00:00Ministry of Commerce, other ministries have spent a lot of time in engaging with various stakeholders, various sectors.
00:07The reason they have done this is so that they can adequately project what the opportunities are,
00:14how do you position India and also adequately represent the interests of the Indian companies.
00:20I do believe that a lot of work, a lot of effort has gone into this.
00:24Anything that the government does and if they eventually sign, they will only do it.
00:29They have a very clear understanding of what the issues are and they will only do it if it is a fair deal.
00:35A fair deal is definitely something that industry would prefer.
00:38A trade deal also reflects a broader understanding between two countries.
00:43Sir, how hopeful you are of the US trade deal?
00:48I think it is difficult for me to attribute a percentage to it.
00:54All I can say is that the government, Ministry of Commerce, other ministries have spent a lot of time in engaging with various stakeholders,
01:05various sectors, with the larger companies, with the mid-sized companies, with the smaller companies.
01:11They spent a lot of time in engaging to try and understand what the issues are.
01:15The level of detailing that they have done is very good.
01:18The reason they have done this is so that they can adequately project what the opportunities are,
01:25how do you position India and also adequately represent the interests of the Indian companies.
01:31I do believe that a lot of work, a lot of effort has gone into this.
01:36So, I am not very concerned that anything that the government does and if they eventually sign, they will only do it,
01:44they have a very clear understanding of what the issues are and they will only do it if it is a fair deal.
01:49Having said that, between having a deal done, a fair deal done and no deal, a fair deal is definitely something that industry would prefer
01:57because otherwise you are imposed with a tariff of 26%, which if you compare with some of the other countries that India competes with in exporting into the US,
02:07particularly the neighboring countries of the US or some of the Eastern Asian countries where the tariff rates are lower,
02:16there definitely some of the Indian exporters will have greater competition from those markets because they will have a tariff advantage.
02:24So, I would say if it is a fair deal on balance, India's Indian industry is very keen that the deal gets done because of the tariff issues,
02:33but only if it is in the broader interest of India.
02:36If it does not materialize, then how is it going to impact India?
02:41Very difficult to say. I think as I said that from an export standpoint, I think in some products,
02:50with some countries India's competitiveness will get challenged more and to that extent I think there will be in some sectors where there could be challenges.
03:00The second, I would say at least on the, you know, a trade deal also reflects a broader understanding between two countries,
03:14that there is a strategic economic interest, joint economic interest that needs to be pursued.
03:19So, if a trade deal gets signed, then I think the economic cooperation overall just increases.
03:24I think that may also, in particular with the US, if it is not signed, I think it will take a few steps back.
03:32BLK CONTINUES
03:39By the way, we do not forget that the user can be used.
03:42It is a sense of what I would say.
03:44It is a very significant problem.
03:46It is a very crucial problem.
03:47Please keep an eye out.
03:49If it does not know, we should have this big deal to make sure that they are just going to find the use of the CC021.
03:52And we can be prepared.
03:53It is a very important problem.
03:54I think the US is a very particular problem.
03:56It is a great solution.
03:57But the US is going to be prepared.
03:58It is a very difficult problem.
03:59Yes, it is a very important problem.
Comments