Maruti Suzuki India Chairman R.K. C. Bhargava, taking a tough stance on the 50% punitive tariffs imposed by the US on Indian products, said that India should strongly oppose this type of ‘bullying’ (bullying) and compete with national solidarity. According to PTI news, during the company’s 44th annual general meeting (AGM) on Thursday, he said that being an Indian, it is our responsibility to maintain our respect and dignity and do not bow down to any type of international pressure policy. At this time the country needs to stand together.
Widespread impact of American tariff
America’s 50% tariffs came into force, the impact of India’s labor-dominated export sectors is expected to be directly. These include industries such as shrimp, apparel, diamonds, leather, footwear and gem-jewelery. Bhargava warned that this step could lead to reducing exports and cuts in employment opportunities. Tariffs have now become a weapon of diplomacy.
Bhargava stated that instability in global markets has increased in the last few months, and the use of tariffs personally by US President Trump has never been adopted as a diplomatic strategy. Tariff has now been made a tool of international diplomacy, not only a part of trade policy. Due to this, countries have to reconsider their traditional relations and policies.
Small cars can be cheaper
Bhargava reacted positively to the proposal made by the government to restructuring the GST structure. He said that if the proposal suggested by the Prime Minister applies, then the GST rate on small cars can come down to 18%, which will give direct benefit to the consumers. However, he also clarified that waiting for the official announcement of the final decision is necessary. It is pleasant that the government has realized that a large section in the country is of low income level, and small cars are required to make them more accessible.
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