The 50 percent tariff imposed by the United States on Indian goods from August 27 is “unfair and unjustified,” Minister of State for External Affairs Kirti Vardhan Singh said on Wednesday on the sidelines of the CII India–Africa Business Conclave in New Delhi.
Singh argued that the tariffs were “selectively imposed,” noting that the rationale cited by Washington applied to other countries as well. He reiterated that India would continue to protect its energy security despite external pressure.
US President Donald Trump earlier this month announced an additional 25 percent duty on India, citing its imports of Russian oil and framing the move as part of efforts to pressure Moscow over the Ukraine war.
India’s resilience
Singh underscored confidence in India’s economic trajectory.
“Our economy is strong and capable of withstanding pressures,” he said, echoing the finance ministry’s latest monthly review, which highlighted that easing commodity prices would help soften the blow of higher US tariffs.
India–Africa trade deepens
At the keynote session, Singh highlighted the rapid growth of India–Africa economic ties.
“India–Africa trade has crossed $100 billion,” he said, pointing out that bilateral trade has nearly doubled since 2019–20.
He also referenced India’s growing investments in Africa and the global adoption of India’s digital public infrastructure. Namibia became the first African country to adopt Unified Payments Interface (UPI) in July, joining a group of seven countries where UPI is currently accepted.
“The number of countries looking to join UPI is constantly increasing,” Singh told Moneycontrol. “It’s not just UPI—it’s our information technology and governance integration that is being sought after not just by African nations but many others worldwide.”
Bhutan was the first country to adopt UPI in 2021, and the list has expanded steadily since.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
