India will never compromise, ready to pay personal price: PM Modi's message to farmers amid Trump tariffs

Prime Minister Narendra Modi on Thursday asserted that India will never compromise the interests of its farmers, fishermen and dairy farmers, saying he would be ready to pay any price.

"For us, the interest of our farmers is our top priority. India will never compromise on the interests of farmers, fishermen and dairy farmers," Modi said while addressing a three-day global conference commemorating the birth centenary of eminent agri-scientist Dr. M.S. Swaminathan.

“I know, I will have to pay a heavy price personally, but I am ready for it. Today, India is ready for the country's farmers, fishermen and dairy farmers,” the Prime Minister added.

His remarks come amid a continued stalemate over trade talks with the US, following which President Donald Trump imposed a 25% tariff on Indian goods, and subsequently an additional 25% penalty for purchasing Russian oil.

The two nations have been engaged in months-long negotiations aimed at finalising the first phase of a bilateral trade agreement by the fall.

An interim deal was expected to precede the full agreement. A US delegation is scheduled to visit New Delhi on August 25 for the next round of talks.

India has so far resisted US demands for duty concessions on sensitive sectors like agriculture and dairy. It has traditionally excluded dairy from tariff cuts in its past free trade agreements, a position it appears unlikely to change.

On its part, Washington is seeking market access for a wide range of goods, including electric vehicles, wines, industrial products, tree nuts, apples, petrochemicals, and genetically modified crops.

“The Government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs,” the commerce ministry said last week.

It also emphasised that the government will take “all steps necessary” to secure India’s national interest.

India has also retained the right under World Trade Organization (WTO) rules to impose retaliatory tariffs should the negotiations fail to produce a satisfactory outcome.