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India's trade differences with the US reasonable, says M&M

Updated : June 14, 2019 09:33 AM IST

India's tariff differences with the United States are reasonable given that it is not an advanced country like America, said Pawan Goenka, managing director of Mahindra and Mahindra (M&M).

“I get a very positive feel for the future of India-America trade and commerce and also get very concerned about the current environment. So few of the policies that have been talked about by government of India have probably not gone down well with the American government and American businesses and there is a lot of perception about Indian trade barriers, tariff and non-tariff that I believe is overstated. India is clearly not advanced economically to the level that the US is and therefore to have some tariff difference is but reasonable,” said Goenka in an interview with CNBC-TV18's Shereen Bhan.

Goenka added that the dissatisfaction or frustration in the US businesses is growing.  "India perhaps needs to do a little bit more work in telling its story to the US businesses. I am sure it has done on a one-on-one basis but the general perception has to change," Goenka said.

Talking about the US business, he said, “Last week we completed 25 years of being here in the US. US is a very important market for us and also a very difficult market because to be able to sell a consumer product requires a lot including building the brand. I guess over the last 25 years we have reasonably, in the circles that need to know, established Mahindra brand."
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