Sign Up to Our Newsletter

Be the first to know the latest updates

Sunday, 27 July 2025
Economy

India US trade deal: Industry ready if US trade deal doesn’t materialise: CII President

India US trade deal: Industry ready if US trade deal doesn’t materialise: CII President

The Indian industry is designed for any results about the proposed bilateral trade agreement with the United States, according to the President of the Indian industry, Rajiv Memani, who emphasized that the country’s business sector would not pursue deals with national interests.

In an interview with ANI, business talks recalled the government’s comprehensive counseling process with industry stakeholders before India’s position.

He said, “The Government of India has given a lot of time to understand the concerns, issues and opportunities of the industry. Every industry has been consulted to understand from each size of the industry to understand how India should be deployed,” he said.
The CII president insisted that there is no compulsion to end a deal at any cost.

“There is no doubt that India will only deal when it will be in India’s interest and the interest of America. The deal will not happen until it is in the interest of the two countries. There is no compulsion in this regard,” said the land.


Expressing readiness to the occupation, the land underlined the conditions under which the Industry Free Trade Agreement (FTA) would support. “If you ask the industry whether they want this FTA on favorable terms and if we get relatively better conditions than other countries, the industry wishes this FTA,” he explained. Potential benefits are important, especially about reduction in tariffs. “26 percent tariffs that have been imposed by 26 percent will come down and get opportunities to operate there. We will remain more competitive than other countries.”

The lame admitted that some areas would face difficulties if the trade deal (with us) is not physical, but emphasized the commitment of the industry for national interests. He said, “It is certain that some sectors and some industries will have to face difficulties, but the industries do not want to work in a way that bother the country. The industry wants to do in such a way that the country benefits,” he said.

The Chairman of the CII identified particularly potential competitive challenges, especially in the motor vehicle field. “If you look at auto companies, Mexico’s business deal is about 0 percent. If there is a 25 percent difference, Mexico becomes the most competitive,” he explained.

The memani predicted that Mexico would be the primary beneficiary if India fails to secure the favorable terms, with some possible benefits for Vietnam. “Maximum alternative replacement will come from Mexico, with some possibility from Vietnam,” he said.

Textile and textile industries can face special challenges due to the current benefits of Vietnam. “The clothing industry may be slightly less competitive because Vietnam has a 20 percent tariff,” said, “Existing trade relations can affect Indian competition, highlighting it.

Lummani warned against the expectation of immediate profit, even though a deal is over, trade agreements have been described as a “long game”. He emphasized that both countries would need to adjust to maximize the profit.

“Many American companies can also invest in India to export from India,” he said. Indian companies will also have to focus on their competition, “he said, the government may need to implement improvements and support measures to help industries become more competitive.

The comments of the chairman of the CII reflect a mature approach to international trade talks, where the industry supports government efforts to secure favorable terms while preparing for alternative scenarios.

“Business deals are two-way. Some things will be good, while some regions may face challenges,” said that the memory said, accepting the complex nature of international trade agreements and their various effects in various sectors of the economy.

Source link

Anuragbagde69@gmail.com

About Author

Leave a Reply

Your email address will not be published. Required fields are marked *

Stay updated with the latest trending news, insights, and top stories. Get the breaking news and in-depth coverage from around the world!

Get Latest Updates and big deals

    Our expertise, as well as our passion for web design, sets us apart from other agencies.