Union Commerce Minister Piyush Goyal made a statement in the Lok Sabha after the announcement of 25 per cent tariff on Indian exports by US President Donald Trump. He said that the impact of this move of America is being assessed. He said that we will take all necessary steps to protect national interests. He said that India is on the way to become the third largest economy in the world.
‘Meetings held on trade deal between India-US’
Union Minister Piyush Goyal said in Parliament, “There were several important meetings to finalize the agreement between India-US. Was gone. “
‘All steps will be taken to protect India’s interests’
The Union Minister told Parliament, “The conversation between India and the US started in March. Our aim was to finalize the first phase of this deal by October-November 2025. The first meeting for this was held in Delhi and the rest of the meetings were held at Washington DC. There were many virtual meetings between the two countries.”
He said, “We will protect our domestic industries. India’s contribution to the development of the world is 16 percent. We will take all necessary steps to secure and further our national interests. Our government is working for farmers. We are confident that we will become developed countries by 2047.”
Trump imposed 25 percent tariff on India
Trump announced 25 percent tariff on India from August 1. He also announced a fine on India to buy crude oil and military equipment from Russia. This announcement is being seen as a strategy to pressurize India to accept America’s demands. The US has recently made a desired trade deal with prominent partners like Japan, Britain and European Union (EU).