India Got Russia’s support in the Trade War Putin PRISED Make in India

India-Russia: India has got the support of its friend Russia in the midst of increasing the tariff of America. Russia’s President Putin has described India as the best country for investment. He said that investing in the Indian economy is beneficial and stable.

Putin’s statement came at a time when on April 2, US President Trump announced a new tariff on several countries, in which India has been imposed 27 percent tariffs. Earlier, Trump described India as a difficult country for trade. Amidst these steps of Trump, Putin has also praised India’s ‘Make in India’ campaign.

Putin said this

Russian President Putin said in a program, ‘Domestic production is being promoted under the leadership of Prime Minister Modi. Everyone knows about his initiative ‘Make in India’. Putin also told that Russia is ready to produce itself in India. He said, ‘I want to remind you that recently our company Rosneft has invested the largest $ 20 billion in the Indian economy.’

India told the best place for investment

Russian President Putin described India as a great place for investment. He said, ‘Prime Minister Modi’s government is creating a reliable and stable atmosphere for investment. Indian leadership is following policies that prefer the country in all sectors including economy.

Putin’s statement came at a time when US President Trump has announced a 27% tariff on India. Trump described the Indian Prime Minister as his friend but said that India is not treating America properly in terms of business. However, pharmaceuticals, semiconductor, energy and some minerals are exempted from this tariff, as these products are not available in the US.

Government of India response

The Government of India has carefully responded to the American tariff growth. The government has said that it is closely studying the impact of this decision and will also keep an eye on the opportunities arising from it.

US President Trump has announced an additional fee from 10% to 50% on imports from all business partners. The 10% fee on India will be applicable from April 5 and an additional fee of 27% from April 9.

This will be 27% fee, in addition to any US fee. Although this may affect the export of some products in India, experts believe that India is in better position than other countries. Countries such as Bangladesh (37%), China (54%), Vietnam (46%) and Thailand (36%) are facing more increased fees.