New Delhi: Prime Minister Narendra Modi on Thursday asserted that India would not compromise on the interest of farmers and fishermen in the face of increasing US pressure over the country’s purchasing of Russian oil.
Addressing the M.S. Swaminathan Centenary International Conference, PM Modi made it clear that taking a strong stand in favour of famers and fishermen ‘I know I will have to pay a huge price, but I am ready for it’.
The Prime Minister’s strong response to the US comes hours after the President Trump imposed an additional 25 per cent penalty on most imports from India.
The additional tariff has pushed overall duties on some exports to 50 per cent, which is likely to affect some of the key exports like fisheries from India to the US.
PM Modi told the Conference that ‘Today, India is prepared—for the farmers of my country, for the fisherfolk of my country, and for the livestock rearers of my country’, The Indian Express reported.
‘We are continuously working on the goals of raising farmers’ income, reducing cost of cultivation, and creating new sources of income,’ PM Modi was quoted as saying.
It is reported the US side is demanding zero-duty access for all its agricultural and dairy products to the Indian market.
However, India has dug its heels, making it clear that agriculture and dairy are non-negotiable in the trade talks.
The Indian Express has reported that New Delhi is unlikely to give in to the US pressure to allow access for genetically modified (GM) crops such as corn and soya to the Indian market.
Following India’s tough stance, the US Trade Representative (USTR) called India’s restrictions on GM imports ‘discriminatory’.
President Trump on Wednesday spiked duties on several Indian goods taking over all tariff to 50 per cent.