India will not “bow” and, on the other hand, will focus on capturing new markets, said Commerce Minister Piyush Goyal, in his first public comments since Washington imposed pronounced tariffs on Indian goods.
The 50 percent levies on many Indian imports in the United States entered into force this week as punishment for mass purchases of Russian oil in New Delhi, part of the United States efforts to press Moscow to end their war in Ukraine.
Since his return to the White House this year, the president of the United States, Donald Trump, has exercised tariffs as a broad -reach policy tool, with the encumbrances that alter global trade.
Speaking at an event of the construction industry in New Delhi on Friday, Goyal said that India “was always ready if someone wants to have a free trade agreement with us.”
But, added the Minister of Commerce, India “will not be inclined or seem weak.” “We will continue moving together and capturing new markets.”
The latest Trump -Salvo rates have tensioned ties between the United States and India, with New Delhi previously criticizing taxes as “unfair, unjustified and unreasonable.”
Commercial conversations between the two countries have encountered agriculture and dairy markets.
Trump wants greater American access, while the Indian prime minister, Narendra Modi, is determined to protect the farmers of India, a large block of voters.
The United States was the main export destination of India in 2024, with shipments worth $ 87.3 billion.
But analysts have warned that a 50 percent duty is similar to a commercial embargo and is likely to damage smaller companies.
Exporters of textiles, shellfish and jewels have already reported that they canceled orders and losses of USA. UU. To rivals like Bangladesh and Vietnam, which increases the fears of the large job cuts.
Goyal said the government would go out with several measures in the coming days to support all sectors and increase exports.
“I can say with confidence that India exports will overcome the numbers 2024-25,” he said.
