SJM Calls for New Indian Trade Strategy Amid US Tariffs

The Swadeshi Jagran Manch (SJM) urges India to rework its trade strategy in response to US-imposed tariffs, criticizing WTO agreements like TRIPS and TRIMS for harming India's economy and public health. Emphasizing bilateral agreements over multilateral ones, SJM sees potential in new market opportunities.

The Swadeshi Jagran Manch (SJM) has called for India to overhaul its international trade strategy following new US tariffs. SJM argues that agreements within the World Trade Organization (WTO), such as TRIPS and TRIMS, have resulted in significant financial losses for India and have impacted public health negatively.

Uniquely, India's royalty expenses have surged from under a billion dollars in the 1990s to over $17 billion annually, according to SJM. They highlight the constraints TRIMS imposes on investment measures and criticize the US's recent 26 percent import duty on Indian goods, which they claim breaches WTO rules.

SJM's Ashwani Mahajan contends that developed nations, like the US, are disregarding WTO protocols, advocating for bilateral trade agreements as more favorable for India. He suggests an international trade strategy that capitalizes on shifting economic dynamics post-US tariffs, especially in emerging markets and sectors like defense.

(With inputs from agencies.)