New Delhi: Maruti Suzuki India Chairman R.C. Bhargava on Thursday said that the country should not bow down to US threats over tariffs. The country should maintain its dignity and remain united. Addressing shareholders at the company's 44th Annual General Meeting (AGM), Bhargava spoke about the global uncertainty in recent months due to US tariffs.
Bhargava said, "US President Donald Trump has forced countries to rethink their traditional policies and relations in many ways. This is the first time that the personal use of tariffs in diplomacy is being seen." The US's 50 percent duty on goods exported from India has come into effect from August 27.
This will generate exports and employment in labour-intensive sectors like shrimp, garments, diamonds, leather and footwear and gems and jewellery. “I believe it is our duty as Indians to do our utmost to maintain our honour and dignity and not to bow down to any kind of threat in this regard… The country has to come together at this time,” he said.
A day after the US imposed a total tariff of 50 per cent on Indian exports, a government official said on Thursday that the government is trying to expedite the implementation of the Export Promotion Mission to help exporters. Bhargava termed the announcement of restructuring of the Goods and Services Tax (GST) as a major economic reform.