“Will not bow in front of anyone”, says Commerce Minister Piyush Goyal

Putting a brave face despite trade uncertainties after the US imposed high tariffs on Indian imports the Union Commerce and Industry Minister Piyush Goyal said India’s self confidence is so strong that it will only grow stronger and “will not bow in front of anyone.”

Addressing the Engineering Export Promotion Council (EEPC) awards function, the Minister said no matter how big the problem arises in the global situation, India stands together as a nation. The country has the strength to overcome any crisis, he said.

Goyal’s remarks come in the backdrop of the Trump administration imposing 25% reciprocal tariffs on India and an additional 25% levies for Delhi’s purchases of Russian oil, bringing the total duties imposed on India to 50%, among the highest in the world.

India has called the tariffs imposed by the U.S. “unjustified and unreasonable”.  Although there are early signs of truce between the two nations after the US President Donald Trump said “the two countries have a “special relationship” and “there is nothing to worry about” prompting India’s Prime Minister Narender Modi also to appreciate and reciprocate the sentiments.

Goyal emphasised that businesses should focus on swadeshi products, as this will not only help India’s growth but also strengthen the country’s financial security. Recently it has been seen that any country can impose export controls or restrict important products from reaching India, which can create hurdles for businesses. Therefore, he said, there is a need to focus more on “Atmanirbhar Bharat.”

India has come a long way. In 1955 Indian exports were at USD 10 million, while today they stand at USD 116 billion.

Asking businesses to focus on quality products made in India to ensure they are sold across the world, Goyal said he has full confidence that India, with the motto of “Zero Defect, Zero Effect,” will grow bigger. The world today considers India a trusted partner, and it is important to maintain that status.

Commenting on the recent decision to rationalize GSTs, the Minister said that the rate cuts and simplification of the structure will boost domestic demand. This will result in new opportunities for employees and increases in income. He further said that when infrastructure spending and consumer demand grow on the strong base of the economic system, no power in the world can stop India from becoming a world power.

Stating the importance of equitable economic benefits, the Minister highlighted that the advantages of GST rate cuts must be fully passed on to consumers, ensuring that growth reaches every citizen and strengthens the foundation of India’s economy. “When India works together as a united family, supporting each other across sectors, inclusive growth will naturally follow,” he said adding the country can become a global role model for sustainable and inclusive development.