In a recent policy letter, the famous agricultural economist Ashok Gulati said that India should change its agricultural trading policy. They believe that India should adopt a separate policy for every object in order to gain more benefits in the world market.
This policy letter is designed for the ICR for Indian international economic relations. It says India should avoid imposing more than 50% of the farm products. Instead, the country must consider implementing “fee quota” in essential products such as wheat and milk, so that domestic producers will not face the loss and international trade will not be affected.
Increased conflict with the United States
US President Donald Trump has implemented 26% fees on many products exported from India. This is difficult for India to compete in the US market. However, experts believe that this may be an opportunity for India.
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China has 54%, 37% in Bangladesh and 46% in Vietnam, which is much higher than India. This means that India can now capture the retaliation markets, especially in the most laborious areas such as clothes and clothes.
New strategic requirements for agricultural exports
India exports the most to the US. Currently, these products are 0-5% and India’s market share is more than 40%. But after implementing 26% of charges, Indian products will become expensive, which will benefit countries like Ecuador and Argentina.
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Rice may be affected. Thailand is already paying 36% tax in the United States, but now India will be very difficult. India needs to improve the branding and quality of its basmati and other rice varieties so that it can maintain its grip in the US market.
European Union will become a new option
It is advisable that India should not rely on the United States in a policy letter. Instead, focus should be paid to markets like the EU (EU) and the UK. The European Union has a 28.42% share of global imports, which is a great opportunity for India. For this purpose, India will have to work fast with these countries in the Free Trade Agreement (FDA).
Mission 500
The study essay suggested that India should follow a constructive view instead of spoiling a relationship with the United States. The Indo-YUS trading negotiations, which begin next week, must be replaced as part of the “Mission 500”, which means that the Indo-YUS bilateral trade will be extended to $ 500 billion by 2030.
One thing from this entire statement is clear that India should bring flexibility in its policy to advance in global trade. Whether it is shrimp, rice or cloth, decisions must be made in each sector. Also, except the United States, you need to see opportunities in the EU and other markets.
. 500 Business Target (D) Septo Payment Paper (D) Indian Agricultural-Economic (D) Indian American Charges (D) India Taxes (D) India US Payment Talks
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