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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If "free enterprise" means letting corporate globalists gut the American middle class to further fatten their wallets, then I say the Hell with it.
Don’t have to convince me. I lived there for 20 years until 2014.
Can’t wait to move back.
I have been for America first agenda from the day I pledged my alliance to the flag and was made a US citizen in 1970.
And since I made my living in manufacturing industry, I have been pro-tariffs for many decades after witnessing first hand the unscrupulous actions of foreign competitors.
When I speak of free enterprise, I am referring to free competition among American businesses, without the government putting their thumb on the scale.
If "free enterprise" means letting corporate globalists gut the American middle class to further fatten their wallets, then I say the Hell with it.
When I speak of free enterprise, I am referring to free competition among American businesses, without the government putting their thumb on the scale.
I'm 1000% in favor of that kind of free enterprise. But why does your tagline (quoted above) speak only of wage protection? Sure the government can and does violate free enterprise in a myriad of ways other than wage protection.
Good point and I will edit my tag line a bit.
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