U.S. Tariffs: Catalyst for India's Agricultural Growth?
The U.S. imposed a 25 per cent tariff on Indian exports, seen as a temporary setback. B V Mehta suggests this could realign global trade and open new markets. With India's growing domestic market as a buffer, protecting agriculture becomes crucial for economic and livelihood security.
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- India
The recent imposition of a 25 per cent tariff by the United States on Indian exports is being labeled a "temporary setback" but could potentially pave the way for new market opportunities, according to Solvent Extractors Association Executive Director B V Mehta.
Mehta emphasized that these tariffs should be interpreted within a larger global context, noting that similar or higher tariffs have also been placed on competing countries. This, he suggests, could lead to a realignment in global trade, benefiting Indian producers in the long term.
He further highlighted the significance of a robust domestic market as a protective measure against external disruptions, especially as India emerges as a rapidly growing market. Securing the agricultural sector amidst these global trade uncertainties is crucial for maintaining economic and livelihood security.
(With inputs from agencies.)
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