Modi In USA: India Inc Won’t Suffer Trump’s Tariff War

India incorporated, particularly the Pharma and IT sectors (H1 B visas), can heave a collective sigh of relief and thank Prime Minister Narendra Modi for averting a (trading) tariff war with the USA. Highly placed sources say Trump’s high praise for his Indian counterpart was the outcome of consistent backroom parleys over several months by NSA Ajit Doval, External Affairs Minister Dr S Jaishankar for phenomenal and strategic business growth between the two nations the trajectory of which would be impacted adversely if tariffs were imposed upon India. “Reciprocal tariffs are unlikely for Indian exports from pharma sector ($7.55 bn in 2023), pearls/precious stones/metals/coins ($10.17 bn in 2023) and electrical and electronic equipment ($9.89 bn) like exporters of goods and (IT) services to America. India secured an exemption due to the exemplary foresight of PM Modi and his business acumen that seeks to propel India to reach the $5 trillion target even as early as 2028,” the source reveals. Unfair news media constantly compares the Indian economy with the USA and China although both are $20 trillion plus economies, the source adds. Indian exports witnessed steady incremental growth since 2015 ($40.3 bn), 2016 ($42 bn), 2017 ($46 bn), 2018 ($51.7 bn), 2019 ($54.3 bn), 2021 ($71.5 bn), 2022 ($80.2 bn), 2023 ($75.8 bn) with the exemption of the Covid-19 pandemic fallout impacting exports in 2020 of $49.3 bn. recording namaste. More importantly, India seeks to reduce its annual business imports from China sounds like sweet music for the U.S. president Trump.