US Tariff: Nirmala Sitharaman Promises To Address Exporters' Concerns

New Delhi: Union finance minister Nirmala Sitharaman on Thursday assured an exporters’ delegation that the government stands firmly with them in this challenging time and is committed to addressing their concerns, while exploring every possible avenue to safeguard their interests amidst high US tariffs, FIEO said in a statement.

Indian exporters have apprised the finance minister of the challenges faced by them due to the recent escalation of tariffs imposed by the United States. Led by a delegation of the Federation of Indian Export Organisations (FIEO), president SC Ralhan said that he highlighted the immediate concerns of the exporting community, particularly the adverse impact of higher tariffs on market access, competitiveness, and employment generation.

During the interaction, Ralhan also underscored the need for quick and calibrated policy measures to mitigate the strain on India's exporters, who have been key drivers of growth and job creation. “The finance minister reassured the delegation that the government stands firmly behind Indian exporters in this hour. She emphasised that the government is committed to addressing all concerns of the exporting community and will explore every possible avenue to safeguard their interests,” the FIEO said.

The US has imposed a steep 50 per cent tariff on Indian goods entering Washington from August 27. It will affect export of certain labour-intensive sectors such as textiles, shrimp, gems and jewellery and leather and footwear.