asserts that a trade deal is not going to harm farmers’ interests.
India’s firm trade
Ahead of the imposition of more US tariffs on Indian exports, External Affairs Minister S Jaishankar said on Saturday that India has “red lines” in its trade discussions with the US and would not back down from defending the interests of farmers and small producers.
In order to explain the current turbulence in India-US ties, he enumerated three issues: Russia’s crude oil, India’s refusal to accept mediation with Pakistan, and red lines in opening certain industries for US products in India.
Jaishankar affirms ongoing talks
He said that the two parties were still in communication over trade talks. “The talks are still ongoing. Individuals do converse with one another. It is not like there is a “kutti” (no communication) between our two large nations.
He said New Delhi will not endanger the interests of farmers and small producers, who benefited most from India’s red lines. Speaking during a press conference, Jaishankar said, “As a government, we are dedicated to preserving the interests of our farmers and small producers.”
Tariffs target India unfairly
He said that tariffs, the second problem, were “being marketed” as an oil-related one. “China, the greatest oil importer, and Europe, the largest LNG importer, have not been subjected to the same arguments which have been used against India,” he said.
Jaishankar had described the US’s retaliatory actions against India as “perplexing” two days before in Russia.
According to Jaishankar, the Joe Biden administration had “clear talks” concerning India’s oil trading with Russia, which led to the establishment of a price restriction. The price of Russian oil had been lowered and was now limited at $60 per barrel.
The third matter concerned mediation. According to the minister, India rejects outside involvement, particularly in matters pertaining to its relationship with Pakistan.
India has the right to make judgments that serve its interests as a country, according to Jaishankar. “We have the right to make judgments that serve our country’s interests.
During his visit to Russia earlier this week, Jaishankar met with Russian Foreign Minister Sergey Lavrov, Deputy First Prime Minister Denis Manturov, and President Vladimir Putin. Furthermore, he served as co-chair of the 26th meeting of the Inter-Governmental Commission on Trade, Economic, Scientific, Technological, and Cultural Cooperation between Russia and India.