The market of the world and India is shivering. With the roar of Trump, the Indian government is silent. China has imposed a 34% tariff on all imports from the US. Because of this, the share market in the world has fallen further today. What will be the effect on India? What will the government do? It seems that the government has forgotten to speak.
The government is speaking lines in the business newspapers. There is nothing more than routine in the speech of the lines. After the announcement of the reciprocal tariff, it was said that Trump has forgiven India. Because the superconductor and the pharma sector are being looked at. In his order, the Trump administration separated the pharmaceuticals and the semiconductor from the parallel tariff policy. This was the reason that on 3rd April, the prices of the pharma companies’ shares in the Indian share markets skyrocketed.
However, now there is a report that the pharma sector has not yet been tariffed, but is about to be tariffed. Trump has said that he will impose such as a reciprocal tariff that has never been imposed before. Now Trump has said that it is the turn of the superconductor pharma sector. On Thursday evening, Trump told reporters that he is going to impose an unprecedented tariff on pharma. India’s pharma sector imports medicines worth 13 billion US dollars. If the reciprocal tariff is imposed and the unprecedented tariff is imposed, then a frozen market can end for them.
How much tariff will Trump impose on pharma? In his suspicions, there was a heavy fall in the prices of the pharma sector shares in India today. On 4th April, nifty pharma in India fell by about 4%. Sun Pharma fell by 3.5%. Cipla fell by 5.5%. Lupin India fell by 6%. These are all India’s pharma companies. On 4th April, Sensex fell by more than 900. The Indian market is also understanding that if a lot of good had happened for India, then all the ministers of India would have been doing press conferences on this topic day and night.
They would have been giving interviews on every channel. They would have been saying that the music of friendship between Modi and Trump is being played. Why did the Indian ministers not welcome Trump’s reciprocal tariff? Did they have any doubts about this? And that doubt was proven right that Trump is going to strike hard on India.
Trump tariffs: Why they matter
If India is hit by the tariff, then the rest of the countries will be punched. Times of India has put this headline on Trump’s tariff. When did you see such a headline in 10 years? Others have been punched. Will getting slapped by this not be a reward? If you remove those countries from this headline, who have been punched by Trump, then is it appropriate that Trump slapped India?
The Ministry of Foreign Affairs released a press release and confirmed that a study is being done. The statement of Foreign Minister Piyush Goyal did not come.
This also gives an idea that Trump did not say or do anything by which the minister would have called the media and started beating the leadership of PM Modi and would have said that due to the far-sightedness of India’s leadership, India was saved from Trump’s anger.
Congress spokeswoman Supriya Shrinath started studying the Twitter of the Foreign Minister and is telling that in the last 24 hours, the minister has tweeted on what important things. Supriya has tweeted 14 tweets related to PM Modi’s trip to Bangkok. This is called retweet.
In short, RT is written. After this, two tweets of MyGov have been retweeted. One tweet of Home Minister Amit Shah has been retweeted.
One tweet is on the time bill. And three tweets are on the startup event. But none of these tweets are on Trump’s reciprocal tariff.
India wants to know that Trump praised Prime Minister Modi. He praised him very much. That he is very strict in bargaining. So now the government should tell us that the tariff imposed by Trump.
What did Prime Minister Modi value in it? Or did Trump praise him falsely? And cut his pocket too. Jems and jewellery business will be badly affected by Trump’s tariff.
How Trump Tariffs Are Impacting India
India’s jewellery industry is already in trouble due to the restrictions of the European Union on Russia. The raw material coming from there has become difficult.
Do you know that in Surat, 20 to 25 lakh diamond workers are unemployed? Are you watching any report on our media channel from Surat? What are the conditions of the jewellery workers living there? The news is made to disappear.
But the public cannot disappear. They are suffering in their place. The Hindu business line of 4th April has written that the reciprocal tariff of 27% on Jems and jewellery will affect a lot. Its tariff has already decreased by 23%. There is no demand for it even in the domestic market. India has a tariff of 11 billion dollars.
In the case of Jems and jewellery, Trump has imposed a 10% tariff on Turkey and the United Arab Emirates. And 30% on India. If the Indian government does not solve it soon, then this sector is going to be severely affected.
Those who are working, their salary is not increasing. The demonstration of diamond workers has been going on since 30th March. The worker union says that the labour of diamond workers has not increased by 5 years. At least 30% should increase.
Since the ban on Russian diamonds has been imposed, the labour of diamond workers has decreased. The work has also become less. Earlier they used to earn 25 to 30 thousand a month. Now they is earning 15 to 18 thousand. Think about his condition.
What did these labourers get from the politics of religion? The diamond worker union says that the government should make a register of diamond workers. And should form the Ratna Kalakar Kalyan Board. The diamond worker union Gujarat has made a helpline so that the labourers can share their mental problems.
