A sweeping 50 percent tariff imposed by the United States has dealt a heavy blow to India’s export sector, triggering concern across industries and prompting a renewed call for economic self-reliance. The new policy, now in effect, is expected to hit textiles, jewelry, machinery, and seafood exports the hardest.
In response, Prime Minister Narendra Modi has urged citizens to reduce dependence on foreign markets and strengthen domestic production and consumption. Reviving the spirit of the ‘Make in India’ campaign, he emphasized that self-reliance must stem from pride, not despair.
To cushion the impact, the government has begun restructuring the tax system, aiming to ease pressure on small businesses and everyday consumers. Measures include lowering GST rates, introducing policy reforms, and boosting domestic spending to energize the internal market.
Experts warn that the tariff hike could slash India’s export earnings by as much as 40 to 50 percent. As global trade dynamics shift, India faces a defining moment either adapt swiftly or risk losing ground in key international markets.
+ There are no comments
Add yours