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Govt to Announce Measures to Boost Exports Amid US Tariff Hike; Piyush Goyal Assures Support to Exporters
Tariffs: The crisis on exports of labor-intensive sectors like textiles, leather, shoes and shrimp has deepened due to the imposition of up to 50% duty on Indian products by the US. Commerce Minister Piyush Goyal said that the government will soon take concrete steps to provide relief to exporters. Emphasis will be laid on finding alternative markets, promoting domestic consumption and global access.
The government will soon announce various measures to increase domestic and global access to promote exports. Commerce and Industry Minister Piyush Goyal said, exporters will be given every possible help to deal with the current global uncertainties on the trade front. The US has imposed a hefty duty of 50 per cent on the export of Indian goods. This is expected to affect the exports of some labor-intensive sectors like textiles, leather, shoes and shrimp.
Goyal said at an event on Friday, the government is committed to ensure that exporters do not face stress or difficulty in dealing with the current situation arising out of any unilateral action. You tell us the difficulties that are coming from these duties. We are looking for alternative markets. We are reaching out to other parts of the world through our missions to take advantage of the opportunities. We are also looking to promote domestic consumption.
The GST Council will meet next week, and boost demand in the domestic manufacturing sector. The government is talking to all stakeholders, including Indian missions abroad, to diversify exports. In the upcoming days, the government will take several steps to support every sector. This will expand our global reach. This may make our exports this year more than last year's exports.
