Days after US President Donald Trump announced that a tariff of 25%, plus an unspecified penalty because of energy imports from Russia, would be imposed on Indian exports, Prime Minister Narendra Modi has said the world economy is going through a period of uncertainty and made a push for ‘swadeshi’ (made in India) products
Addressing a rally in his constituency Varanasi on Saturday, PM Modi said India has to focus on its economic priorities and every citizen should resolve to buy ‘swadeshi’.
Days after US President Donald Trump announced that a tariff of 25%, plus an unspecified penalty because of energy imports from Russia, would be imposed on Indian exports, Prime Minister Narendra Modi has said the world economy is going through a period of uncertainty and made a push for ‘swadeshi’ (made in India) products
Addressing a rally in his constituency Varanasi on Saturday, PM Modi said India has to focus on its economic priorities and every citizen should resolve to buy ‘swadeshi’.
The 25% tariff was announced by Donald Trump on Wednesday – following it up with a jibe that India and Russia are “dead economies” – and the government has said it is studying the implications of the move and will take all necessary steps to safeguard India’s national interest.
Speaking in Parliament on Thursday, Commerce Minister Piyush Goyal had also said negotiations for a bilateral trade agreement are on.
“The implications of the recent developments are being examined by the government. The Ministry of Commerce and Industry is engaged with all stakeholders, including exporters and industry, for taking feedback on their assessment of the situation. The government attaches the utmost importance to protecting and promoting the welfare of our farmers, workers, entrepreneurs, exporters, MSMEs and all sections of industry. We will take all necessary steps to secure and advance our national interest,” the minister said.
Article source: ndtv.com
