Delhi, 31 July (H.S.): Both Rajya Sabha and Lok Sabha resumed questioning at 2 pm amidst protests by Opposition MPs, leading to adjournments until 4.30 pm and 4 pm, respectively. When the Houses reassembled briefly, they faced continued disruptions, resulting in the Lok Sabha being adjourned until 11 am the following day. During the session, Commerce and Industry Minister Piyush Goyal delivered a suo motu statement regarding US President Donald Trump’s tariff announcement, which includes a new 25% tariff scheduled to take effect on August 1.
Goyal highlighted the various meetings held between Indian and US officials in recent months, aimed at shaping future trade and tariff policies. He stated the government is closely analyzing the implications of these developments while engaging with stakeholders to understand the evolving situation. Goyal emphasized the government's commitment to protecting the interests of Indian farmers, workers, entrepreneurs, exporters, MSMEs, and various industries.
In his statement, Goyal reiterated that the Indian government will take necessary actions to safeguard national interests in response to the tariffs announced by the US. He outlined the background of these tariffs, including an executive order on reciprocal tariffs issued on April 2, 2025, which included baseline duties and a total tariff impact of 26% on India. The full country-specific additional tariff was initially set for April 9, 2025, but was extended multiple times until its revised date of August 1, 2025.
With ongoing discussions aimed at finalizing a Bilateral Trade Agreement (BTA) by October–November 2025, Goyal mentioned that the government is consulting exporters, industries, and stakeholders to address their concerns about the tariffs. The session highlighted India's economic progress, noting a transition from the 'Fragile Five' to becoming one of the world's fastest-growing economies, with global recognition of its potential to evolve into the third-largest economy in the near future.
Deputy Chairman Harivansh declined to entertain questions on Goyal's statements, citing procedural rules, and proceedings will continue on Friday, August 1, at 11 a.m.
Hindusthan Samachar / Indrani Sarkar
