India's Strategy to Counter U.S. Tariffs
India is diversifying its exports and boosting domestic demand to support exporters affected by recent U.S. tariffs. Trade minister Piyush Goyal addressed the issue following the U.S. government's decision to double tariffs on Indian goods to up to 50%.
In response to the recent tariff hike by the United States, India is strategizing to diversify its export base while stimulating domestic demand. This move aims to cushion exporters who are feeling the brunt of the U.S. decision.
Trade Minister Piyush Goyal broke his silence on the matter this Friday, emphasizing the need for robust measures to counter the 'unilateral action' that has disrupted India's trade patterns.
This development follows closely on the heels of U.S. tariffs on Indian goods doubling to as much as 50%, a significant increase that has sent ripples through the Indian export sector.
(With inputs from agencies.)
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