Market ends lower amid global weakness following higher-than-expected US tariff
The Trump tariff triggered selloff in IT, while pharma bucked the trend.
Donald Trump was a “friend of India” and the country’s ties with the US were only getting better with time, said Union Commerce and Industry Minister Piyush Goyal on Thursday.
India was looking forward to starting talks with the new administration in the United States under Donald Trump, he added.
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“We need not jump the gun and let the new government take charge and express their formal and official view. To the best of my understanding of the situation and my own experience with Trump’s administration, I do not foresee any problem whatsoever,” Goyal pointed out.
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Notably in October, Trump had termed India as the biggest tariff charger and has threatened reciprocal tariffs.
Further, speaking on India’s exports, Minister Goyal said that he expects India’s goods and services exports to surpass USD 800 billion in the current financial year 2025, despite the geopolitical challenges due to the back-to-back wars as well the Red Sea crisis.
The minister said the government was also open to any suggestion regarding any new policy support for exporters, provided it is compliant to global trade rules.
Talking about India’s manufacturing push, the minister said the production linked scheme (PLI) has resulted in attracting investments worth Rs 1.5 trillion.
Addressing a press conference, Minister Goyal outlined various initiatives taken by the Narendra Modi-led NDA government in the last ten years, including Make in India, Digital India, power sector reforms, among several other measures.
He said it is “unfortunate” that the Opposition, while neglecting all the work done by the Modi-led NDA government, keeps defaming the country whether at home or abroad, and also does not even let Parliament function.
The minister said the days of “negative” thinking are over and now an aspirational young India is moving ahead at a fast pace.
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