Engineering Exporters Urge Government Relief Against US Tariffs
The Engineering Export Promotion Council of India appeals to the government for relief from US-imposed tariffs on engineering exports. Key demands include reinstating the Interest Equalisation Scheme, affordable export finance, and special consideration for MSMEs. The sector faces significant challenges due to financial and competitive pressures.
- Country:
- India
The Engineering Export Promotion Council (EEPC) of India has called on the government to provide crucial support to mitigate the impact of the punitive tariffs imposed by the United States on engineering exports.
The council specifically urged for the reinstatement of the Interest Equalisation Scheme and the facilitation of affordable export finance to aid the struggling sector.
In a meeting with Reserve Bank of India Governor Sanjay Malhotra, EEPC India Chairman Pankaj Chadha emphasized that engineering exports to the USA, worth around USD 20 billion, are heavily impacted, necessitating immediate government intervention to sustain competitiveness.
(With inputs from agencies.)
Advertisement
Google News