New Delhi: Commerce and Industry Minister Piyush Goyal Will Hold a Key Meeting With Exporters On Wednsday to Discuss the implications of the 26% additional reciprocal tarifs Recently imposed by the US under President Donald Trump’s Administration, According to an Industry Official.
Senior Officials from the Commerce Ministry, Representatives from Various Export Promotion Councils (EPCS), and the Federation of Indian Export Organizations (Fieo) Are expected to Attend the meeting.
An official from one of the councils said expenses are prepaering to raise concerns over the potential fallout of the US tarifs, which could hurt demand and ultimately importantly impact india’s outbounds. “The duty may impact demand in the US, which would hurt our expenses,” an expert noted.
The US is India’s Larget Export Market, Accounting for Nearly 18% of India’s Total Goods Exports, 6.22% of Imports, and 10.73% of bilateral trade. India’s’s Merchandise Exports Fell for the fourth culture month in February, Citing Global Economic Uncerties.
From April to February in the 2024–25 fiscal year, India’s merchandise expenses reacted usd 395.63 billion, marginally Higher Than UsD 395.38 Billion in the Samme AarLier. Meanwhile, service expenses during the same period was Estimated at UsD 354.90 billion, UP from USD 311.05 billion the previous year.
Export sector expected to be directly impacted by the US tariff hike including shrimp, carpets, medical devices, and gold jewelery.
(Tagstotranslate) Business News (T) US TARIFS (T) Reciprocal tarifs
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