Shashi Tharoor Criticizes Trump's Tariffs Impacting Indian Economy
Senior Congress leader Shashi Tharoor criticized US-imposed tariffs that have led to significant job losses in India, particularly in the gems, jewelry, seafood, and manufacturing sectors. He labeled President Donald Trump as mercurial, urging India to diversify export markets and build new political alliances to mitigate economic impacts.
- Country:
- Singapore
Shashi Tharoor, a prominent figure in the Indian Congress, has raised concerns about the economic impact of US tariffs on India, during an address at a conference in Singapore organized by CREDAI. The tariffs, which include a significant penalty for importing Russian oil, have severely impacted Indian industries, most notably gems, jewelry, seafood, and manufacturing.
Labeling US President Donald Trump as 'mercurial' and unconventional in his diplomatic conduct, Tharoor emphasized the need for India to diversify its export markets. With 1.35 lakh jobs already lost in Surat and potential further losses looming, the situation demands immediate attention. Tharoor urged India to explore new political alliances, including strengthening ties with Europe and other global powers.
Tharoor emphasized the necessity of negotiating better trade deals, particularly reducing the basic 25% tariff, to maintain access to the US market. He criticized the US sanction policy as unsustainable and partial, urging for fairness in the approach to countries importing Russian oil. Diversification of export markets and political strategies are perceived as crucial steps for mitigating the adverse effects on India's economy.
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