Nirmala's key comments on Trump's tariff.
Finance Minister Nirmala Sitharaman responds to concerns over potential US tariffs on India, emphasizing India’s self-reliance, strong services sector, and domestic capabilities in technology and research. She highlights the government's efforts to support exports through commercial institutions like ECGC and Exim Bank.
With Donald Trump's warnings, now like everything else, they are pushing forward with the tariff policy. It is well known that Trump has criticized India multiple times as the "Tariff King." In this context, the question arises whether they will impose tariffs on India. Regarding this, when the media asked whether India is concerned, Finance Minister Nirmala Sitharaman made key comments. She stated that there is no concern in this regard and emphasized that India wants to be a manufacturing hub. She mentioned that India is strong in the services sector. India has domestic capabilities in software, artificial intelligence, and STEM-based research, and we know India’s strengths. She pointed out that there is no benefit in imposing high tariffs to prevent imports of products that are not available in India.
She stated that the country is closely monitoring the situation with great caution. There may be indirect effects from tariffs imposed on other countries, especially in global trade dynamics, but India will remain vigilant and adapt accordingly, she said. Regarding "self-reliance," Sitharaman mentioned that it helps in reducing the impact of unforeseen challenges due to US tariffs. She also revealed that the government is continuing its efforts to support the export sector by strengthening commercial institutions like the Export Credit Guarantee Corporation (ECGC) and Exim Bank. For more updates on national policies and developments, visit Vaartha.
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