Export promotion measures launched to offset tariffs

The government on Tuesday said it is taking steps to reduce the impact of the tariff hike imposed by the US administration on Indian goods. These measures, which include launching an export promotion mission, will enhance diversification and resilience of the country's trade, it said.

"The government continues to work to mitigate the impact of the US tariff measures on Indian exports through a comprehensive multi-pronged strategy encompassing intensive engagement with the US government for a mutually beneficial India-US bilateral trade agreement," minister of state for commerce and industry, Jitin Prasada, said in a written reply to the Lok Sabha.

He said immediate relief has been given through trade relief measures of the Reserve Bank of India (RBI) and the announcement of the credit guarantee scheme for exporters, enhancement of domestic demand through GST reforms, and negotiating free trade agreements (FTAs) with more countries.


On July 31, the US issued an executive order with reciprocal tariff rates for its trading partners. The order notified country-specific additional ad-valorem duty rates for certain American trading partners, including those which have agreed to or are in the process of concluding trade agreements with them.