WCD Times – Indian Business analyst and Economic advisor are afraid, that if the US is going to implement a Biggest Tit-for-Tat policy to India. US and India have Zero tariffs policy on over 2000 products exports to the US. If the US says no or if the policy is abolished, more than 1000’s of small sellers in India are going to be bankrupt in no time. The move to withdraw the Generalised System of Preferences (GSP) from India, which is available since 1970, will hit hard India with huge loses to its exports.
While Modi’s new E-Commerce policy triggered US Lawmakers and Tech giants like Amazon, Walmart who are very unhappy, Also making payments platforms of VISA, MasterCard, and others to localise data collection in India itself was the biggest drawback for US Companies and US Government. Trump is going to punish India with severe headaches for the Indian government and Indian businessmens. While India enjoys free trade and Huge investment from the US, US Products or US Companies cannot have any freedom of their own to be done in India like China.
The US Trade Representative (USTR) was completing a review of India’s status as a GSP beneficiary and an announcement was expected over the next two weeks, the sources said. “(The two sides) were trying to sort out the trade package, but were not able to actually finish the deal. In the meantime, these other things, data localisation and e-commerce, have come along. In a sense, it’s like someone has rained on the parade.” said in a news report. US Commerce Secretary Wilbur Ross will be coming to India in a few weeks time to meet Indian official and to raise concerns about New E-Commerce Policy and Data localization. While Trump calling every Company to come to the US and Modi’s Make in India didn’t work out as he thought.
Already the US is very unhappy about India’s tariff on US Products when the US-China Trade war started, Now the new E-Commerce policy, Data Localization has to be seen as adding oil to the Fire. As the General Election of India is on the way, Modi’s new Policies at the last moment are just to capture Votes of the small sellers and vendors. Making these types of Bad policies will only chase away Foreign investment and make a bad choice for foreign countries to invest in India and for Investors.
India’s bilateral trade between the US and India stand just only $126billion, which is just 1/4th of its total potential of Trade. PM Modi of India is doing Harm than Good to India’s Economy and Tarde.