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A top Indian official has vowed that India will not yield to US tariff pressure and will instead pursue new markets to protect its economy.
Getting into it: Speaking at a construction industry event in New Delhi, Commerce and Industry Minister Piyush Goyal said, “We will neither bow down nor ever appear weak” following newly imposed 50% tariffs by the United States on a wide range of Indian goods. Goyal added India is ready to “sign a beneficial free-trade agreement” with any country. He added, “we are always ready for it. But in case of any kind of discrimination, in view of the self-respect of 140 crore Indians, we will neither bow down nor become weak. We will keep progressing together and capture new markets.”
Goyal announced that the government will soon roll out a series of targeted measures to support sectors hit hardest by the tariffs, such as textiles, seafood, and jewelry. “We are reaching out to other parts of the world to look at other opportunities which we can capture,” he said, while also highlighting new commitments from industries like steel to boost exports. He added, “I can say with confidence that India’s exports this year will exceed 2024-25 numbers.” He also said the government is preparing domestic stimulus measures, including possible GST revisions, to mitigate the economic impact and boost internal demand.
The minister’s comments came just days after the US Court of Appeals for the Federal Circuit ruled that President Donald Trump had largely overstepped his authority when imposing universal tariffs on all US trading partners. Trump had used the International Emergency Economic Powers Act to justify the move, arguing that large trade deficits posed a national emergency. While the court rejected this rationale, it allowed the tariffs to remain in place until at least October 14, pending a likely Supreme Court appeal.
In a statement, Trump blamed the court for being “highly partisan.” He added, “For many years, Tariffs were allowed to be used against us by our uncaring and unwise Politicians. Now, with the help of the United States Supreme Court, we will use them to the benefit of our Nation, and Make America Rich, Strong, and Powerful Again! Thank you for your attention to this matter.”
