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Need to attract more Foreign Direct Investment (FDI) to
support the tariff affected sectors in the country-Laid
SHRI MUKESHKUMAR CHANDRAKAANT DALAL (SURAT):
India is facing today one of the highest tariffs of 50% imposed by
USA. Exports going to the USA that are targeted the 50% tariff
fortunately consists of only 1.21 % of India's GDP services exports
are exempted. Thanks to historical GST concessions, there is very
robust demand in the economy boosting more private & public
sector investments. It is also good to engaged in negotiations with
USA to develop some level of understanding to bring some of
these tariffs down in some sectors or at least avoid the risk of
further escalation. We need to induce those generation of reforms
which enhances capabilities of Indian trade & industry which in turn
will enhance India's export competitiveness. We need to relook into
the import duties on imported inputs which are used in the export
goods or items more particularly with reference to goods on which
50% tariffs are imposed which could further increase India's export
capabilities & competitiveness. India should take initiatives to
attract more FDI, which is showing sign of slowdown due to strong
dollar, particularly in tariff affected sectors. I demand that it will be
more appropriate to give temporary support to tariff affected
sectors like diamond, textile, steel, aluminium, auto etc. In
whatever way government could do to further prevent
unemployment.