00:00So joining at Asianate News today is Brijesh Goelji.
00:05Brijeshji, first of all, you know, Trump's tariff of 50% on Indian exports to U.S.
00:10It took into effect from 27th of August.
00:14It's been entire one day now.
00:16How do you assess the situation?
00:19What is your immediate assessment?
00:21How huge is the blow?
00:22Yeah, it's very unfortunate that U.S.
00:27they impose 50% tariff on Indian products and it will affect badly Indian textile industry,
00:35Indian jewelry industry, Indian leather, pharmaceuticals, though he hasn't announced
00:40on the pharma, but the sword on the neck already and the electrical, electronic sector, all
00:48these sectors will be badly affected.
00:50As you see, on the last financial year, India exported around 53% textile product, around
00:5953% gems and jewelry, 37% leather.
01:03These are the key sectors in which India deals, India exports in a very large number to U.S.
01:10So this sector will be badly affected.
01:13What all countries India can actually look up to in order to diversify its export market?
01:18Yeah, see, India should seek new country options like Vietnam, like Singapore, like Germany,
01:27UK and other European countries also.
01:31So there are the very good markets of electronics, pharma, textile, seafood and leather.
01:40These are the key items in which India will struggle, India will face huge problems.
01:46India will seek new options for this country, for this export.
01:51India should also reconsider its export policy.
01:53There are lots of hurdles in its export policy.
01:55So we will have to, we can't depend on USA itself every time or China.
02:04In previous years we have seen how we have depended on China and how we solve problems with China.
02:12So we should, we should seek other countries options also.
02:17Uh, Rajesh, because you are the chairman of CTI, you, the CTI is a body which actually protects the interests of, you know, the entire industry community.
02:26Have you reached out to the government in order to, you know, kind of request some sort of measures to provide a cushion to these blows?
02:34Yeah, a few days ago we have written a letter to Prime Minister Narendra Modi ji.
02:40We have sent a full details and how we can promote our Indian products because from last few days we are,
02:47we are, we are, we have been watching that Prime Minister Modi ji are saying,
02:50use Swadeshi, Swadeshi ga istamal ki jiyeh, Indian products ga istamal ki jiyeh.
02:55So he regularly, he has been saying that use Indian products, Indian soil products.
03:01So, we have sent them a few suggestions also.
03:04And yesterday we have sent a letter to, uh, Commerce Minister Pius Goelji also.
03:09We are seeking, we are seeking their time also.
03:13We want to meet him and we have good response from their ministry, their concerned person.
03:18I think we will meet in few days to Pius Goelji.
03:22We have a complete memorandum, complete roadmap.
03:26How we can promote our, our items to other countries also.
03:31How we can promote our Indian, Indian products in our country.
03:35What should India, our country do to promote its, its own manufacturing, its own, own products?
03:43Prime Minister Modi has been urging all the Indians to actually become self-reliant, buy Indian products, go vocal for local.
03:51But, uh, at this time, I also want to ask you how crucial it is industry wise.
03:56Because when we talk about the hardest hit sector, for example, textile, we do know that India imports textile materials also.
04:03So how can we, you know, industry wise actually, uh, look industry wise and then solve this problem?
04:09Because India, if it's taking a hit on exports in textiles, then definitely we can do something, uh, so that we have to import less raw materials in these particular industries.
04:19Yeah, surely India will, that's why I'll send you last year, India exported very, you know, large number of textile items, clothes items.
04:31And India is the biggest market of textile industry.
04:35And we are facing competition with the, uh, Bangladesh and Vietnam.
04:39These are the countries where very good quality of textile to their manufacturers.
04:44And they, we are competing them in this industry.
04:48And, and similarly, USA imposed 50% tariff on India.
04:52Similarly, they have imposed around 20% tariff on Bangladesh and Vietnam also.
04:57So it will be very difficult for our manufacturers, our textile companies to, uh, sell their products and export their products to USA.
05:07Because, because already we are, we are facing big competition with Bangladesh and Vietnam.
05:11We are the very good manufacturers of textile, textile products.
