Minister of Commerce and Industry Piyush Goyal asserted that India will not “bow down” but instead focus on expanding into new markets. In his first public remarks since Washington imposed steep tariffs on Indian goods, Goyal emphasised that India is open to entering into free trade agreements with any nation willing to engage.
The United States this week imposed 50% tariffs on a wide range of Indian imports, citing New Delhi’s extensive purchases of Russian oil as the reason. The move is part of Washington’s broader effort to pressure Moscow into ending its war in Ukraine.
Speaking at a construction sector event in New Delhi on Friday, the trade minister said that India is “always open and willing to engage with any country interested in a free trade agreement.” Although he asserted that India will never compromise its strength or appear vulnerable. We will continue to move forward together and unlock new markets.
The latest US tariffs have fuelled global uncertainty and strained US-India relations, with the Ministry of External Affairs earlier denouncing the levies as ‘unfair, unjustified, and unreasonable’. Trade talks between the two major economies have hit a roadblock over agriculture and dairy, with Trump pressing for greater U.S. access while Prime Minister Modi remains firm on protecting India’s farmers.
