Experts believe that life will not change drastically in India under Joe biden. After all, your position on business and commerce is similar to your current position. While he attacks Trump’s policies to encourage offshoring and investment abroad, his website speaks of “Made throughout America by all American workers,” indicating a bias against foreign products, especially from China.
“If we make smart investments in manufacturing and technology, we give our workers and companies the tools they need to compete, we use taxpayer money to buy American products and stimulate American innovation, let’s face the Chinese governmentabuse, insisting on fair trade and expanding the opportunity to all Americans, many of the products that are made abroad could be made here today, ”he said.
In addition, the stand on topics such as data protection and location, the tax on digital services, intellectual property Intellectual property rights (IPR) or import rights will be guided by US companies and will not change due to the changing of the guard at the White House.
“What will change is the tone, it will be more diplomatic instead of calling India a king of tariffs,” said Biswajit Dhar, a professor at Jawaharlal Nehru University. Trade experts warned that with the Trans-Pacific Partnership (TPP) agreement likely to return to the priority list, something Trump had abandoned, New Delhi could come under pressure to join the trade group, which seeks to establish an ambitious regime. for intellectual property rights, the digital economy and state-owned enterprises, among a number of areas.
In the past, New Delhi had avoided the TPP, while pursuing the Regional Comprehensive Economic Partnership agreement until it withdrew last year. Participating in the TPP will mean a review of the position on multiple issues, something that India has avoided over the years. “It is (TPP) the biggest threat as agreeing to a deal in these areas will undermine our position in the WTO,” said Abhijit Das, who heads the WTO Study Center at the Indian Institute of Foreign Trade.
But the big question for exporters is whether Biden will restore the generalized system of preferences (GSP) that Trump withdrew. While the government has tried to minimize the impact of preferential tariffs on India’s exports to the US, it is keen to see the profit restored along with market access for some of India’s agricultural products. . In return, it had even lowered price caps for high-end stents and implants, while offering to lower tariffs for various products, including high-profile Harley Davidson motorcycles. “It was the government of India that was approaching the United States and not Trump (for a deal). India will continue to do so and seek to woo Americans. But they do business on their terms, ”said JNU’s Dhar.
During lengthy negotiations with Indian officials, Robert Lighthizer, US trade A representative in the Trump regime, he continued to raise the bar for the benefit of American businesses, officials involved in the talks admitted. Even in the WTO, Biden is unlikely to take a different tack. After all, it was during Barack Obama’s tenure, with Biden as vice president, that the US began blocking key elements at the table and raising what were resolved issues.
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