Prime Minister Narendra Modi is set to convene a high-stakes Economic Advisory Council (EAC) meeting at 6:30 PM today at his official residence, 7 Lok Kalyan Marg, to assess the economic fallout of escalating trade tensions with the United States.
Sources confirm that seven Union Ministers, including Finance Minister Nirmala Sitharaman, will be present at the meeting. The urgency stems from the recent imposition of a 25% tariff on Indian exports by the US, with a proposed hike to 50% slated for August 27. The move, reportedly in response to India’s continued oil imports from Russia, threatens to impact over $40 billion worth of non-exempt exports such as gems, textiles, and footwear.
The timing of the meeting is diplomatically significant, coinciding with Chinese Foreign Minister Wang Yi’s visit to India and preceding External Affairs Minister S. Jaishankar’s trip to Russia. These engagements signal India’s strategic pivot toward strengthening ties with Beijing and Moscow amid uncertainty in its trade relationship with Washington.
As the government weighs its options, today’s EAC session is expected to shape India’s economic response and recalibrate its global trade strategy.
