India-US Trade Deal: Big action by Trump government, White House released fact sheet, tax cut and big relief for India on Russian oil?

News India Live, Digital Desk: As soon as President Donald Trump took charge in America, trade equations with India have started changing rapidly. The White House has released a new ‘fact sheet’, in which there are indications of removing trade barriers with India and being soft on the tax front. This report has come at a time when the sound of ‘tariff war’ is being heard all over the world, but good news is coming out from here for India. Consensus reached on Digital Service Tax (DST)! According to the White House report, the old dispute going on between America and India regarding ‘Digital Service Tax’ seems to be resolved. A middle path has been found between the Trump administration and the Indian government regarding taxes on American tech companies (such as Google, Facebook and Amazon). This will make it easier for American companies to work in India, while India’s IT sector is also expected to get a big benefit from it. Russian Oil: Has Trump given a ‘clean chit’ to India? The most shocking aspect in this fact sheet is the import of Russian oil. Despite the Ukraine war, America’s stance on India purchasing crude oil from Russia now seems to be softening. The Trump administration believes that India’s role is important in maintaining stability in the global energy market. The report indicates that the US will now focus more on increasing bilateral trade rather than imposing stringent sanctions on India over Russian oil.[Image: PM Modi and Donald Trump shaking hands at White House]Tariff reduction: Will doors open for Indian products? The White House has clarified that the Trump administration wants ‘reciprocal trade’ with India. If India reduces import duty on some American products, then America is also ready to reduce its market barriers for Indian steel, aluminum and agricultural products. Why is this a ‘big win’ for India? Boom in exports: Due to reduced taxes and tariffs, exports of Indian garments, pharma and engineering goods to America will increase. Dependence on China reduced: America is now seeing India as a reliable ‘supply chain partner’ as an alternative to China. Strategic strength: The effect of the chemistry of PM Modi and Trump is now visible on paper (at the policy level).