Skip to comments.India raises import taxes in move set to spook some foreign firms
Posted on 02/01/2020 1:36:43 PM PST by entropy12
NEW DELHI/BENGALURU (Reuters) - India on Saturday raised taxes on imports of goods such as electronic items, toys and furniture, aiming to give impetus to domestic manufacturing in a move that will hit Sweden's IKEA and other foreign firms. The measures, announced by Finance Minister Nirmala Sitharaman in her 2020-21 budget, come amid criticism from some companies that India has increasingly resorted to protectionist rules that discriminate against foreign companies. Listing the new taxes, the government said they were in line with Prime Minister Narendra Modi's "Make in India" programme aimed at promoting domestic industry. Taxes on imports of items including kitchenware, fans and small electrical appliances will be doubled to 20%, while the levy on furniture including seats, lamps and mattresses will be raised to 25% from 20%. IKEA's India CEO Peter Betzel said the company was disappointed with the increase. "We are further evaluating the impact of the hike on our total business," he said. IKEA, which has committed more than 1.5 billion euros ($1.7 billion) in India investments, imports roughly 75% of goods sold in the country. Sitharaman defended the decision, saying the rationale was that if certain goods were being manufactured locally at "equal quality, if not better, (then) we had no reason to import."
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We should move to ban imports of Indians.
I like Indians however I think the majority are here under H1B and that hurts ALL Americans.
What about stopping all of the SBA loans they give to Indians over here to start up businesses that they don’t make as easy to get for native Americans? Hmmmmm....???
Many american companies learned the hard way that indian programmers were not the great bargain they were led to believe. They had to pay americans to fix all the stuff they got wrong the first time, took a lot longer and more money than if they would have just had american programmers and sw engineers doing it from the beginning.
How will the Swedes support their Muslim immigrants?
India considers Modi to be their version of President Trump.
1000% tariff on all Indian placement firms working in the US or India on every lowlife scumbag H1B or H4EAD that is recruited to take an American job away.
I worked for Oracle for 17 years.
When I started with my last team we had 15 people. All were Americans.
When I got laid-off 5 years later, we still had 15 people. However, only two of us were Americans. The rest were Chinese, all except one who lived in China.
A friend of mine, an Indian, swore he would NEVER move back to India as it was such a hellhole.
I had a wonderful childhood growing up in India, but that was because my father was a big shot in one of the major kingdoms. When the kingdoms were dissolved and taken over by the newly formed country of India, the wonderful life came to an abrupt end. My family no longer had 3 full time servants, free access to kingdom’s cars and phone service. But it was great while it lasted and when the British guests came to visit, they would have be awed by the wealth of the maharaja, with plates made of silver and spoons forks made of 14 carat gold.
In 59 years since I left India I have visited only twice since I hate crowded conditions. Population has nearly tripled in 60 years. My favorite places to visit now is Singapore and the island of Bali.
Blame our world order, diversity loving, in pockets of corporations, politicians who made it possible H1B visas, etc.
It is asinine to blame the beggar for taking too much money from you, because he took everything you gave him. The Indians working on H1-B visa did not write the laws. It was our own politicians.
Well, do like your European buddies in a score of industries.
manufacture in country
Glad your family decided to settle here :)
Thank you for the great story on your background!
Very interesting sir !
Blame Indians in the IT and engineering fields. Once an Indian gets in to a position of hiring, Indian racism, castism, nepotism and cronyism takes over. Its nearly impossible for an American, regardless of qualifications, to even get an initial screening interview. And our very own EEOC approves of this.
Blame the Demonrats, the RINOs and the Free Traitors in Congress for being bought out by the Indian Tech Lobby. If Mumbai Mike and Cameltoe Harris have their way, it will be the end of white-collar work for the American Middle Class.
“The H-1B visa has its roots in the H1 visa of the Immigration and Nationality Act of 1952; the split between H-1A (for nurses) and H-1B was created by the Immigration Act of 1990. 65,000 H-1B visas were made available each fiscal year, out of which employers could apply through Labor Condition Applications. Additional modifications to H1-B rules were made by legislation in 1998, 2000, in 2003”
So my question is why presidents Reagan, and both Bushes, all genuine Republicans did do nothing about H1-B visa’s? The law was alive and well during their administrations. So it is a lie to blame it all on democrats.
Let’s face the truth, even if the truth is bitter. The Chamber of Commerce type republicans like the imported cheap labor. I would agree completely that the democrats are even worse than the globalist republicans.
The reason the establishment republicans hate Trump is because he is not a globalist. He is the opposite, with America first agenda. But Trump alone can not change everything in a short time. DC is a huge bureaucracy and deep state.
“A person in H-1B status must continue to be employed by their employer in order to stay in H-1B status. If the person’s employment ends for any reason, the person must leave the United States, unless the person applies for and is granted a change of status or finds another employer compatible with the H-1B status. Effective January 17, 2017, the United States Citizenship and Immigration Services allows grace period of up to 60 days to stay in the United States after the person’s end of employment”
Thank you! I consider myself genuinely lucky to have made my life here in the USA! Arrived in 1960, and still here after 59 years. The mechanical engineering jobs I lucked into were fantastically interesting work. And really enjoyed playing 5000 rounds of golf at private golf clubs...it does not get any better!
LOL! I see you're in FL. I hope to move back soon. Love that state.
Move to Florida if you hate cold weather (I loved cold and snow in Chicago until reaching age 50, then not so much)
Move to Florida if you like no state income tax, low property taxes with $50,000 senior exemption on assessed value, and 6% sales tax and a well run state by Republican governor.
Move to Florida if you like to go on last minute deal cruises!
No need to book flights or hotels, we have 2 cruise ports within 90 minutes of drive.
it is a lie to blame it all on democrats.
The lie is your implying Starcitizen did so.
The reason the establishment republicans hate Trump is because he is not a globalist. He is the opposite, with America first agenda. But Trump alone can not change everything in a short time.
Glad to see you're on board with the America first agenda.
Sad to say, many more American companies refuse to learn from the mistakes of others, but are intent on repeating them.
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