Union Minister of Commerce and Industry Piyush Goyal dismissed the latest wave of US tariffs slapped by the Donald Trump administration on India as mere "unilateral actions", assuring industry bodies that the Centre would reach out to other countries for new opportunities.
The minister was addressing the curtain raiser event of Bharat Buildcon event at New Delhi on Friday.
Incidentally, this was the commerce minister's first public comment since the doubling of US tariffs on Indian goods to up to 50% took effect on Wednesday.
Later, Goyal on Friday also said that the Free Trade Agreement (FTA) with Oman would be finalised soon. He also added that Qatar was looking to negotiate a deal with India.
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"The government is committed to making sure that all of you do not face any stresses or difficulties in managing the current situation, emanating from certain unilateral actions," Goyal said at the Bharat Buildcon event, referring to the Trump tariffs.
Goyal also called on the various industry stakeholders to apprise the government of which sectors were affected by the tariffs. He assured that the Commerce ministry, through various missions, is reaching out to the other parts of the world "to look at other opportunities."
The minister highlighted the Centre's focus to "boost domestic consumption", hinting at the impending GST reforms.
The impact of the changes would be felt very quickly, added the union minister. These changes would help the domestic manufacturing sector, he said.
The iron ore and steel industry is already looking to export 60 million tonnes of steel from the country. "This is another sector where we can become a supplier to many countries," asserted Goyal.
