Prime Minister Narendra Modi has asserted India's unwavering commitment to protecting its farmers, fishermen, and dairy farmers, even if it means bearing significant personal costs. This declaration was made during a global conference commemorating the birth centenary of a prominent agricultural scientist known for advancing India's Green Revolution. Modi's statement comes against the backdrop of escalating trade tensions with the United States, which recently increased tariffs on Indian goods, including agricultural products, to 50%.
The Prime Minister's remarks can be viewed as a direct response to US President Donald Trump's decision to increase tariffs on Indian goods. The US is demanding greater access to India's agricultural and dairy markets, seeking reduced tariffs on products such as soybeans, corn, almonds, and apples. New Delhi is resisting these demands to protect its farmers.
Modi stated that India would never compromise on the interests of its farmers, dairy farmers, and fishermen, emphasizing that their welfare is the government's top priority. He acknowledged that he might have to "pay a very heavy price personally, but I am prepared for it". Modi's message aims to reassure rural communities and demonstrate the government's focus on protecting domestic interests amid global economic challenges.
The Prime Minister highlighted India's accomplishments in agriculture, noting its leading position in the production of milk, pulses, and jute, and its second-place ranking in rice, wheat, cotton, fruits, vegetables, and fish. He emphasized the government's continuous efforts to increase farmers' incomes, reduce their agricultural expenditure, and create new income sources. Schemes such as PM-KISAN, PM Fasal Bima Yojana, and PM Krishi Sinchai Yojana, along with the creation of Farmer Producer Organizations (FPOs), demonstrate the government's commitment to the comprehensive development of the agricultural sector.
Modi also outlined his vision for Indian agriculture, emphasizing the need for nutritional security, crop diversification, climate-resilient crop varieties, and technology integration. He advocated for developing drought-tolerant, heat-resistant, and flood-adaptive crops, as well as integrating AI and machine learning into agricultural systems. The Prime Minister suggested making real-time decision support systems accessible in every district to forecast crop yields, monitor pests, and guide farming practices.
The increased tariffs imposed by the United States could significantly impact Indian businesses and the stock market, especially those reliant on exports to the US. Sectors such as textiles, chemicals, and auto parts are particularly vulnerable. Analysts suggest the tariffs could lead to substantial losses for Indian export industries, making Indian goods more expensive in the US market.
