India's Rs 2,250 Crore Mission: A Lifeline Amid Trump Tariffs
India is launching a Rs 2,250 crore export promotion mission to counter global trade challenges prompted by high US tariffs. The mission includes easy credit schemes, overseas warehousing, and branding initiatives, particularly targeting MSME and e-commerce sectors, to bolster domestic consumption and capture new markets.
- Country:
- India
In response to escalating global trade uncertainties marked by the imposition of high tariffs by the United States, India is poised to unveil a substantial Rs 2,250 crore export promotion mission. This strategic initiative aims to shield the industry by emphasizing support for sectors significantly affected, such as textiles, leather, and chemicals.
This bold mission is a two-fold strategy, focusing on providing vital trade finance support, dubbed NIRYAT PROTSAHAN, and enhancing international market access through the NIRYAT DISHA Initiative. The government's proactive steps include easy credit schemes for MSME and e-commerce exporters, along with facilitating overseas warehousing and instituting global branding campaigns.
Amid these endeavors, industry and government dialogues continue to address the broader challenges of doing business amid Trump-imposed tariffs. Key sectors in petroleum, fabrics, gems and jewellery, and more have shown negative growth, prompting this comprehensive governmental intervention to promote robust domestic consumption.
(With inputs from agencies.)
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