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  1. If Donald Trump can mull protectionism for steel industry, Narendra Modi should do it too, says Sajjan Jindal

If Donald Trump can mull protectionism for steel industry, Narendra Modi should do it too, says Sajjan Jindal

Sajjan Jindal, in a tweet on Wednesday, said that since US Commerce Secretary Wilbur Ross is recommending higher import duty on steel and aluminium, India should consider imposing such tariffs as well as India needs a "level playing field."

By: | Published: February 21, 2018 7:25 PM
Narendra Modi, Digital India, ministry of electronics, india, Aadhaar, Common Services Centres, Digital Literacy Mission, Pradhan Mantri Rural Digital Literacy Mission If Donald Trump can mull protectionism, Narendra Modi should do it too, says Sajjan Jindal. (Image: Reuters)

As world’s cross-nation activities enter into a new world divide of open economy and protectionism, with Donald Trump holding the protectionist flag high, and China and India strongly advocating for a free economy, steel baron Sajjan Jindal has urged the Narendra Modi government to take the protectionist path as well.

Sajjan Jindal, in a tweet on Wednesday, said that since US Commerce Secretary Wilbur Ross is recommending higher import duty on steel and aluminium, India should consider imposing such tariffs as well as the recommendation is great and India needs a “level playing field.”

He added: Indian industry needs a level playing field, for which hand-holding by way of protection from unfair imports will add a fillip to its growth.

Recently, US President, ironically, criticised India for having 50% import duty on the import of on Harley-Davidson motorcycle even as it was cut from 75% to 50%, and threatened a reciprocal tax. The US announced to impose an extra 30% duty on imported solar modules, while India is merely mulling anti-dumping safeguard tariffs to protect local manufacturers from cheaper solar products. However, in the Budget 2018, India hiked customs duty on some of the items like mobile phones and television sets.

Although at the World Economic Forum, Narendra Modi criticised protectionism and pitched that India is ready for business. The steel industry in the country was under stress for quite some time leading to the highest number of bank loan defaults, however, analysts say that the industry is now looking up after a bad spell.

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