‘No matter how much pressure comes…’

Prime Minister Narendra Modi.

Prime Minister Narendra Modi on Monday (August 25) cautioned that economic pressure on India may increase but added “we will bear it.” He reaffirmed that the Indian government will not compromise on the interests of farmers and small-scale industries, also urging people to buy local products. PM Modi’s comments come as India faces a massive 50 percent tariff from the United States, which is set to kick in from Wednesday, August 27.

What did PM Modi say about US tariff?

Addressing a crowd in Ahmedabad in his homestate Gujarat, PM Modi said: “Today in the world, everyone is busy doing politics based on economic interests. From this land of Ahmedabad, I will tell my small entrepreneurs, my small shopkeeper brothers and sisters, my farmer brothers and sisters, my animal husbandry brothers and sisters and I am saying this on the land of Gandhi…I promise you again and again, your interests are paramount for Modi.” He added, “My government will never let any harm come to the small entrepreneurs, farmers, and animal keepers. No matter how much pressure comes, we will keep increasing our strength to withstand.”

How will 50% US tariff impact India?

During his address, PM Modi also called for widespread use of made-in-India items. “All of us should follow the mantra of buying only made in India goods. Businessmen should keep a big board outside their establishments, saying they sell only ‘swadeshi’ goods,” he said. The 50 percent US tariff is likely to adversely affect low-margin, labour-intensive industries including gems and jewelry, textiles, and seafood. At the beginning of this month, US President Donald Trump announced a 25 percent tariff on India, which was soon raised to 50 percent over New Delhi’s purchase of oil from Russia amid its war with Ukraine.