has urged India to resist the punitive 50% tariffs imposed by the United States on Indian exports. Speaking at the company's 44th Annual General Meeting, Bhargava emphasized the importance of maintaining Indian dignity in the face of what he described as economic bullying.
The new tariffs, effective Wednesday, target labor-intensive sectors such as shrimp, apparel, and diamonds, potentially disrupting exports and employment. Bhargava noted that these trade barriers have sparked global market uncertainty, with the use of tariffs in international diplomacy reaching unprecedented levels under the current U.S. administration.
Bhargava also mentioned the potential benefits of India's proposed Goods and Services Tax (GST) restructuring. The government aims to introduce a two-tier GST system to alleviate tax burdens on small car consumers, although official ratification is awaited. This move is seen as a response to sectoral needs and consumer dynamics at the lower end of the market.
(With inputs from agencies.)
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