Modi states he is prepared to pay a 'significant cost' to safeguard farmers.
Narendra Modi stated he is prepared to pay a ‘significant cost’ to safeguard farmers, even if it comes at a significant personal cost, marking his first remarks following US President Donald Trump’s announcement of a 50% tariff on Indian products.
On Thursday, Trump declared an additional 25 percent tariff on the South Asian country, raising the total tariff on Indian exports to the US to 50%—one of the highest rates imposed on any trading partner of the US.
“The welfare of our farmers is of utmost importance to us,” Modi stated during the MS Swaminathan Centenary International Conference in New Delhi. “India will not compromise on the welfare of its farmers, the dairy industry, and fishermen. I recognize that I will personally incur significant costs for this,” he noted.
Negotiations between India and the United States collapsed after five rounds due to disagreements over the opening of India’s vast agricultural and dairy sectors and the halting of Russian oil imports.
Modi emphasized his commitment to supporting the farmers of the country and enduring the impact of America’s highest tariffs. “The interests of our farmers are our top priority,” Modi remarked. “India will not waver in its commitment to the interests of farmers, fishermen, and dairy farmers.”
He further noted, “I understand that I will have to personally pay a significant price for this, and I am prepared for it. India is prepared for it.”
Modi did not specifically mention the US tariffs or the trade negotiations.
Indian Prime Minister Narendra Modi stated on Thursday that he will not sacrifice the interests of the nation’s farmers, even if it comes at a significant personal cost, marking his first remarks following US President Donald Trump’s announcement of a 50% tariff on Indian products.
On Thursday, Trump declared an additional 25 percent tariff on the South Asian country, raising the total tariff on Indian exports to the US to 50%—one of the highest rates imposed on any trading partner of the US.
“The welfare of our farmers is of utmost importance to us,” Modi stated during the MS Swaminathan Centenary International Conference in New Delhi. “India will not compromise on the welfare of its farmers, the dairy industry, and fishermen. I recognize that I will personally incur significant costs for this,” he noted.
Negotiations between India and the United States collapsed after five rounds due to disagreements over the opening of India’s vast agricultural and dairy sectors and the halting of Russian oil imports.
Modi emphasized his commitment to supporting the farmers of the country and enduring the impact of America’s highest tariffs. “The interests of our farmers are our top priority,” Modi remarked. “India will not waver in its commitment to the interests of farmers, fishermen, and dairy farmers.”
He further noted, “I understand that I will have to personally pay a significant price for this, and I am prepared for it. India is prepared for it.”
Modi did not specifically mention the US tariffs or the trade negotiations.
In its earlier response, the Indian External Affairs Ministry described the US tariffs as “unfair, unjustified, and unreasonable,” pledging to “take all actions necessary to protect its national interests.” Furthermore, it criticized Washington for its double standards in targeting India for Russian oil imports while simultaneously purchasing Russian uranium hexafluoride, palladium, and fertilizer.
The tariff measures initiated by Trump have brought US-India relations to their lowest point in recent years. This situation has raised alarms among exporters and industry leaders on both sides. Analysts caution that these tariffs could adversely affect crucial Indian sectors such as textiles, pharmaceuticals, and processed foods, all of which are significant contributors to India’s export economy.
The new tariff, which is set to take effect on August 28, aims to penalize India for its acquisition of Russian oil, according to Trump. India’s foreign ministry has described this decision as “very regrettable,” emphasizing that “India will undertake all essential measures to safeguard its national interests.”
The US has yet to impose any comparable tariff on China, the largest purchaser of Russian oil. Experts suggest that China has been exempted thus far due to its leverage with the US concerning its reserves of rare earth minerals and other commodities, which India does not possess.
Dammu Ravi, secretary of economic relations in India’s foreign ministry, remarked to reporters, “The US tariff hike lacks logic. This is merely a temporary aberration, a temporary issue that the country will encounter, but over time, we are confident that solutions will emerge.”
In light of Trump’s tariffs, which have resulted in the most severe diplomatic conflict between the two nations in years, India has begun to take steps indicating that it may need to explore alternative partnerships in the upcoming months.
Indian Prime Minister Narendra Modi is gearing up for his first visit to China in over seven years, hinting at a possible realignment of alliances as relations with Washington deteriorate.
On Wednesday, Brazilian President Luiz Inacio Lula da Silva announced his intention to start a dialogue within the BRICS coalition of developing nations regarding strategies to address Trump’s tariffs.
He mentioned that he intends to reach out to Modi on Thursday, as well as to Xi Jinping of China and other leaders. The BRICS coalition also comprises Russia and South Africa.
Ravi stated that “countries with similar interests will seek collaboration and economic partnerships that will be advantageous for all parties involved.”
About The Author
