In his first public remarks since Washington imposed steep tariffs on Indian goods, India’s Trade Minister Piyush Goyal stated that India will not “bow down” and will instead focus on capturing new markets. These comments came as a 50% tariff on many Indian imports into the United States took effect this week. This move was a punishment for New Delhi’s extensive purchases of Russian oil, part of a US effort to pressure Moscow to end its war in Ukraine.
Since his return to the White House this year, US President Donald Trump has used tariffs as a broad policy tool, disrupting global trade. Speaking at a construction industry event in New Delhi on Friday, Goyal said that India is “always ready if anyone wants to have a free trade agreement with us.”
However, he added that India “will neither bow down nor ever appear weak.” He stated, “We will continue to move together and capture new markets.”
Trump’s latest tariff offensive has strained US-India relations, with New Delhi previously criticizing the levies as “unfair, unjustified and unreasonable.” Trade negotiations between the two countries have also stumbled over access to agriculture and dairy markets. Trump is seeking greater US access, while Indian Prime Minister Narendra Modi is determined to protect India’s farmers, a significant voting bloc.
In 2024, the United States was India’s top export destination, with shipments valued at $87.3 billion. However, analysts have warned that a 50% duty is similar to a trade embargo and is likely to harm smaller businesses. Exporters of textiles, seafood, and jewelry have already reported canceled US orders and losses to rivals such as Bangladesh and Vietnam, raising concerns about significant job cuts.
Goyal said the government would introduce several measures in the coming days to support every sector and boost exports. “I can say with confidence that India’s exports this year will exceed 2024-25 numbers,” he said.
