Tariff Troubles: US Actions Prompt Swadeshi-Like Boycott Call in India

Economist Utsa Patnaik has raised alarms over the implications of new US tariffs for India's agriculture, textile, and pharmaceutical sectors. Speaking at a workshop focused on free trade agreements and their impact on Indian agriculture and sovereignty, Patnaik suggested that India might have to consider a boycott strategy reminiscent of the historical Swadeshi Movement as a potential countermeasure.

Reflecting on the broader economic context, Patnaik highlighted actions by US President Donald Trump as indicative of a wider consumer crisis in America. Citing economist Joseph Stiglitz's findings, she noted the decline in real wages for American workers, signaling a diminishing consumption capacity in advanced capitalist economies.

Discussing the production landscape, Patnaik warned that unilateral US tariff actions could disrupt Indian farmers uniquely positioned due to India's diverse agricultural output. She emphasized the urgent need for concrete government measures to mitigate the crisis's impact on sectors heavily reliant on exports to the US, including pharmaceuticals and manufacturing.

(With inputs from agencies.)