Centre To Mitigate Impact of High US Tariffs Through Multi-pronged Strategy
“The government is also engaged in negotiations for early conclusion of mutually beneficial free trade agreements (FTAs) with the EU, Peru, Chile, New Zealand, and Oman,” the minister said
New Delhi: In a move to protect India’s small businesses and local traders from the US tariffs, the government on Tuesday said it is working to mitigate the impact of such high tariffs on the country's exports through a multi-pronged strategy including intensive engagement with America for a mutually beneficial trade pact.
In a written reply to the Lok Sabha, minister of state for commerce and industry Jitin Prasada said it is expected that these measures will also enhance diversification and resilience in India’s trade relationships. “The government is also engaged in negotiations for early conclusion of mutually beneficial free trade agreements (FTAs) with the EU, Peru, Chile, New Zealand, and Oman,” the minister 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, immediate relief through trade relief measures of RBI, credit guarantee scheme for exporters,” he said.
In a separate reply on e-commerce, he also said that agentic shopping is one such technological innovation where shopping is powered by intelligent AI agents capable of anticipating, personalizing, and automating every step of the online shopping process. “The impact of this AI-driven shopping is presently prevalent in the digital commerce space,” he added.
