Prime Minister Narendra Modi and US President Trump, have given the electronics industry hope for more stable policies. Although the specifics of the long-awaited trade agreement between the two countries are still murky, as are its effects on tariffs imposed on some industries. According to Trump, he and Modi have reached an agreement on a trade pact between the United States and India. These changes occur almost one year after the parties committed to pursuing a thorough bilateral trade deal.A reduction from 25% to 18% in the US-India trade tariff was one of the terms of the agreement. When asked about India, Trump responded that the country will levy zero tariffs and other non-tariff obstacles against the United States. Additionally, the additional 25% tariff that was imposed on Indian imports by the US in reaction to India’s purchase of crude oil from Russia will be removed.Trade Bells Ringing for iPhone ManufacturersThe proposed collaboration is not seen as a quick way to increase volume in India’s electronics sector, which is mostly involved in smartphone assembly for Apple. Investors and exporters may take this as a sign of policy stability, which could strengthen their plans for the future. Local powerhouses Tata Electronics… Read MoreStartupTalky- Business News, Insights and Stories
