India's trump card to defeat Trump; The Swadeshi movement is being debated again

 

 

US President Donald Trump's imposition of a 25% import duty on Indian products has raised concerns in the country's trade sector. It is estimated that this will deal a heavy blow to many industries and jobs. However, India is moving to turn this challenge into an opportunity. The US move is paving the way for a new wave of emphasis on 'Swadeshi' products to gain strength in the country. In his speech in Varanasi last Saturday, the Prime Minister had asked traders to sell only 'Swadeshi' products in their shops. He also said that promoting Indian-made products is a great service to the country.

Trade dispute

While the US-India trade deal talks are in progress, US Trade Representative Jamieson Greer has said that the tariffs are unlikely to be lifted. A senior US official had said the other day that India's market is very closed. In addition, Trump has expressed dissatisfaction with issues such as India's BRICS membership and oil purchases from Russia. He has also hinted that further measures may be taken against India's continued trade relations with Russia. India is standing firm on its position despite Trump's tariff threats. The government has not yet instructed oil companies to stop buying crude oil from Russia. Prime Minister Narendra Modi highlighted the importance of protecting the country's economic interests in a public event the other day.