Karnataka's Export Strategy Amid Global Trade Turmoil
The Federation of Karnataka Chambers of Commerce and Industry (FKCCI) has introduced a strategy to diversify export markets in response to U.S. tariffs under the 'Trump Effect'. FKCCI President M G Balakrishna highlighted the need for support from the Indian government and urged members to explore alternative markets and technologies.
The Federation of Karnataka Chambers of Commerce and Industry (FKCCI) has launched a roadmap aimed at diversifying export markets. This initiative, dubbed the response to the 'Trump Effect', challenges the hefty tariffs introduced by U.S. President Donald Trump, which threaten the competitive edge of Indian exporters.
Speaking at the FKCCI Export Excellence Awards in Bengaluru, federation president M G Balakrishna outlined triumphs and challenges. Balakrishna emphasized that the tariffs not only impact large corporations but more acutely affect smaller exporters operating on thin profit margins.
Karnataka remains a powerhouse in India's export landscape, particularly in sectors such as IT-BT, aerospace, and emerging startups. Balakrishna urged a strategic pivot towards high-growth economies and adherence to global certification standards to strengthen India's position in global trade networks.
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