The minister said that the central government is preparing special support measures to help exporters affected by the U.S. tariffs.
Union Commerce and Industry Minister Piyush Goyal said on Friday that India will never compromise its self-respect in trade talks. His statement comes at a time when the U.S. has imposed 50 per cent tariffs on Indian goods and trade discussions between the two countries have stalled. Speaking at the curtain raiser of Bharat Buildcon in New Delhi, Goyal said, “India is always open to free trade agreements, but any kind of unfair treatment hurts the confidence and self-respect of our 1.4 billion people. We will never bow down or look weak. Together, we will keep growing and explore new markets. I am confident that this year, our exports will be even higher than last year’s.”
VIDEO | “We will neither bow down nor ever appear weak,” says Union Minister Piyush Goyal (@PiyushGoyal) amid US tariff hikes.
(Full video available on PTI Videos – https://t.co/n147TvrpG7) pic.twitter.com/6zvH7Ptp9c
— Press Trust of India (@PTI_News) August 29, 2025
The minister urged industry leaders to make the initiative fully independent and self-sustaining, while assuring that the government will continue to support them in managing trade challenges. He said, “This should be an industry-led and completely self-reliant effort. At every stage, what truly matters is the outcome, whether participants leave feeling happy and satisfied with the value they gained from this conference and exhibition.”
Goyal also expressed confidence that the recent trade agreements with various countries will help the Indian economy to grow. He also assured that the government will soon introduce various measures to expand the domestic outreach and boost exports. “I can assure each one of you that in the days ahead, the government will be coming out with a variety of measures to support every sector, both to expand the domestic outreach and look for complementarities in other markets around the world,” he said.
He also highlighted steps being taken to boost domestic demand. “We are looking at ways to increase local consumption. The GST Council is meeting next week, and the changes made there will start showing results quickly, giving a strong push to domestic manufacturing,” he added.
His comments come at a time when India’s export sector is under pressure, following the 50% U.S. tariffs on Indian goods announced by Donald Trump, which took effect on August 27.
