In a resolute address, Indian Prime Minister Narendra Modi emphasized India's unwavering commitment to safeguarding the interests of its farmers, fishermen, and dairy farmers, despite escalating trade tensions with the United States. Modi's remarks came in response to U.S. President Donald Trump's recent imposition of a 50% tariff on Indian goods, a move that has intensified bilateral trade disputes.
Addressing the MS Swaminathan Centenary International Conference in New Delhi, Modi stated, "For us, the interest of our farmers is our top priority. India will never compromise on the interests of farmers, fishermen, and dairy farmers. I know personally, I will have to pay a heavy price for it, but I am ready for it." This statement underscores India's determination to prioritize domestic agricultural interests over external pressures.
The U.S. tariffs, which have been implemented in two phases, are a response to India's continued importation of Russian oil, a practice that has drawn criticism from the U.S. administration. The initial 25% tariff was announced in July, with an additional 25% imposed in August, bringing the total to 50%. These tariffs are expected to significantly impact key Indian export sectors, including textiles, footwear, gems, and jewelry.
In light of these developments, Prime Minister Modi has called for increased self-reliance within India. He urged citizens to support domestic industries by purchasing Indian-made products, emphasizing the importance of economic resilience in the face of external challenges. This call aligns with the government's "Atmanirbhar Bharat" initiative, which aims to bolster domestic manufacturing and reduce dependency on foreign imports.
The escalating trade tensions have also prompted diplomatic engagements between the two nations. U.S. Ambassador to India, Sergio Gor, met with Prime Minister Modi to discuss bilateral issues, including trade, defense, and technology. Despite the tariffs, both leaders have expressed a desire to continue dialogue and work towards resolving trade disputes amicably.
As the situation develops, India's steadfast stance on protecting its agricultural sector highlights the nation's commitment to its farmers and the broader economy, even in the face of significant international pressure.
