UP Government Acts to Safeguard Industries Amid US Tariff Crisis
The Uttar Pradesh government, led by MSME and Textile Minister Rakesh Sachan, has vowed to prevent industries from faltering due to the US-imposed 50% tariff. State and Central governments are considering special aid packages, with a focus on supporting the carpet industry, heavily reliant on US exports.
In response to the significant 50% tariff imposed by the United States, the government of Uttar Pradesh has pledged to prevent any local industry from faltering. This assurance comes from Rakesh Sachan, the state's MSME and Textile Minister.
The state government plans to supplement existing aid with additional support from its resources. After consulting with industry stakeholders and officials, Chief Minister Yogi Adityanath has ordered the development of a special aid package to address the crisis.
Given that 60% of India's carpet exports target the US, the state is considering a special assistance package to mitigate the effects of the tariff, aiming to announce further support beyond what the Centre provides.
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