NEW DELHI: In response to recent US sanctions against Indian entities, the ministry of external affairs (MEA) affirmed on Saturday that India is actively engaging with American authorities to address concerns surrounding the measures. The sanctions, imposed by the US State Department, target 19 Indian companies and two individuals accused of allegedly supplying materials and technology to Russia, allegedly aiding its military in the ongoing Ukraine conflict .
Randhir Jaiswal, MEA spokesperson , remarked on India's adherence to strict non-proliferation policies, saying, "India has a robust legal and regulatory framework on strategic trade and nonproliferation controls. We are a member of key multilateral export control regimes and effectively implement relevant UNSC sanctions, including Resolution 1540 on non-proliferation."
Despite the US accusations, Jaiswal emphasized that the transactions in question do not violate Indian laws, underscoring India’s commitment to keeping its export control provisions updated and ensuring companies understand applicable restrictions. "Our understanding is that the sanctioned transactions are not in violation of Indian laws. We are in touch with the US authorities to clarify issues," he added.
Indian firms claim minimal impact
The companies affected by the sanctions, such as Shreegee Impex Private Limited and TSMD Global, asserted that the sanctions would not affect their operations. Praveen Tyagi, director of Shreegee Impex, expressed confusion over the decision, saying, "I don't know why these measures have been imposed on us. But it will not have any impact on us, because we neither import from the US nor export to the US"
Rahul Kumar Singh, Director of TSMD Global, voiced similar sentiments, explaining, "We are suppliers of automobile parts and agricultural implements, and we don't engage in any business with the US Our business with Russia will continue as usual."
Economic and political analysis
Economists suggest the sanctions may signal a larger geopolitical message. Manoranjan Sharma, chief economist at Infomerics Ratings, commented on the timing, noting, "This could be an attempt to influence the American elections on November 5. While it sends a message to both governments, it’s unlikely to have a significant impact on either India or Russia."
Sharma continued, "These measures will have an extremely limited impact," downplaying any major strain on India-US relations amid an ongoing discussion on India’s policies concerning Sikh extremism issues.
Ongoing dialogue on deportations
As part of India-US discussions, Jaiswal also touched on recent deportations of Indian nationals from the US “We have a regular dialogue with the United States on migration and mobility... facilitating the movement of people who are in the US illegally. This ongoing cooperation aims to create more legal migration opportunities,” Jaiswal noted, emphasizing India’s continued efforts to mitigate illegal immigration.
Randhir Jaiswal, MEA spokesperson , remarked on India's adherence to strict non-proliferation policies, saying, "India has a robust legal and regulatory framework on strategic trade and nonproliferation controls. We are a member of key multilateral export control regimes and effectively implement relevant UNSC sanctions, including Resolution 1540 on non-proliferation."
Despite the US accusations, Jaiswal emphasized that the transactions in question do not violate Indian laws, underscoring India’s commitment to keeping its export control provisions updated and ensuring companies understand applicable restrictions. "Our understanding is that the sanctioned transactions are not in violation of Indian laws. We are in touch with the US authorities to clarify issues," he added.
Indian firms claim minimal impact
The companies affected by the sanctions, such as Shreegee Impex Private Limited and TSMD Global, asserted that the sanctions would not affect their operations. Praveen Tyagi, director of Shreegee Impex, expressed confusion over the decision, saying, "I don't know why these measures have been imposed on us. But it will not have any impact on us, because we neither import from the US nor export to the US"
Rahul Kumar Singh, Director of TSMD Global, voiced similar sentiments, explaining, "We are suppliers of automobile parts and agricultural implements, and we don't engage in any business with the US Our business with Russia will continue as usual."
Economic and political analysis
Economists suggest the sanctions may signal a larger geopolitical message. Manoranjan Sharma, chief economist at Infomerics Ratings, commented on the timing, noting, "This could be an attempt to influence the American elections on November 5. While it sends a message to both governments, it’s unlikely to have a significant impact on either India or Russia."
Sharma continued, "These measures will have an extremely limited impact," downplaying any major strain on India-US relations amid an ongoing discussion on India’s policies concerning Sikh extremism issues.
Ongoing dialogue on deportations
As part of India-US discussions, Jaiswal also touched on recent deportations of Indian nationals from the US “We have a regular dialogue with the United States on migration and mobility... facilitating the movement of people who are in the US illegally. This ongoing cooperation aims to create more legal migration opportunities,” Jaiswal noted, emphasizing India’s continued efforts to mitigate illegal immigration.
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