Goyal says India to take all steps to protect national interest amid tariff row; Congress says 'non-statement'

New Delhi: Government on Thursday made a restraint statement in Parliament on the US imposing 25% tariff and penalty, saying India will take "all necessary steps" to safeguard and promote national interest while subtly telling the Americans that the country has rapidly transformed from being one of the fragile 5 to the fastest growing major economy in the world.

Amid the Opposition targeting Prime Minister Narendra Modi for US President Donald Trump's announcement, Commerce Minister Piyush Goyal in identical statements in Lok Sabha and Rajya Sabha said that the government attaches "utmost importance" to protecting and promoting the welfare of farmers, workers, entrepreneurs, exporters, MSMEs and all sections of industry.

He said the government is "examining the implications of these tariffs" and is "in consultation" with all stakeholders, including exporters and industry for taking feedback of their assessment of the situation.

"We will take all necessary steps to secure and advance our national interest," he said in both Houses, amid protests by the Opposition over Special Intensive Revision of electoral rolls. In Rajya Sabha, the Opposition demand for seeking clarification on the statement was not allowed, citing rules.

Responding to Goyal's statement, Congress Rajya Sabha Chief Whip Jairam Ramesh said on 'X' it was a "non-statement" and all the Minister engaged in was "totally misplaced self-congratulation" and that the "real issues" thrown up by the failure to clinch a trade deal with the US, 25% tariff and additional penalties were "hardly touched upon".

"The concerns and sentiments of Indian businesses were simply not addressed. It is abundantly clear that India faces new and huge challenges with the US now. Prime Minister Modi had banked on his much-vaunted personal friendship with President Trump. This has proved to be completely hollow," Ramesh said.

Trump's surprise announcement came amid a US trade team visiting India from August 25 for the sixth round of negotiations for a bilateral trade agreement and New Delhi is treading a cautious path, leaving scope for an amicable conclusion of the trade deal.

In what is seen as a retort to Trump's claims that India is a "dead economy", Goyal said, "we have risen from the 11th largest economy to one of the top-5 economies, driven by our reforms, hard work of our farmers, MSMEs and entrepreneurs. It is also widely expected that we will become the third largest economy in a few years." He said international institutions and economists today see India as the bright spot in the global economy.

Emphasising that India is contributing to almost 16% of global growth, he said the government has taken measures to promote India as the manufacturing hub of the world, driven by the Make in India initiative, in the last decade.

"India's young, skilled and talented workforce is driving innovation and competitiveness of Indian industry. Our exports have steadily increased during the last 11 years...In an increasingly protectionist world, India has done mutually beneficial trade agreements with UAE, UK, Australia and EFTA countries," he said.

"We are also committed to similar trade agreements with other countries. We are consistently working for the welfare of the farmers and Indian agriculture, to promote prosperity and ensure food security," he added.