Davos
\nIndia will not \u201cbow down\u201d and instead focus on capturing new markets, Commerce Minister Piyush Goyal said in his first public remarks since Washington imposed steep tariffs on Indian goods.
\nThe 50 per cent levies on many Indian imports into the United States took effect this week as punishment for New Delhi\u2019s massive purchases of Russian oil, part of US efforts to pressure Moscow into ending its war in Ukraine.
\nSince his return to the White House this year, US President Donald Trump has wielded tariffs as a wide-ranging policy tool, with the levies upending global trade.
\nSpeaking at a construction industry event in New Delhi on Friday, Goyal said India was \u201calways ready if anyone wants to have a free trade agreement with us\u201d.
\nBut, the trade minister added, India \u201cwill neither bow down nor ever appear weak\u201d. \u201cWe will continue to move together and capture new markets.\u201d
\nThe latest tariffs salvo from Trump has strained US-India ties, with New Delhi earlier criticising the levies as \u201cunfair, unjustified and unreasonable\u201d.
\nTrade talks between the two countries have stumbled over agriculture and dairy markets.
\nTrump wants greater US access, while Indian Prime Minister Narendra Modi is determined to shield India\u2019s farmers, a huge voter bloc.
\nThe US was India\u2019s top export destination in 2024, with shipments worth $87.3 billion.
\nBut analysts have cautioned that a 50pc duty is akin to a trade embargo and is likely to harm smaller firms.
\nExporters of textiles, seafood and jewelry have already reported cancelled US orders and losses to rivals such as Bangladesh and Vietnam, raising fears of heavy job cuts.
\nGoyal said the government would be coming out with several measures in the coming days to support every sector and boost exports.
\n\u201cI can say with confidence that India\u2019s exports this year will exceed 2024-25 numbers,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Davos India will not \u201cbow down\u201d and instead focus on capturing new markets, Commerce Minister Piyush Goyal said in his first public remarks since Washington imposed steep tariffs on Indian goods. The 50 per cent levies on many Indian imports into the United States took effect this week as punishment for New Delhi\u2019s massive purchases […]<\/p>\n","protected":false},"author":2,"featured_media":500157,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-500127","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-world"},"yoast_head":"\n