India Gears Up for Export Boost Amid Global Turmoil
Commerce and Industry Minister Piyush Goyal announced upcoming government measures to bolster exports and domestic consumption in response to high US tariffs on Indian goods. Assuring exporters of support, Goyal emphasized exploring new markets and boosting domestic demand to strengthen India's global trade position.
- Country:
- India
The Indian government is set to announce strategies to enhance exports and domestic consumption amid global trade tensions. This comes in light of the United States imposing a 50% tariff on Indian goods starting August 27.
Commerce and Industry Minister Piyush Goyal assured exporters of comprehensive support during a recent industry event. He highlighted the search for alternative markets to counteract the impact of US tariffs, targeting sectors such as shrimp, chemicals, leather, and footwear.
Goyal emphasized the upcoming GST Council meeting as a pivotal moment for initiating demand-boosting measures for domestic manufacturing. He reassured stakeholders about ongoing efforts to diversify exports, stressing India's historic export figures and resilience amid global uncertainties.
(With inputs from agencies.)
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