In a resolute address on India's Independence Day, Prime Minister Narendra Modi emphasized the nation's unwavering commitment to safeguarding the interests of its farmers, fishermen, and livestock holders, despite escalating trade tensions with the United States. Modi's remarks came in response to President Donald Trump's recent imposition of a 50% tariff on most Indian exports to the U.S., a move that has significantly impacted sectors such as textiles, gems and jewelry, and the shrimp industry.
Addressing the nation from the Red Fort, Modi stated, "If any policy is against India's farmers, fishermen, cattle rearers, Modi is standing like a wall." He further highlighted the global economic challenges, noting, "Today, when economic selfishness is rising day by day in the global situation, it is the need of the hour that we don't sit crying over those crises. Himmat ke saath apni lakeer ko lambi karein…If we take that path, no selfishness will not able to entangle us."
Modi's strong stance underscores India's determination to protect its agricultural and allied sectors, even at the cost of potential economic repercussions. The U.S. tariffs, which have been described as "unfair, unjustified, and unreasonable" by Indian officials, are seen as a punitive measure in response to India's continued purchase of Russian oil.
In light of these developments, the Indian government has initiated extensive consultations with exporters, industry bodies, and relevant stakeholders to assess the impact of the new U.S. trade actions and to formulate an effective response strategy. The objective is to safeguard the interests of a broad spectrum of the Indian economy, including farmers, laborers, entrepreneurs, industrialists, exporters, and micro, small, and medium enterprises .
As the trade standoff continues, Prime Minister Modi has called for a renewed focus on self-reliance, urging citizens to support domestic industries and reduce dependence on foreign goods. This call aligns with the government's "Atmanirbhar Bharat" initiative, which aims to bolster India's manufacturing capabilities and economic resilience.
The situation remains dynamic, with ongoing efforts from both nations to navigate the complexities of international trade relations. India's steadfast commitment to its farmers and economic sovereignty continues to shape its response to the evolving trade landscape.
