The Indian government has “taken note” of the US President Donald Trump’s remarks and is “studying” the implications of the 25% tariffs, as well as additional penalties linked to purchases of Russian military equipment and energy.
Over the past few months, India and the United States have been engaged in negotiations to conclude a “fair, balanced and mutually beneficial” bilateral trade agreement, the Ministry of Commerce and Industry said in a statement on Wednesday.
Despite at least five rounds of in-person discussions and regular sectoral engagements, the two sides have yet to finalise an interim or “mini” trade deal.
“The Government remains committed to that objective,” the ministry said. “We attach the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs.”
“The Government will take all steps necessary to secure our national interest, as has been the case with other trade agreements, including the latest Comprehensive Economic and Trade Agreement with the UK,” it added.