The recent announcement by former U.S. President Donald Trump to impose an additional 25% tariff on Indian goods has sparked widespread criticism, with industrialist Harsh Goenka leading the charge. Goenka strongly condemned the move, asserting that while tariffs can impact exports, they cannot infringe upon India's sovereignty.

The tariff hike, which raises the total duty to 50%, is perceived as a response to India's continued import of Russian oil. Trump's decision is rooted in an expanded national emergency framework under the International Emergency Economic Powers Act, intended to penalize India for its alleged indirect support of Russia's war economy.

Goenka voiced his disapproval on social media platform X, emphasizing India's right to prioritize its energy security. He declared that India would not be bullied over its energy choices, rejecting what he termed Washington's "diktats". Goenka affirmed that India would find alternatives, build self-reliance, and not bow to external pressure.

The Indian government has also responded sharply, accusing the U.S. and EU of hypocrisy, as both continue to trade with Russia in energy and critical commodities. India has officially called the tariff "unfair" and has vowed to protect its national interests.

The new tariffs are expected to significantly impact key Indian export sectors, including IT services, pharmaceuticals, textiles, and engineering goods. However, some reports suggest that certain categories of imports may be exempt, including goods already covered under existing tariff orders.

Despite the concerns, Goenka has urged people to remain calm, expressing confidence in India Inc.'s ability to adapt, innovate, and thrive. He suggested that India should view the tariff hike as an opportunity to strengthen trade ties with ASEAN nations and Europe, leveraging the "China+1" shift. He also stated that key sectors like steel, pharmaceuticals, and IT exports would largely remain unaffected by the new tariff regime.

Goenka's stance reflects a broader sentiment that India should focus on self-reliance and explore alternative trade partnerships. He has also criticized Trump's suggestion of Pakistan selling oil to India as unrealistic.