The levy of an additional 25 per cent on Indian exports to the United States came into effect today. US President Donald Trump had earlier announced a 25 per cent tariff on Indian imports after a deal between the two countries was not reached before the 1st of August deadline.
An additional 25 per cent levy was threatened when Trump accused India of buying Russian oil, raising the overall levy to 50 per cent.
Speaking exclusively to Akashvani, Dr. Ranjeet Mehta, CEO and Secretary General, PHD Chamber of Commerce and Industry, highlighted the Indian economy’s resilience. He said the country has thrived on adversity, and this is the time for it to look for alternative markets.
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