Commerce Minister Piyush Goyal will meet exporters on April 9 to discuss the potential impact of the US imposing an additional 26% reciprocal tariff on Indian goods. The meeting will include top commerce ministry officials, export promotion councils, and FIEO representatives.
Exporters have urged the government to provide fiscal support, especially to MSMEs, and to offer interest subsidies to ease credit access. The new tariffs, set to affect trade from May, are expected to dampen demand in the US and globally due to rising costs.
The US is a key market, accounting for 18% of India’s goods exports. India’s merchandise exports stood at $395.63 billion from April to February 2024–25, nearly flat compared to the same period last year. Sectors like shrimp, carpets, medical devices, and gold jewellery are expected to be hit hardest.
