Business
‘We Shine Out’: Piyush Goyal Says India Committed To Economic Growth Amid Trump Tariffs
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Commerce Minister Piyush Goyal had reaffirmed that India is open to trade talks with the United States but will never succumb to pressure amid a tariff hike.
Union Minister Piyush Goyal. (File Photo: PTI)
Union Commerce Minister Piyush Goyal on Saturday assured that the Indian government is committed towards sustainable economic growth, after India’s GDP grew at 7.8% in the first quarter ending on June 30, 2025, as per official data.
“We are committed to working with all of you, and we would like to ensure that this GDP growth of 7.8% is sustainable,” he was quoted as saying by NDTV at an event organised by the Confederation of Indian Industry in Mumbai.
“It can happen, as in adversity, we Indians shine out. We all have the ability to put that little extra,” Goyal said. His remarks came after US President Donald Trump imposed 50% tariffs on Indian imports as a penalty for purchasing Russian oil, impacting key trade sectors such as textiles and shrimp.
India has condemned the tariffs as “unfair and unreasonable”, citing the US and Europe’s own imports from Russia. The Finance Ministry has said that the immediate impact of recent US tariffs on Indian exports may appear limited but their secondary and tertiary effects on the economy pose challenges that must be addressed.
‘India Will Never Back Down’
On Friday, Goyal said India was open to trade talks with the US, but would never succumb to pressure or appear weak in the face of punitive tariffs. “We are always ready if anyone wants to have a free trade agreement with us,” he said at the curtain raiser event of Bharat Buildcon in Delhi.
“However, any form of discrimination affects the self-respect of India’s 140 crore Indians, and we will neither bow down nor ever appear weak. We will continue to move together and capture new markets,” he added.
Goyal also expressed confidence that the recent trade agreements with various countries will help the Indian economy to grow. He also assured that the government will soon introduce various measures to expand the domestic outreach and boost exports.
He also said there was “no need to fear”, citing India’s management of nuclear sanctions and the Covid-19 pandemic. “The government is committed to make sure that all of you do not face any stress or difficulties in managing the current situation emanating from some unilateral actions,” he said.
Aveek Banerjee is a Senior Sub Editor at News18. Based in Noida with a Master’s in Global Studies, Aveek has more than three years of experience in digital media and news curation, specialising in international…Read More
Aveek Banerjee is a Senior Sub Editor at News18. Based in Noida with a Master’s in Global Studies, Aveek has more than three years of experience in digital media and news curation, specialising in international… Read More
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The government on Thursday kept petrol and high-speed diesel (HSD) prices unchanged at Rs253.17 per litre and Rs257.08 per litre respectively, for the coming fortnight, starting from January 16.
This decision was notified in a press release issued by the Petroleum Division.
Earlier, it was expected that the prices of all petroleum products would go down by up to Rs4.50 per litre (over 1pc each) today in view of variation in the international market.
Petrol is primarily used in private transport, small vehicles, rickshaws, and two-wheelers, and directly impacts the budgets of the middle and lower-middle classes.
Meanwhile, most of the transport sector runs on HSD. Its price is considered inflationary, as it is mostly used in heavy transport vehicles, trains, and agricultural engines such as trucks, buses, tractors, tube wells, and threshers, and particularly adds to the prices of vegetables and other eatables.
The government is currently charging about Rs100 per litre on petrol and about Rs97 per litre on diesel.
One of Britain’s most prolific rail fare dodgers could face jail after admitting dozens of travel offences.
Charles Brohiri, 29, pleaded guilty to travelling without buying a ticket a total of 112 times over a two-year period, Westminster Magistrates’ Court heard.
He could be ordered to pay more than £18,000 in unpaid fares and legal costs, the court was told.
He will be sentenced next month.
District Judge Nina Tempia warned Brohiri “could face a custodial sentence because of the number of offences he has committed”.
He pleaded guilty to 76 offences on Thursday.
It came after he was convicted in his absence of 36 charges at a previous hearing.
During Thursday’s hearing, Judge Tempia dismissed a bid by Brohiri’s lawyers to have the 36 convictions overturned.
They had argued the prosecutions were unlawful because they had not been brought by a qualified legal professional.
But Judge Tempia rejected the argument, saying there had been “no abuse of this court’s process”.
JSW Jetour T2 Launch: JSW Motors Limited, the passenger vehicle arm of the JSW Group, is reportedly preparing to enter the Indian car market this year. It has partnered with Jetour, a China-based automotive brand owned by Chery Automobile, and the Jetour T2 SUV could be the company’s first product, according to the reports.
Media reports suggest that the launch will happen independently and not under the JSW MG Motor India joint venture. The SUV will wear a JSW badge and name, instead of the Jetour branding. The upcoming SUV will be assembled at JSW’s upcoming greenfield manufacturing facility in Chhatrapati Sambhaji Nagar, Maharashtra.
According to the reports, the company plans to have the vehicle on sale by the third quarter of this year. With this move, JSW aims to establish itself as a standalone carmaker in India.
Expected Powertrain
The SUV is likely to arrive with a 1.5-litre plug-in hybrid setup. Internationally, this hybrid powertrain is offered with both front-wheel drive and all-wheel drive options. It is still unclear which version will be introduced in India.
Design
In terms of design, the T2 is a large and rugged-looking SUV. It has a boxy and upright stance, similar to vehicles like the Land Rover Defender. Despite its tough appearance, it uses a monocoque chassis instead of a ladder-frame construction.
Size
The SUV measures around 4.7 metres in length and nearly 2 metres in width. This makes it larger than the Tata Safari, even though it is a five-seater. A longer 7-seat version is also sold in some markets.
Price
Pricing details for India are yet to be announced. For reference, the front-wheel-drive five-seat T2 i-DM is priced at AED 1,44,000 (around Rs 35 lakh) in the UAE.
Jetour
Jetour is a brand owned by Chinese automaker Chery. Launched in 2018, it focuses mainly on SUVs and is present in markets across China, the Middle East, Africa, Southeast Asia and Latin America.
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