India's Strategic Response to US Tariffs

Union commerce and industry minister Piyush Goyal has confirmed that India is actively working towards a bilateral trade agreement with the United States. This initiative follows the agreement between Prime Minister Narendra Modi and President Donald Trump in February, amidst the imposition of Trump's 26% reciprocal tariff on Indian goods.

Focusing on India's Economic Growth

Goyal emphasized that India's interests remain paramount in the ongoing negotiations, which are seen as a pivotal step towards achieving Viksit Bharat 2047. Despite the challenges posed by the new tariffs, India is committed to securing a fair and comprehensive trade pact.

Global Trade Dynamics and India's Position

Union minister Hardeep Singh Puri expressed optimism about India's ability to navigate the current trade turbulence, highlighting the country's diversified oil sources and domestic energy production efforts as key strengths.

US-India Trade Relations Moving Forward

Recent discussions between US secretary of state Marco Rubio and external affairs minister S Jaishankar have reaffirmed the commitment to a balanced trade relationship. With Mission 500 aiming to double bilateral trade to $500 billion by 2030, both nations are poised for significant economic collaboration.