05:15So it will be very difficult for our, our manufacturers, our companies.
05:20And, uh, surely it will affect very badly.
05:23And last two days, uh, we have seen, uh, media reports that in Gujarat, Surah, Tamil Nadu,
05:30lots of states, people have stopped their manufacturing, stopped their, uh, production.
05:35So it will be, it will definitely, uh, discourage our employment around 10 lakhs of jobs.
05:44So it will, I think, will be affected in, uh, especially on textile industry.
05:49Have you also urged the government to actually, uh, impose counter tariffs on US?
05:55Yes.
05:56Yes.
05:57Yesterday and now later we have sent to Modi that India should also impose counter 50% tariff on Donald Trump.
06:07Because we have seen that past history.
06:10If you, if you see, if you, if you see, if you, if you see yourself, if, if, if, if Trump's policy is that in future, we have seen that.
06:20If, if any country, they become weak, then he always, he becomes aggressive.
06:26If you impose tariff, it, it might be some, uh, some pressure for their own benefactors,
06:32manufacturers or companies he might he can reverse their carry also because until it will be very
06:39difficult to face our issues and that one thing is more that we have sent a request to indian
06:46government that because textile industries uh they think around 18 percent gst on our
06:52textile industry close side comes so india should uh our gst council is going to help
06:58on third or fourth seventh september meeting so we are we have requested them that 18 percent gst on
07:05clause is very very very high so india gst council should uh do it cut down and it should be around
07:13five percent flat so it will be big boost to our textile industry and some other relief packages
07:19also should be there right uh brujesh also one final question from my side you know when we talk about
07:27trump we do know that india u.s long-standing ties have taken a hit it has become so sour but
07:34because you are the chairman of cti you must be interacting with indian diaspora and u.s
07:38how is the people to people connect because when these orders are getting cancelled i'm pretty sure
07:42that it is not so easy for businesses to actually tackle it on a human level yeah people are very
07:50tense that i've talked two people in in the last few days but they have sent the material to u.s
07:56companies their materials uh materials are on the way and they have taken the order uh they are very
08:02tense that what become the actual scenario actual status of their payments and the material they have
08:09gone they have sent to them what will be the status so they are very tense actually those industries
08:15few textile people because i am from auto industry i personally don't export usa but there are lots
08:23of companies in our segment auto auto industry uh they are very good uh exported to u.s in auto components
08:31so people are telling that what will be the future that's why people people are also little bit
08:37optimistic that might be india usa deal uh some talks talks becomes hand and there they can reverse
08:45their tariff and if it comes around 20 25 percent it will be equal to other countries then we can
08:50compete other countries because you see uh on the whole world if you see the chart you see the list
08:57india and brazil are the maximum 50 percent that if they have they have been imposed so india is the
09:05maximum so it will be very difficult for india in those items then we are depend on usa we we export very
09:13largely largely to usa yes surely that's why i'm sending you that especially textile industry
09:23we have seen in the media reports also they are very tense and
09:28their butter and bread is in danger actually because if you you are heavily dependent on usa last 20 30
09:37years you are selling a crores and crores of dollars to export to usa and your industry is completely
09:43your production is heavily dependent on usa business people then definitely it will suffer it is going
09:50to suffer a lot so that's why uh a ball is in the court of the larendra moudi dd and english government
09:58see what decision they take and how should they deal with uh usa on this uh this tariff issue
10:06so next two days will be very very crucial very interesting that how how does it fall have you
10:14received some sort of grievance grievances letters from these industries these companies which are
10:20been not letter specific but yeah you know some lots and lots of whatsapp groups on social media
10:26i'm also very active on insta twitter and facebook on also social media platform i've got lots of messages
10:33and our whatsapp groups uh nationally we have lots of groups lots of traders in our groups uh we have
10:39got lots of references of their relatives people their relatives are dealing they all they themselves
10:47are doing so there are very very lots of people who are intentional who deal directly with usa and not
10:55only exporters uh importers are are also in the tension because because if india usa impose tariff there
11:05might be india can also impose uh counter telephone us exports then our importers will also going to be
11:13so importers are also in the tension
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