US President Donald Trump has alleged that the trade relationship between India and the US is very one-sided. India benefits a lot and America gets almost nothing. In this regard, the Global Trade Research Initiative (GTRI) report claims that America earns huge profits from India.
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US President Donald Trump has imposed a 50 percent tariff on India. He alleged that the trade relationship between India and the US is very one-sided, India benefits a lot, while America gets almost nothing.
Recently, a different story has come to light in the Global Trade Research Initiative (GTRI) report. The GTRI report not only refutes Trump’s claims and allegations, but also says that America earns more than Rs 3.5 lakh crore from India.
Now the question is what Trump has claimed and how America earns from India, a detailed data is presented here.
The GTRI report claims that India has a trade deficit of Rs 4 lakh crore with America. If the entire income is added together, then both the equation and the report will change. If the actual numbers are seen, then it will be found that America earns more than Rs 3.5 lakh crore from India every year. This means that America earns more than India and also gets huge benefits.
How much does America earn from India?
American technology companies like Meta, Apple, Amazon and Microsoft earn Rs 1.3 to 1.8 lakh crore every year from the Indian digital market.
Hundreds of American companies like Coca-Cola, McDonald’s, Burger King, Pizza Hut and Subway do business in India and earn up to Rs 130,000 crore annually.
Wall Street banks and large consultancy firms collect between Rs 68,000 crore and Rs 130,000 crore in fees from India every year. This money goes to the US alone. Many large American corporations like Walmart, DBS and IBM earn up to Rs 180,000 crore from their global powerhouses.
The US also receives billions of dollars in revenue from India through Hollywood films, medicine patents, online subscriptions and defence contracts.
Indian students studying in the US contribute Rs 220,000 crore to the economy every year in the form of tuition fees and other expenses.
How much tax is levied on American companies in India?
US President Donald Trump has been accusing India of imposing high tariffs on American goods. The GTRI report claims that Trump’s accusations that American companies in India are imposing high tariffs are also not true.
The Indian government has also proposed to exempt some selected American agricultural products such as industrial goods, nuts and soybeans from duty.
The fact is that these products account for more than 95 percent of the total US exports, due to which the US, except for luxury goods, gets duty-free access to the Indian market or has to pay very low duties. In such a situation, the data obtained is completely different from Trump’s claim of unilateral relations.
