In the face of growing alarm over Donald Trump’s sharp increase in tariffs on Indian exports, Prime Minister Narendra Modi stated on Thursday that India would not give up defending the interests of its farmers, even if that meant bearing economic consequences.

While speaking at the MS Swaminathan Centenary International Conference held in Delhi, Prime Minister Narendra Modi stated, “For us, our farmers' interest is our first priority. India will never compromise on farmers', fishermen's and dairy farmers' interests. I know we have to pay a big price for it, and I am willing. India is willing.”

His comments came as the President of the United States had announced a further rise in tariffs on Indian goods, including agricultural items, bringing the total rate to 50 per cent.

During the trade discussions, the United States had been asking for more access to India’s farm market, particularly for grains like corn, soybeans and cotton. However, India had so far refused to open this sector, especially agriculture and dairy, due to fears that it would hurt local farmers and their livelihoods, as reported by ANI.

On Wednesday, Donald Trump signed an executive order that imposed an additional 25 per cent tariff on Indian imports.

According to the executive order issued by the White House, Trump had cited national security, foreign policy concerns and other trade laws for the increase. He stated that India’s import of Russian oil, whether directly or indirectly, posed an “unusual and extraordinary threat” to the United States.

As per the order, the overall tariff on Indian goods became 50 per cent. The earlier tariff had already been implemented on August 7, and the new increase would be enforced after 21 days. This additional duty would apply to all Indian shipments entering the United States, except those already in transit or those that fall under specific exemptions.

The executive order also allowed for future changes depending on how the situation evolved, including the possibility of retaliation by other countries or steps taken by India or Russia to deal with the national emergency.

On the same occasion, Prime Minister Modi also released a commemorative coin and stamp to honour MS Swaminathan.

MS Swaminathan was a well-known Indian geneticist and agricultural scientist who was best known as the “father of the Green Revolution” in India. He played a major role in changing Indian agriculture during the 1960s by introducing high-yield wheat varieties and supporting the use of modern farming methods. His contributions led to increased food production and helped reduce poverty among farmers in the country.

Swaminathan was born on 7 August 1925 in Kumbakonam and passed away on 28 September 2023 in Chennai, Tamil Nadu, at the age of 98.