India Refuses to Bow to US Tariffs, Strengthens Trade Push with Russia

New Delhi (The Uttam Hindu): Despite the 50% tariff imposed by the United States on Indian goods, India has refused to bow down. In response, External Affairs Minister S. Jaishankar has called for strengthening trade ties with Russia. He urged Russian companies to take advantage of India’s rapidly growing economy and initiatives such as Make in India.

Jaishankar highlighted that India’s urbanization and development are generating new demands, creating significant opportunities for Russian businesses. He stated: “With a GDP of over $4 trillion and a growth rate of 7%, India needs reliable sources of resources. Russia’s supply in sectors such as fertilizers, chemicals, and machinery can be highly beneficial for us. The rapidly expanding infrastructure projects in India also present lucrative opportunities for Russian companies.”

The minister further emphasized that Make in India and other initiatives are opening new avenues for foreign investors. Changing consumption patterns and evolving lifestyles are also providing Russian companies opportunities to connect with the Indian market.

Focus on India-Russia Relations

Jaishankar stressed that India-Russia ties are among the most stable in the world, though economic cooperation has not reached its full potential. In recent years, bilateral trade has grown, but so has the trade deficit. He said: “We now need to make serious efforts to diversify and balance our trade. This is essential not only to achieve higher targets but also to sustain the current momentum.”