The members of this organization say that hundreds of labourers call on the helpline every day. In the 2024 Lok Sabha elections in Surat, the opposition candidate was made to sit.
There was an unopposed election. There was no opposition. And BJP’s Mukesh Dalal won the election. The condition of Surat is very bad.
The BJP’s own MP has said in the Lok Sabha that Surat has been spied on. Why is the media not reporting on what Mukesh Dalal said on 28th March during Shunay Kaal? BJP MPs from Surat are saying that 20-25 lakh diamond workers are unemployed in Gujarat. Can you imagine?
Did the Minister of Trade go to Surat? Did he talk to the diamond workers union or the workers? Why is there a demonstration every day? They don’t have work.
Their condition is very bad. The situation is getting worse. The market is indicating that the situation is very bad. But the government is quiet. It feels that the country is not capable of understanding anything other than the Hindu-Muslim debate.
The issue of job and salary has become useless for the country. The opposition was busy in the parliament for a long time. But on April 4, Congress MPs demonstrated in the parliament. They tried to attract attention to Trump’s reciprocal tariff.
Congress MPs Gaurav Dogoi, Manish Tiwari and Manikram Tagore presented their proposals in the Lok Sabha. They asked for a discussion on the tariff issue. Will the government have a discussion on this issue?
Trump tariffs and the US economy
Trump’s decision has caused a downpour in the US market. On April 3, Apple’s share fell by 8%. On April 4, Apple’s share fell by 10%. Indio Chakraborty has given an account of Apple. He writes that Apple’s products are manufactured in Chinese factories. Trump imposed a tariff of 30% on goods imported from China. Because of this, Apple’s phones, airpods and iMacs have lost 83% of their production costs. Earlier, the cost of production was 64%. After the recirprocal tariff, it will be 84%. So Apple’s profit will be less than 20%. In this case, this business will be meaningless for them.
In addition to Apple, shares of companies such as Nvidia, Amazon, Meta, Microsoft have fallen. There is a ruckus in the US market. Trump’s theory is that these are the profits of the new investors who have joined the companies. The people had nothing. The people who have lost their share in the share market are the same people with whom Trump is fighting. If they are losing, Trump does not care about them. What is the basis of this? It is difficult for us to tell. But we will have to tell how the supporters of Trump are thinking. Trump is saying that for many years, America’s friends and enemies have been looted together. Now they will not let this happen.
Trump has brought a storm in the world economy. He feels that even after the fall of the market, the American people will believe that they are going to make America great again by imposing recirprocal tariffs. There are some companies in the world markets that show dreams and scare. They say that there is going to be a terrible storm. JPMorgan’s chief economist has said that the probability of a storm in the world has increased by 60%. Earlier it was 40%.
Another institution is Goldman Sachs. It is said that the probability of a storm in the world has increased by 35% from 20%. According to one institution, the probability of a storm in the world has increased by 35%. According to another institution, the probability of a storm in the world has increased by 60%. But there is no discussion of this in India at the level of the government. The government is silent.
Raghav Chadda also raised the issue of tariffs in the Rajya Sabha. That day when the discussion was being held on time. Doesn’t this surprise you that no one is speaking openly on such a big issue from the government.
The Hindu Business Line has written that the recirprocal tariff of Trump can have an impact on the sectors like cloth, chemical, agriculture, gemstone and jewellery, machinery, electronics and electricals. Most of this sector is worried about their future.
Many people are saying that the opportunity for India will also open with the recirprocal tariff of Trump. But why is the Indian government not talking then? Ministers from all over the world are talking. What is being done quietly in this? Or is nothing happening? The Prime Minister is in Bangkok to participate in the BIMSTEC program.
Foreign Minister S Jaishankar is talking about the self-help era. What era is this? Self-help era. Is the era of globalization gone? Why is the self-help era coming? Don’t even take the name. Jaishankar has said that the truth is that the world is entering the era of self-help. Every sector will have to look at its own, whether it is agricultural products or fuel, fertilizer, supply, vaccination or emergency response. We are seeing this happening in front of our eyes.
The time has changed. The importance of small and small supply chains and neighbors has already increased. India’s self-help will be affected due to the tariff of Trump. But if you consider Prime Minister Modi’s foreign trips as India’s self-help, it has not affected at all. Even in February, Prime Minister Modi went to France, America. In March, he went to Mauritius. In April, he is on a tour of Sri Lanka and Bangkok. Prime Minister Modi is a sport in himself. Self-help. He is traveling the world like a comet. His journey is free of tariffs. He is free from the worries of recirprocal tariffs.
But his country is calling out to him. Come and talk about tariffs. Not too much.
Speak less. But say something.
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