India has firmly stated that it will not “bow down” in the face of recent US tariffs, with Trade Minister Piyush Goyal reiterating that the country will focus on tapping into new global markets.
Goyal’s comments come in response to the imposition of a 50% tariff on several Indian goods entering the United States.
The tariffs, which came into effect this week, are part of Washington’s efforts to penalize India for its significant oil purchases from Russia, a move aimed at pressuring Moscow to end its ongoing conflict in Ukraine.
Since returning to the White House, US President Donald Trump has aggressively used tariffs as a key element of his foreign policy, with global trade being significantly affected by these actions.
During an address at a construction industry event in New Delhi on Friday, Goyal emphasized India’s resolve, stating that the country would continue to pursue new markets and strengthen its international position.
“India will never bow down,” Goyal declared. “We are always ready for free trade agreements, but we will not show weakness. We will remain firm in our position and move forward, capturing new markets globally.”
This latest round of tariffs has caused considerable strain in US-India relations, with New Delhi labeling the levies as “unfair, unjustified, and unreasonable.”
The two countries have been unable to make significant progress in trade negotiations, especially regarding agricultural and dairy market access.
India’s exports to the US reached a staggering $87.3 billion in 2024, making the US India’s largest trading partner.
However, analysts warn that the 50% tariff could essentially act like a trade embargo, especially affecting smaller Indian businesses.
Exporters in sectors such as textiles, seafood, and jewelry have already faced canceled orders and lost business to competing nations like Bangladesh and Vietnam, which are expected to see a rise in orders as a result.
Despite these challenges, Goyal assured the public that the Indian government would implement several measures aimed at supporting impacted industries and boosting export growth.
“I am confident that India’s exports will surpass the 2024-25 figures this year, despite these challenges,” Goyal said.
