India should not succumb: Amitabh Kant urges government to resist Trump tariffs
He urges patience and prolonged negotiations with US
India benefits from US firms and freedom to use data
Former NITI Aayog CEO Amitabh Kant has asked the government not to succumb to the tariff pressure imposed by US President Donald Trump and take the path of negotiation before imposing any retaliatory tariffs on the US.
"India needs not succumb. We should hold on and not impose retaliatory tariffs right now as we still have 20 days to negotiate," he said.
Adding that patience is the virtue in negotiations, he said, "We should engage in extensive backroom negotiations. But over a long period of time. We purchase Boeing planes, and several global digital companies based in the United States operate in India. We give them the freedom to use our data. All these are huge advantages for India," he said.
Talking about importing goods from China, he said that Chinese should be offered joint ventures with Indian companies on a minority stake and manufacture in India.
"Instead of importing from China, we should get the Chinese to do joint ventures with Indian companies on a minority stake and do manufacturing in India and that will enable India to do both input manufacturing and component manufacturing and accelerate the process of make in India and accelerate the process of manufacturing in India and that is a long-term answer to economic growth," said Kant.
"We need to grow at an eight to nine per cent per annum rate year after year and instead of importing, we need to do manufacturing with China in India, which will create jobs in India," he added.
The US President has announced the imposition of a 25 per cent tariff along with a 25 per cent penalty on select imports from India for continuing to buy Russian oil. According to Trump, oil imports from Russia are helping it fund its ongoing war with Ukraine.
Trade experts have warned that it could trigger retaliatory measures from New Delhi and strain the strategic partnership between the two nations.
Meanwhile, Russian President Vladimir Putin and Trump are scheduled to meet in Alaska. Both the leaders will discuss a solution on the ongoing Ukraine-Russia war. The US President, who has been trying to mediate a ceasefire between the warring nations, warned of "severe consequences" if Moscow does not agree to a peace deal.
Trump said that the primary objective of the talks was to broker a peace deal to end the conflict, which has been ongoing for over three years. He described the summit as a "feel-out meeting" to gauge the Russian leader's willingness to pursue a ceasefire. He had previously suggested that a peace agreement could involve "some swapping of territories." This idea has been met with resistance from Ukraine, which has stated it cannot violate its constitution on territorial issues.
On the other hand, Ukraine President Zelenskyy has affirmed that there will be no peace deal without Kyiv's involvement in the talks and emphasised that the country will not cede any territory to Russia.
Former NITI Aayog CEO Amitabh Kant has asked the government not to succumb to the tariff pressure imposed by US President Donald Trump and take the path of negotiation before imposing any retaliatory tariffs on the US.
"India needs not succumb. We should hold on and not impose retaliatory tariffs right now as we still have 20 days to negotiate," he said.
Adding that patience is the virtue in negotiations, he said, "We should engage in extensive backroom negotiations. But over a long period of time. We purchase Boeing planes, and several global digital companies based in the United States operate in India. We give them the freedom to use our data. All these are huge advantages for India," he said.
Talking about importing goods from China, he said that Chinese should be offered joint ventures with Indian companies on a minority stake and manufacture in India.
"Instead of importing from China, we should get the Chinese to do joint ventures with Indian companies on a minority stake and do manufacturing in India and that will enable India to do both input manufacturing and component manufacturing and accelerate the process of make in India and accelerate the process of manufacturing in India and that is a long-term answer to economic growth," said Kant.
"We need to grow at an eight to nine per cent per annum rate year after year and instead of importing, we need to do manufacturing with China in India, which will create jobs in India," he added.
The US President has announced the imposition of a 25 per cent tariff along with a 25 per cent penalty on select imports from India for continuing to buy Russian oil. According to Trump, oil imports from Russia are helping it fund its ongoing war with Ukraine.
Trade experts have warned that it could trigger retaliatory measures from New Delhi and strain the strategic partnership between the two nations.
Meanwhile, Russian President Vladimir Putin and Trump are scheduled to meet in Alaska. Both the leaders will discuss a solution on the ongoing Ukraine-Russia war. The US President, who has been trying to mediate a ceasefire between the warring nations, warned of "severe consequences" if Moscow does not agree to a peace deal.
Trump said that the primary objective of the talks was to broker a peace deal to end the conflict, which has been ongoing for over three years. He described the summit as a "feel-out meeting" to gauge the Russian leader's willingness to pursue a ceasefire. He had previously suggested that a peace agreement could involve "some swapping of territories." This idea has been met with resistance from Ukraine, which has stated it cannot violate its constitution on territorial issues.
On the other hand, Ukraine President Zelenskyy has affirmed that there will be no peace deal without Kyiv's involvement in the talks and emphasised that the country will not cede any territory to Russia. Join our WhatsApp Channel
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