US Ambassador to India, Eric Garcetti, said that India should reduce its tariffs and that many companies are not coming to India because of the high rates. In an exclusive interview with India Today, Garcetti said that President-elect Donald Trump is right, in some ways. He was referring to Trump’s criticism of India’s high rates.
In the interview, when asked about Trump’s criticisms of India-US trade relations despite his praise for Prime Minister Narendra Modi, Garcetti said: “President Trump in some ways is right. We have to make sure that we have bigger, bolder conversations. During this administration we resolved a hundred percent of our trade disputes, so we have kind of set the table. Now if we are true to our word of wanting to replace our reliance on China, setting up scale for the world not just for our companies, from healthcare to pharmaceuticals to everyday electronics to critical emerging technologies; India is the place to be”
Garcetti said that India, however, needs to rethink its tariffs. “Too many countries are going out of China and not coming to India because tariffs should still be reduced further. Transportation and infrastructure can continue to be built on, as we can see, trademark protection, taxes, training, and talent of the workforce.”
“We will still continue to do well. But I personally believe India is looked upon as a trusted partner by the democratic world,” Goyal said at Business Today's Most Powerful Women 2024 event in Mumbai. Goyal, agreeing that Trump has brought up India’s high tariffs maybe once or twice but also has made it clear that he likes India and wants to expand business with India.