Following Washington's 50 per cent tariffs on Indian goods coming into effect earlier on Wednesday, US National Economic Council Director Kevin Hassett noted India's "intransigence" to open its markets to American products while describing the current India-US relationship as a "complicat
Rajasthan Minister Jogaram Patel expressed strong confidence in India's economic resilience in the wake of the 50% tariffs imposed by the United States on Indian exports, effective today.
Following Washington's 50 per cent tariffs on Indian goods coming into effect earlier on Wednesday, US Treasury Secretary Scott Bessent expressed optimism about resolving trade tensions with India, stating, "at the end of the day, we (India and the US) will come together."
The 50 per cent tariffs on Indian goods imposed by the Donald Trump administration came into force on Wednesday, following a notice by the US Customs and Border Protection (CBP). The move poses serious challenges for India's US-oriented exporters.
Minister of State for External Affairs Kirti Vardhan Singh denounced the United States' decision to impose a 50 per cent tariff on Indian imports on Wednesday, calling it "unjustified, unreasonable, and unfair."
Front-loading by major Asian economies ahead of the US reciprocal tariffs has significantly altered global export patterns, according to a Nomura report.
Jhalani informed that Rajasthan's handicraft market is worth Rs 9000 crores and being a labour-intensive sector, it provides direct and indirect employment to many people.
Jayesh Patel, a diamond manufacturer and trader, believed that every country has its own policy, and as the US is a large market, the diamond industry will face certain challenges. He further stated that if the tariffs continue in the future then they will find markets in other countries.
"This is an attack on our sovereignty. Their decision will not impact our country's economy and development. It would be beneficial if the US president refrained from such ideology, decisions and commentaries... We are capable enough. Whether it is 50% or 100%, it will make no difference..."
Congress president Mallikarjun Kharge on Wednesday lashed out at Prime Minister Narendra Modi stating that his "dear friend Abki Baar, Trump Sarkar" imposed 50 per cent tariffs on India and claimed that the country will suffer Rs 2.17 Lakh Crore as the "first jolt" due to tariffs.