New Delhi: Commerce and Industry Minister Piyush Goyal on Thuresday Sugged to Industry that it was imperative to some Protectionism As the world was looking at reciprocity, while assuring Exporters That govt was working overtime to protect their interests.
“Reflecting on reciprocal tarifsHe has cauted the EPCS (Export Promotion Councils) to come out of their protectionist mindset and encourage Official Statement said.
Some Industries, Such as Pharma and Engineering Goods, Especially Auto Parts, appeared nervous in the wake of us President Donald Trump's Reciprocal Tariff Charat. The UK and Eu Too are seeking sharp cuts in duties, arguing that Levies in India are high.
“MSME Exporters are a worried lot. Total Exports of $ 5 Billion Dollers are Hit by Recent Tariff Imposed by Donald Trump… Since Voyage Time to the US is Approximately 60 Days, About $ 1 Billion is in the HIGHS Duty, “said Eepc india Chairman Pankaj Chadha, Referring to the decision to increase duties on iron and steel products to 25%.
Commerce Secretary Sunil Barthwal, However, Surgt to Comfort Industry, Suggessting that Labor Intensive Sector will be shielded. While outlining the focus of the proposed Agreement, Barthwal Told Exporters that the idea was to lower duties and reduce non-Tariff Barriers and Asked Industry Represtave Interests, sources told toi. Besides, Businesses have been asked to identify inputs and products where sourcing can be diversified, in what is seen as a message to buy from the us to reduce the trap and addres and addres Concern.
The comments camements came amid reepeated attacks by American President Donald Trump Over India's “High Tarifs” and the Threat to Impose Reciprocal Tariffs Against Countries that Levy Higher Higher Higher Highe C C C C C C C LEVY DUTIES THANS The US, starting April 2.
Goyal said that govt is working on several tracks, negotiating with multiple trading partners to ensure the best interests of Indian expenses. “Indicating that govt has reacted final stages in ftas with less in particular, the minister was positive that it will lead to much better options for options for Indian expenses and will also bring in” Said.
'Push Shipments to Reach Last Year's Level'
Staring at a Second Consecurave Year of Decline in Goods Exports, Commerce Department on Try Torn Asked Exporters to Push Shipments during the Remaining Fortnight of March to Reach as CLOST YEARST YEAR SHE Level of $ 437 Billion. While Overall Exports – Including Goods and Services – Are Expected to Cross $ 800 Billion during the current fiscal year, minister piyush goyal asked experts to target $ 900 billion dooring 2025-26.
(Tagstotranslate) Business News (T) Reciprocal tariffs
Leave a Reply