Daijiworld Media Network – New Delhi

New Delhi, Sep 10: Commerce Minister Piyush Goyal on Tuesday dismissed concerns that America’s steep 50 per cent tariff on Indian goods was connected to the recent overhaul of the Goods and Services Tax (GST) framework. Speaking at the NDTV Profit GST Conclave, Goyal stressed that the tariff shock “does not represent a loss for the country.”

“India is a power in itself now. After all, 140 crore people, who generate demand, are a very big power. Those who miss this are at a loss. The loss is not India’s,” he said, underlining that the GST rationalisation was aimed at spurring domestic consumption, not offsetting US tariffs.

The US duty, estimated to impact $48 billion worth of trade, has strained bilateral ties. President Donald Trump has alternated between mocking India’s “dead” economy and calling Prime Minister Narendra Modi his “very good friend.” Asked if Trump’s unpredictability caused him sleepless nights, Goyal quipped that Modi’s instruction to serve people tirelessly was what kept him awake.

Government sources indicated a roadmap to expand exports to Europe, the UK, Japan, South Korea, and West Asia in order to reduce reliance on the American market.

On the stalled India-US trade agreement, Goyal said there are “high chances of a good deal,” but reiterated that agriculture and dairy remain India’s red lines. Washington has long pressed for access to these sensitive sectors, a demand Delhi has firmly rejected.