Measures soon to boost exports; Govt committed to shield industry from unilateral actions: Piyush Goyal

Commerce and Industry Minister Piyush Goyal announced upcoming measures to boost exports and domestic consumption, assuring support against unilateral tariffs, particularly the recent US imposition. The government is exploring alternative markets and anticipates the GST Council meeting will stimulate domestic manufacturing. Goyal emphasized India’s self-reliance and determination to exceed last year’s export figures, urging businesses […]

Amidst escalating tensions, the US, under President Trump, is adopting a confrontational stance towards India, drawing criticism from Western intellectuals. Experts lament the potential damage to long-standing US-India relations, citing aggressive tariff threats and visa restrictions.

Finance Minister Nirmala Sitharaman assured exporters of comprehensive government support to maintain growth, following the US imposing additional tariffs on Indian goods. She emphasized protecting workers’ livelihoods and urged industry leaders to ensure job continuity amidst global challenges.

The Indian government has prolonged the import duty exemption on cotton until December 31st to aid the textile industry during the festive season, following a drop in domestic cotton production. This move aims to lower input costs for exporters, especially after the US imposed a 50% tariff on Indian goods.

India is contemplating initiating consultations with the United States at the World Trade Organization (WTO) regarding tariffs imposed by Washington on copper imports. This action mirrors previous consultations sought by India concerning US tariffs on steel, aluminum, automobiles, and auto components.

India anticipates restarting talks with the United States on a proposed bilateral trade agreement. Resolving the 50% tariff issue on Indian goods is crucial for the deal. The government considers support for exporters, including an export promotion mission. Washington seeks tariff reductions on various products. India’s exports to the US rose in April-July FY26.