Mentha Oil Crisis: Tariffs Threaten Indian Industry's Survival

The mentha oil industry in India is grappling with a severe crisis following the imposition of a 50% tariff by the United States on Indian imports, posing a threat to the livelihoods of thousands of farmers and workers, according to industry exporters.

Amrit Kapoor, an exporter, has spoken out about the drastic impact, revealing that numerous orders have been placed on hold or outright canceled. Kapoor explained that a product priced at USD 20 has surged to USD 30 overnight, leading to confusion among foreign buyers and uncertainty for domestic manufacturers.

The President of the Rampur chapter of the Indian Industries Federation, Shirish Gupta, deemed the tariffs a 'pressure tactic' and urged governmental intervention with schemes to safeguard the threatened industries. Gupta expressed optimism, believing that the situation is temporary and a favorable resolution could soon emerge.

(With inputs from agencies.)