India on Wednesday signaled it was ready to play hardball with the US and put national interests first as it responded to US President Donald Trump’s 25% tariffs on Indian goods. New Delhi said any trade agreement should be balanced and fair to both countries and that it would continue to work with the US on striking a deal that benefits both New Delhi and Washington. D.C.

In a statement, the Indian Ministry of Commerce and Industry said that the government will take all steps necessary to secure national interest, as has been the case with other trade agreements, including the latest Comprehensive Economic and Trade Agreement with the United Kingdom.

The ministry said that India and the United States have been engaged in negotiations on concluding a “fair, balanced and mutually beneficial bilateral trade agreement” over the last few months.

It added that the government would protect and promote the welfare of farmers, entrepreneurs, and micro, small, and medium enterprises.

Trump, in a post on Truth Social, had earlier said that India’s tariffs were the highest in the world.

“Remember, while India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country,” Trump wrote on Truth Social.

“Also, they have always bought a vast majority of their military equipment from Russia, and are Russia’s largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE — ALL THINGS NOT GOOD!” he continued.

In a subsequent Truth Social post on Wednesday, Trump said, “WE HAVE A MASSIVE TRADE DEFICIT WITH INDIA!!!”

The Indian rupee, meanwhile, fell steeply against the dollar, hovering around Rs23.8 at 10am UAE time. It is expected to fall further and could hit Rs24 to a UAE dirham, according to some analysts. – editor@nrifocus.com