The minister assured industry representatives that the government is actively working to create an enabling environment to assist exporters in navigating recent challenges.
New Delhi: Commerce and Industry Minister Piyush Goyal on Wednesday assured exporters of government support in addressing the steep tariffs imposed by the United States, an official stated.
He also reaffirmed the government's commitment to protecting the interests of Indian exporters amid the shifting global trade landscape.
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According to the official, the minister assured industry representatives that the government is actively working to create an enabling environment to assist exporters in navigating recent challenges.
Goyal urged exporters to enhance product quality, align with international standards, diversify supply chains, and explore alternative markets.
These matters were discussed during a meeting convened by the commerce ministry with representatives of Export Promotion Councils (EPCs) and industry associations, aimed at addressing the rise in global tariffs, identifying solutions, and charting a way forward in the face of evolving trade dynamics.
“He assured EPC and industry representatives that the government remains committed to providing a supportive ecosystem through ease of doing business initiatives, targeted trade support, and timely policy interventions to mitigate the impact of rising tariff measures,” the official added.
The government is currently working on an export promotion mission, with a budget allocation of ₹2,250 crore. As part of its immediate and short-term response, it is considering several measures to ease liquidity constraints, prevent insolvencies, provide greater flexibility to units in Special Economic Zones (SEZs), and promote targeted import substitution.
An exporter who participated in the meeting stated that the issues raised included fiscal incentives, resumption of the interest subsidy scheme, and increased funding under the Market Access Initiative.
However, the exporter noted it is unlikely that the government will extend direct subsidy support.
Discussions focused mainly on the recent imposition of a steep 50 per cent tariff by the United States on Indian products.
Exporters and industry representatives outlined the challenges posed by these tariff barriers, their effect on the competitiveness of Indian goods in major international markets, and stressed the need for targeted, sector-specific interventions.
Breaking a two-month declining trend, India’s exports rose by 7.29 per cent to USD 37.24 billion in July, although the trade deficit widened to an eight-month high of USD 27.35 billion during the same month.
Between April-July of the 2025–26 financial year, exports increased by 3.07 per cent to USD 149.2 billion, while imports grew by 5.36 per cent to USD 244.01 billion. The trade deficit for the first four months stood at USD 94.81 billion.
India’s merchandise exports to the United States rose by 19.94 per cent to USD 8.01 billion in July, while imports increased by 13.78 per cent to approximately USD 4.55 billion, according to data from the commerce ministry.
During the April-July period, exports to the United States grew by 21.64 per cent to USD 33.53 billion, while imports rose by 12.33 per cent to USD 17.41 billion. The United States accounted for approximately 20 per cent of India’s exports in the 2024–25 financial year.
PTI
Published: 03 Sept 2025, 09:27 pm IST
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