Will not bow down to US tariff hike: Piyush Goyal
India's Commerce Minister Piyush Goyal says the country "will neither bow down nor ever appear weak" after the US doubled tariffs on Indian goods to 50%, hitting key sectors like textiles, chemicals, and machinery.
He emphasized that such moves affect the self-confidence of India's 1.4 billion citizens.
Trade talks with India on pause after US tariff hike
The US tariff hike has led to a pause in trade talks with India, even after six rounds of negotiations this year.
Goyal says the government is backing affected exporters and encouraging industries to find new markets—like boosting steel exports and expediting export promotion efforts for textiles.
India is looking beyond the US
India is looking beyond the US, finalizing a trade deal with Oman and working on agreements with Qatar and the EU.
Goyal also hinted at reforms in GST to help drive up demand at home, aiming to keep Indian businesses competitive despite global challenges.