India condemns US tariffs as unwarranted, unfair, and unjustified; states determination to persist in its economic policies
Vinay Kumar, India's ambassador to Russia, has expressed concerns over the US's decision to impose tariffs on Indian goods, particularly in relation to India's continued purchase of Russian oil. In an interview with the state news agency TASS, Kumar described the tariffs as unfair, unreasonable, and unjustified.
Kumar emphasised that India's energy policy aims to secure reliable supplies for its citizens, and India's trade with Russia is driven by mutual interests and market factors. He reiterated that India will continue buying oil from wherever it gets the best deal.
India's exports to Russia remain below potential in areas such as textiles, fashion products, auto and automobile spare parts, electronics, and IT-related products. The ambassador expressed India's keenness to expand its exports to Russia, particularly in electronics, automobiles, and construction materials.
The Ministry of External Affairs (MEA) has also called the imposition of tariffs "unfair, unjustified, and unreasonable" and declared that New Delhi will take "all actions necessary to protect its national interests."
India-Russia trade is currently conducted on a commercial basis, with no problems in payment for oil imports. The two countries have a working system of trade settlement in national currencies. India's cooperation with Russia has contributed to global oil market stability.
Other countries, including the US and European nations, also continue trading with Russia. The ambassador highlighted that if the basis of a commercial transaction is right, Indian companies will continue buying oil from wherever they get the best deal.
India needs to improve services trade, including financial and digital services, transportation, and related infrastructure. The country aims to ensure the energy security of its 1.4 billion people through its trade with Russia.
The Indian Foreign Minister, Subrahmanyam Jaishankar, has also spoken out against US tariffs related to India's purchase of Russian oil. Kumar made these statements during his interview with TASS.
New Delhi is currently dealing with global economic concerns due to US President Donald Trump's imposition of an additional 25% tariff on Indian goods. The ambassador's statements come as India takes measures to protect its national interest amid these challenges.
