Prime Minister Narendra Modi on Thursday asserted that India would never compromise on the welfare of its farmers, fishermen, or dairy sector, even if it comes at a significant economic cost.
Addressing delegates at the MS Swaminathan Centenary International Conference in New Delhi, PM Modi said, “For us, the interest of farmers remains our top priority.”
His remarks came shortly after US President Donald Trump announced a 50 per cent tariff on Indian goods.
The first phase involves a 25 per cent import duty, effective from 7 August, followed by another 25 per cent hike from 27 August, citing India’s ongoing trade and defence partnerships with Russia.
Ready to Bear the Cost
In a strong statement of resolve, PM Modi declared, “I know we will have to pay a heavy price for it, and I am ready for it. India is ready for it.”
He underscored that the livelihoods of millions of Indian farmers and fishermen cannot be undermined, and that national interest would always take precedence in trade negotiations.
The Prime Minister’s comments reflect India’s broader stance of economic self-reliance and resistance to external pressure, particularly in sectors critical to rural livelihoods and food security.
India’s Ministry of External Affairs (MEA) responded sharply to Trump’s tariff order, calling it ‘unfair, unjustified, and unreasonable’.
In an official statement, the MEA emphasised that India would take ‘all necessary actions to protect its national interests’.
India clarified that it imports crude oil and military hardware from Russia based on market considerations, emphasising that these imports are essential to ensure the energy security of its 1.4 billion citizens.
“It is, therefore, extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest,” the MEA added.
Statement by Official Spokesperson⬇️
🔗 https://t.co/BNwLm9YmJc pic.twitter.com/DsvRvhd61D— Randhir Jaiswal (@MEAIndia) August 6, 2025
Tariffs Timeline and Implications
The US will impose the proposed tariffs on all qualifying Indian goods beginning 21 days after signing the order.
However, shipments already in transit before the deadline and cleared by 17 September will be exempt.
The development marks a new chapter in India-US trade relations, with potential implications for sectors such as textiles, steel, and agriculture.
As both countries prepare for possible negotiations, India’s firm stand on protecting its domestic interests signals a continued push for fair and balanced trade practices.
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