Big update on India and America trade deal
National News: The sourness in the relations between India and America has become clearly visible in recent times. It started after Operation Sindoor, when America did not get the full credit for the ceasefire between India and Pakistan. Donald Trump did not like this, and he took the path of challenging India's decades-old relations. In this sequence, the US administration imposed a heavy tariff of 50 percent on India, which made the trade environment between the two countries more tense.
After this attitude of America, India clearly refused to bow down. The message of the government is clear that no kind of compromise will be accepted under pressure. This is the reason why now it is being speculated that India can also back out from the ongoing trade deal with America.
Donald Trump is repeatedly claiming that India is earning billions of dollars in profit by buying cheap oil from Russia. But many experts say that this is completely political rhetoric. In fact, India is importing oil from Russia according to the global market prices. No international rules are being violated in this purchase and sale.
Economic experts estimate that India saves about 2.5 billion dollars, i.e., about 2.22 lakh crore rupees, annually by buying oil from Russia. India is taking oil from Russia at an average rate of 3 to 4 dollars per barrel, which is in line with the current global rate. But Trump is exaggerating these figures and using them to put pressure on India.
The trade deal talks between India and America are already in a difficult phase. Experts say that America's conditions, especially in the case of agriculture and consumer goods, are not at all acceptable to India. Prime Minister Narendra Modi has also made it clear that the interests of farmers will not be compromised, no matter how much pressure America exerts.
Some experts also believe that banning investments coming from China has been India's biggest mistake. If India opens the market for Chinese investment again, it can not only gain economic strength but also reduce its dependence on countries like America.
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