‘Modi govt’s poor policies push Indian economy into deep crisis’
New Delhi: The poor policies and frivolous actions of the Modi government have pushed the Indian economy into a deep crisis and India’s important industries have been paralyzed due to stubbornness and US tariffs.
According to Kashmir Media Service, “Al Jazeera” in a report has said that the 50 percent tariff imposed by the US has badly affected India’s carpet industry. In particular, the business of carpet exporters from Bhadohi has come to a standstill and no cargo has been sent to the US in the last one month.
People associated with the carpet business in India are in deep distress due to the worst conditions. Many industrialists say this is the most difficult time in their 50-year career.
According to them, if the situation does not improve, the industry will completely collapse because the Indian carpet industry is completely dependent on the US and the domestic market is non-existent.
The industrialists complained that there was hope of resolving the issue through negotiations but no results were forthcoming. They say the tough US tariffs have almost shut down their businesses. Many factory owners have reduced the working hours of their employees and if the situation continues like this, thousands of people will have to lose their jobs.
Indian industrialists also expressed fear that Turkey and Pakistan are replacing Indian carpets in the US market due to low taxes. This situation has exposed all the claims of the Modi government about self-reliance.
Experts say India’s increasing isolation in the global market is actually the result of the Modi government’s failed economic policies.
