Pramod Thomas is a senior correspondent with Asian Media Group since 2020, bringing 19 years of journalism experience across business, politics, sports, communities, and international relations. His career spans both traditional and digital media platforms, with eight years specifically focused on digital journalism. This blend of experience positions him well to navigate the evolving media landscape and deliver content across various formats. He has worked with national and international media organisations, giving him a broad perspective on global news trends and reporting standards.
VOWING to introduce a reciprocal tax if elected to power, former US president Donald Trump alleged that India, among all major countries, imposes the highest tariffs on foreign products.
“Perhaps the most important element of my plan to make America extraordinarily wealthy again is reciprocity. It's a word that's very important in my plan because we generally don't charge tariffs. I started that process, it was so great, with the vans and the small trucks, etc. We really don't charge. China will charge us a 200 per cent tariff. Brazil is a big charger. The biggest charger of all is India,” Trump said in a major economic policy speech in Detroit.
“India is a very big charger. We have a great relationship with India. I did. And especially the leader, Modi. He's a great leader. Great man. Really is a great man. He's brought it together. He's done a great job. But they probably charge as much."
Trum added, “I mean, I think they probably charge more than, in many ways, China. But they do it with a smile. They do it... Sort of a nicer charge. They said, thank you so much for purchasing from India. Harley Davidson came to the White House a long time ago during my third year or second year. I met with them. They were based in Wisconsin. I said, how's business? Good, good. What are the bad countries? Well, India is very tough. And they gave me some others. Why? Tariffs. I said, what are they? And they said like 150 per cent, some massive amount."
Trump told the members of the Detroit Economic Club, “I said so do you sell many motorcycles because you think people want to buy a Harley. No, we sell very few in India, but they want us to go there. They said, if you go there and build your plant there, we're not going to charge you anything. I mean, you can do whatever you want. I said I don't like that. And I see they went, they built the plant, and now they do their business with India. They probably do it outside of India too. They built a very big plant in many countries, they do that. Then all of a sudden, you hear that they're leaving Milwaukee or they're leaving wherever they may be located."
These remarks by Trump come following his praise for prime minister Narendra Modi earlier this week.
Trump described Modi as “the nicest human being”, saying the Indian leader is “a friend of mine”.
“Modi, India. He’s a friend of mine. He’s great. Before him, they were replacing them every year. It’s very unstable. He came over. He’s a friend of mine. But on the outside, he looks like he’s your father. He’s the nicest, but he’s a total killer,” he said.
Trump recalled Modi’s visit to Houston in 2019 to attend the ‘Howdy Modi’ event during his tenure and said: “It was beautiful. It’s like 80,000 people going crazy. We were walking around.”
The Republican candidate said he shared a “very good relationship” with Modi.
The Britain Meets India 2024 report said 667 British companies are already operating in India, generating £47.5 billion in revenue and employing over 516,000 people. (Representational image: iStock)
UK BUSINESSES are increasing their focus on India as a key market following the UK–India Free Trade Agreement (FTA), according to Grant Thornton’s latest International Business Report (IBR).
The report found that 72 per cent of UK firms now see India as a major international growth market, up from 61 per cent last year.
While only 28 per cent currently operate in India, 73 per cent of those without a presence plan to enter the market, including 13 per cent within the next year.
The Britain Meets India 2024 report said 667 British companies are already operating in India, generating £47.5 billion in revenue and employing over 516,000 people.
Among Indian firms, 99 per cent of those already in the UK plan to expand, while nearly 90 per cent of those not yet present intend to set up operations.
Anuj Chande, Partner and Head of South Asia Business Group at Grant Thornton UK, said: “The shift we’re seeing is clear: UK mid-market businesses are no longer asking ‘why India’ — they are asking ‘how soon’.
“With 73 per cent of firms planning to establish operations in India and over half of existing players looking to scale up within a year, this is a pivotal moment. The UK–India FTA is a game-changer, reducing entry barriers and accelerating opportunity, but it won’t remove the complexity of operating in a fragmented and dynamic market.”
Chande added that the recent UK trade delegation accompanying the Prime Minister’s visit has added to the impetus to trade and invest with India.
However, 63 per cent of UK firms cited regulation and foreign exchange controls as the main barriers to operating in India, while 38 per cent mentioned infrastructure gaps. For Indian companies, tariffs, regulation, and the UK’s fragmented regulatory system were the key concerns.
Despite the challenges, 21 per cent of UK businesses said they had no concerns about the FTA and viewed it as wholly beneficial.
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