Modi and his new ministers responded with two acts that illustrated their top priority: reinvigorating the Indian economy. The termination of the special trade status, which had eliminated tariffs on a small portion of India’s exports to the United States, had long been expected. “This will remain the guiding factor in the government’s approach.”The end of the preferential trade status, which takes effect Wednesday, will not have a major economic impact in India. India exported $83.2 billion in goods and services to the United States in 2018, but just $5.6 billion benefited from the zero-tariff designation for certain developing countries. “With this decision, Mr Trump is getting into election mode.”© 2019 New York Times News Service

Source: bd News24 June 01, 2019 20:03 UTC