Indian Exporters Reel Under Trump Tariffs: Urgent Call for Government Support

Indian exporters are mounting a fervent plea for government intervention in response to a new 25% tariff announced by the Trump administration. Representatives from sectors such as food, marine, and textiles have approached Commerce and Industry Minister Piyush Goyal for financial support and affordable credit to alleviate the burden.

During discussions in Mumbai, exporters advocated for initiatives akin to the production-linked incentive (PLI) scheme. Officials have voiced concerns over the potential negative impact on American markets, prompting calls for exporters to submit written suggestions to the ministry.

High domestic interest rates, compared to lower rates in competing nations, further exacerbate the exporters' challenges. With a substantial portion of India's leather and apparel exports dependent on the US market, the tariff could disrupt shipments, potentially resulting in job losses and necessitating sub-cost sales to maintain operations.

(With inputs from agencies.)