Indian Prime Minister Narendra Modi urged the country on Friday to move towards more self-reliance, manufacture everything from fertilisers to jet engines and EV batteries, and vowed to protect farmers in the face of a trade conflict with Washington.

India would not accept any compromise when it comes to the interests of its farmers, cattle-rearers and fishermen, Prime Minister Narendra Modi said Friday as the country wrestles with steep tariffs imposed by the US following breakdown of trade talks.

Trade negotiations between India and the US have stalled, with significant implications for agricultural policies and tariffs on Indian goods.

The US delegation, led by Assistant Trade Representative Brendan Lynch, was expected to be in India from August 25 to 30. While five rounds of negotiations have been completed, the sixth round was considered critical to align both sides on sensitive issues.

U.S. President Donald Trump has announced additional 25% tariff on India for its purchases of Russian oil, bringing the combined tariffs imposed by the United States on its ally to 50%.

Economist Jeffrey Sachs criticizes Donald Trump's tariff policies as detrimental to the US economy and a violation of international law, warning of potential legal challenges and geopolitical isolation.

Renowned economist and Columbia University Professor Jeffrey Sachs has strongly criticised the United States administration’s tariffs, terming them as pressure tactic on India.

The US said the the "historic relationship between the world’s largest democracy and the world’s oldest democracy is consequential and far-reaching".