US President Donald Trump on Wednesday slapped an additional 25 per cent tariff, raising the total duties to 50 per cent on goods coming from India, as a penalty for New Delhi's continued purchase of Russian oil
Maharashtra is committed to protecting its industries and ensuring economic resilience, CM Fadnavis (above) said. File Pic
Maharashtra CM Devendra Fadnavis on Thursday held a high-level meeting to assess the potential impact of the recent hike in tariff by the Trump administration on state's economy and export-driven industries, reported the PTI.
US President Donald Trump on Wednesday slapped an additional 25 per cent tariff, raising the total duties to 50 per cent on goods coming from India, as a penalty for New Delhi's continued purchase of Russian oil.
The 50 per cent duty will come into effect from August 27.
According to the PTI, the meeting was convened with Maharashtra government's Chief Economic Advisor Praveensingh Pardeshi and was attended by senior officials as well as experts such as Professor Satyanarayan Kothe from Mumbai School of Economics and economist Rishi Shah.
The discussion focused on key indicators such as GDP, employment, and trade, an official release said on Thursday.
"CM Fadnavis highlighted the need to study the potential repercussions of the US tariff policy on Maharashtra's export-oriented sectors and global competitiveness. He directed officials to immediately coordinate with the Central government and chart out necessary measures to safeguard the state's economic interests," the release said, as per the PTI.
"The state is committed to protecting its industries and ensuring economic resilience," CM Fadnavis said at the conclusion of the meeting.
He said expert inputs and Central guidance would be sought in framing an effective response strategy.
Meanwhile, day after US President Donald Trump escalated the tariff dispute with India, Prime Minister Narendra Modi delivered a firm response, stating that India will never compromise on the interests of its farmers and fishermen.
Addressing the issue, PM Modi acknowledged that standing up for local communities might come at a cost, but declared he is prepared to 'pay the price' in order to safeguard their livelihoods.
His statement comes as a strong message of resistance and support for India’s agricultural and coastal sectors during rising trade tensions between the two nations.
Speaking at the MS Swaminathan Centenary International Conference in Delhi, PM Modi said, "For us, the interest of our farmers is our top priority. India will never compromise on the interests of farmers, fishermen and dairy farmers. I know we will have to pay a heavy price for it, and I am ready for it. India is ready for it," reported the ANI.
He said that farmers remain India's top priority, stating that the country would never compromise their interests -- a firm message in response to the recent tariffs imposed by Trump administration.
(with PTI inputs)
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