&imwidth=800&imheight=600&format=webp&quality=medium "Maruti Suzuki India chairman backs Centre over Trump tariff: 'Don't give in to...'")
A day after Donald Trump's tariff on Indian exports to the United States took effect, Maruti Suzuki India (MSIL) Chairman RC Bhargava said on Thursday that India must not submit to bullying. During the company’s annual general meeting, he said it is the duty of the people as Indians to support the government and not give in to any kind of bullying. He called for unity.
RC Bhargava called for maintaining the dignity and respect of the nation in the face of the tariff.
"I believe it is our duty as Indians to do our very best to support the government and maintain our dignity and respect, and not give in to any kind of bullying in this matter. The nation has to stand united at this point," he was quoted as saying by Business Standard.
Donald Trump's 50 percent tariffs took effect on Wednesday, jeopardizing thousands of jobs and many sectors, including textiles, gems, and jewelry.
The Indian stock markets reacted adversely to the tariffs on Thursday.
Experts believethat the central government's proposal to bring in GST reforms by slashing the 28 per cent and 12 per cent slabs may improve investor sentiment in the coming days. The GST Council meeting is scheduled on September 4, where the matter might be discussed. The Group of Ministers has already approved the proposal.
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Bhargava said that he hopes that the GST Council approval may revive the flagging small car market.
"My hope and my expectation is that, subject to approvals by the GST Council, we will see a revival of the small car market, overall faster growth of the car industry, more industrial activity, and larger generation of employment opportunities," he added.
Donald Trump imposed the tariff as a penalty for buying Russian oil and weapons. New Delhi says that by discounted oil, it is doing what's best for its people.