Ambassador and former External Affairs Secretary, Dr. Ausaf Sayeed, stated that the U.S. reciprocal tariff is a political tool to pressure countries into negotiating favorable deals. He made this statement at a summit hosted by FTCCI themed “Driving Resilience, Innovation & Global Collaboration”. He noted that while many nations trade with Russia without scrutiny, India is being “unfairly targeted”. He emphasized that India will not “buckle under pressure” and must diversify its markets to avoid “putting all our eggs in one basket”.
On the regional front, Dr. Sayeed pointed out that Telangana’s pharmaceutical exports are insulated from the tariffs. However, he flagged potential risks for labor-intensive industries like textiles, gems, and jewelry. He recommended that the Telangana Government urgently create a task force with industry bodies to develop a comprehensive export strategy.