00:00PM Modi's trip is happening at a time when Donald Trump's tariff policies are a topic of discussion around the world.
00:16The trade war between China and the United States has begun, while Donald Trump is a little soft on Canada and Mexico.
00:24Although it is difficult to say how long his softness will last.
00:27US President Donald Trump has also been talking about tariffing against India. In this case, PM Modi's visit could be a topic of discussion.
00:36Before this trip, India has taken some steps to appease Donald Trump's anger.
00:42The Finance Minister has reduced the average import fee by 13% to 11% in the general budget.
00:50Apart from this, India is planning to increase the import fee to more than 30 products including luxury cars, solar cells, and assignments.
00:59This could increase import from the United States due to the rise in global trade tensions.
01:05Experts say that such steps can play a major role in the tariff issue with the United States.
01:12India can tell Donald Trump what steps it has taken to boost US imports and what it is going to do.
01:20Sanjay Agarwal, President of the Central Board of Indirect Taxes and Customs, told Reuters in an interview that
01:26different Indian government departments, including those in charge of heavy industry and renewable energy, will soon start working with local industries to reduce AIDC.
01:42AIDC is an optional import duty, which is collected by the government to raise money for the future.
01:50Agarwal said that after discussing with the industry, the ministry will select products from the list for tariff reduction.
01:58This list includes 32 products such as luxury cars, solar cells, ships, sports vessels, equipment used to make semiconductors, and other machinery.
02:10AIDC tariff is between 6.5% and 70% on imports.
02:20He said that India's average import fee, along with AIDC, is much higher than that of major trading partners such as the United States, China, and Japan.
02:31Sanjay Agarwal said that we cannot take a big step all of a sudden. We will have to take small steps.
02:37He referred to India's strategy and said that we are gradually reducing tariffs to protect domestic industries and increase their competitiveness.
02:48He said that the top 30 imported items from the US to India, such as oil products and diamonds, all fall under the low-tariff category.
02:57Donald Trump has expressed his discontent with India's trade imbalance.
03:01He said earlier that India imposes a lot of tariffs on American products, so we will do the same.
03:08To avoid this, India has made a lot of preparations at its level.
03:12Now he is in a position where he can reduce Trump's discontent.
03:17Experts believe that by handing over PM Modi to India, Donald Trump can make it clear that America is at the top of India's priority list.
03:28So what is your opinion on this whole news? Give us your opinion in the comment box and keep watching Good Returns for such updates.
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