Tariffs and Trade Talks: Balancing National Development and International Relations

Finance Minister Nirmala Sitharaman defends 100% trade tariffs compliant with WTO norms, aimed at fostering domestic industry growth. Emphasizing exports and new markets, she highlights ongoing India-US negotiations to balance reciprocal tariffs while protecting India's export interests.

Finance Minister Nirmala Sitharaman has affirmed that the current trade tariffs, some reaching up to 100%, are in line with World Trade Organisation (WTO) norms. These tariffs are seen as crucial tools for fostering the growth of domestic industries and national development.

During a post-budget interaction, Sitharaman addressed questions regarding the tariffs, particularly those imposed on certain US imports. She described these tariffs as legitimate measures that protect India's domestic market while ensuring the nation's developmental goals align with international standards.

The finance minister also focused on the bilateral relationship with the US, stating that while both countries aim to protect their interests, ongoing discussions led by Commerce Minister Piyush Goyal with US officials aim to address reciprocal tariff issues, with the potential to explore new export markets. Sitharaman reinforced the central government's commitment to supporting state projects and nurturing India's export growth.

(With inputs from agencies.)