India-US Trade War Intensifies: CTI Urges Retaliation

The Chamber of Trade and Industry (CTI) has appealed to Prime Minister Modi to counter the devastating impact of the US's 50% tariff on key Indian exports. CTI warns the hike threatens jobs and industry, urging India to explore new markets and impose counter-tariffs on American imports.

The Chamber of Trade and Industry (CTI) has made an urgent appeal to Prime Minister Narendra Modi, warning of potentially devastating impacts from a recent U.S. decision to impose a 50% tariff on Indian exports.

CTI Chairman Brijesh Goyal emphasized the wide-ranging effects on India's economy, particularly textiles, leather, gems, jewellery, auto components, chemicals, pharmaceuticals, seafood, and electronics industries.

He urged for a strategic response, highlighting the importance of imposing retaliatory tariffs on U.S. goods and diversifying India's export markets to countries like Germany, the U.K., Singapore, and Malaysia.