Yoga guru Ramdev has urged Indian citizens to boycott American companies and brands as a reaction to the US imposing 50% tariffs on Indian imports. He termed the US's action political bullying, hooliganism and dictatorship.
The immediate impact of the recently imposed US tariffs on Indian exports may appear limited, but the secondary and tertiary effects on the economy pose significant challenges that must be addressed, highlighted a report by the Department of Economic Affairs under the Ministry of Finance.
Former senior diplomat Mahesh Sachdev said US tariffs on Indian goods are a "serious setback but not exactly a disaster," warning textiles, gems, jewellery, and seafood exports will be hit hardest, while leather and footwear face limited impact.
While speaking to ANI regarding the implementation of a 50 per cent US tariff in India, he said, "The 50 per cent tariff that will be implemented in India will most affect those industries, which provide the highest employment opportunities in our country. It is unfortunate that after Pre
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.
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.
"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.
He explained that because of the increased tariffs, Indian goods will be up to 35 per cent costlier in the American market compared to competitors, prompting buyers to look elsewhere.