Indian PM Modi vows to protect farmers, pushes self-reliance amid Trump tariff tensions
With the punishing tariffs imposed on Indian exports by US President Donald Trump expected to hurt growth in the world's fastest growing major economy, Modi announced lower goods and services taxes from October, a move that could help boost consumption.
Modi was addressing the nation on the occasion of its Independence Day at a time New Delhi has been struggling with Trump's tariffs and the collapse of trade talks, largely due to differences over imports of American farm and dairy products.
'Farmers, fishermen and cattle rearers are our top priorities,' Modi said in his customary annual address from the ramparts of the Red Fort in New Delhi.
'Modi will stand like a wall against any policy that threatens their interests. India will never compromise when it comes to protecting the interests of our farmers,' he said.
Modi did not mention the tariffs or the US in his speech that lasted nearly two hours. Last week, Trump imposed an additional 25% tariff on Indian goods, citing New Delhi's continued imports of Russian oil in a move that sharply escalated tensions between the two nations.
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