“Don’t panic, take a look at the silver lineup,” the Minister of Trade and Industry of the Union, Piush Naked, told Indian exporters on Wednesday, as he led high -level discussions with the advice on export promotion and bodies in Delu Delhi industry in conditions of growing trade tensions.
The meeting came just days after US President Donald Trump introduced an additional duty of 26%of Indian products, along with stricter tariffs for China (104%), Vietnam (46%), Indonesia (32%) and Thailand (36%). The new duties came into force on April 9, regarding sectors such as shrimp, carpet, medical devices and gold jewelry.
Addressing industry leaders, Goyal praised exporters for their performance despite global heads. “Despite multiple heads, including the Red Sea crisis, the Israel-Hamas conflict is overflowing into the Gulf region, a continuation of the conflict in Russia-Ukraine and slow growth in some developed economies,” he said, “exporters showed elasticity and efforts,” marking almost 6% of the year.
Goyal assured the industry that the government is closely monitoring the development of the global trade environment and working “in a proactive way” to support Indian exporters. He said the team that formulates India’s position for the bilateral trade agreement (BTA) with the United States is “a research on the right mix and the right balance” and added: “We work at speed, but not in an unnecessary rush to provide a real outcome for the country.”
He attributed the ongoing BTA negotiations of “Predictability of Prime Minister Narendra Modi, who was one of the first global leaders to agree to BTA in his meeting with President Trump in February 2025.”
Goyal noted that different countries are responding to tariff changes in their ways, but said India could appear stronger. “There is the potential to increase production, create additional jobs because it can attract big players to the global supply chain because India has managed to establish itself as a trusted and reliable partner and a predictable business business destination.”
The meeting was attended by representatives of various councils to promote exports, industry bodies and trade officials and other line ministries. Exporters have raised concerns about the direct impact of new duties and demanded proactive measures from the government to mitigate the impact.
Despite a slowdown in Merchandise Exports –india’s outbound Shipments Stood at USD 395.63 Billion During April – February 2024–25, Almost Flat From The Previous Year – Services Exports Continued to Show Street. Rising to USD 354.90 Billion from USD 311.05 Billion in the Same Period Last Year,
Goyal confirmed the government’s commitment to provide a convenient trade environment. “Worke is working to provide a convenient environment to enable exporters to successfully move in recent changes to the global trade environment,” he said.
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