Mumbai (Maharashtra) [India], August 28 (ANI): Shiv Sena (UBT) leader Anand Dubey on Thursday criticised US President Donald Trump’s decision to impose a 50% tariff on Indian goods, calling it a humiliating move for India.
Dubey estimated that India exports around Rs 7.5 lakh crore worth of goods to the US across various sectors, and the tariffs could lead to significant economic losses. This move may also result in job losses, with experts predicting over 10 lakh jobs could be at risk.
Dubey criticised the Indian government for remaining inactive in addressing this issue, emphasising the need for the government to engage in diplomatic efforts with the US to resolve the matter.
“Donald Trump repeatedly tries to humiliate our country. He claims that he stopped the war (India-Pakistan), citing trade. The Indian government remains inactive… They will need to talk to Donald Trump. Now, due to the 50% tariffs he is imposing, you can estimate the economic loss India will incur. India exports about Rs 7.5 lakh crore worth of goods to America across various sectors… Consequently, workers here may lose their jobs… Experts believe that more than 10 lakh jobs could be lost as a result of this,” Anand Dubey told ANI.
The imposition of 50% tariffs by the US could severely impact India’s economy, particularly industries that heavily rely on exports to the US.
With exports valued at $12.33 billion in 2024, the engineering sector is likely to face significant challenges. India’s pharmaceutical exports to the US, valued at $12.73 billion in 2024, might be impacted by the tariffs.
The textile industry, including apparel and home textiles, with exports worth $3.10 billion and $2.52 billion, respectively, in 2024, could also be affected.
With $14.4 billion in exports in 2024, the electronics sector is another significant contributor to India’s exports to the US that might face challenges.
Earlier today, former NITI Aayog CEO and India’s former G20 Sherpa Amitabh Kant stated that the latest tariff measures by US President Donald Trump should serve as a “wake-up call” for India.
Taking to social media, Kant wrote, “Trump’s tariffs must be a wake-up call for India. The irony is striking: the U.S. is actively negotiating with Russia and China, the latter being the largest buyer of Russian oil, yet chooses to target India with tariffs instead. Let us be clear, this is not about Russian oil. It is about India’s energy security and strategic autonomy, which we should never compromise.”
Kant said that India must stay firm on protecting its strategic interests while using the situation to push through crucial reforms.
“India has, on numerous occasions, refused to yield to global pressure. This moment should be no different. Rather than intimidate us, these global headwinds must galvanise India into bold, once-in-a-generation reforms, while also diversifying our export markets to secure long-term growth and resilience,” he concluded.
The US first imposed 25% tariffs on India in early August. President Donald Trump then announced an additional 25% on India, effective August 27, for the country’s continued purchases of Russian oil. (ANI)
Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News
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