Commerce Minister Piyush Goyal to Discuss US Tariff Impact with Exporters

Commerce and industry minister Piyush Goyal is set to convene a crucial meeting with exporters to address the repercussions of the 26% additional reciprocal tariffs imposed by the US under President Donald Trump’s administration. This move has sparked concerns among Indian exporters about the potential negative impact on demand and India's outbound shipments.

Exporters Voice Concerns Over US Tariffs

Representatives from various Export Promotion Councils (EPCs) and the Federation of Indian Export Organisations (FIEO) are expected to attend the meeting. Exporters are particularly worried about the tariffs' effect on key sectors such as shrimp, carpets, medical devices, and gold jewellery, which could see a direct impact.

India's Trade Figures Amid Global Uncertainties

Despite global economic uncertainties, India's merchandise exports from April to February in the 2024–25 fiscal year reached USD 395.63 billion, slightly higher than the previous year. Service exports also saw an increase, estimated at USD 354.90 billion, up from USD 311.05 billion the year before.