PM Modi Engages Exporters as India Seeks New Markets Amid US Tariff Surge
Prime Minister Narendra Modi convened a high-level meeting with major export associations on Monday to assess the impact of steep US tariffs and explore strategies to protect India’s trade competitiveness. Labour-intensive sectors such as textiles, leather, engineering goods, and marine products faced the harshest hit from a 50 percent tariff burden, raising concerns in politically significant manufacturing hubs across Tamil Nadu, Gujarat, and Bihar.
Industry representatives — including those from the gems and jewellery, seafood, engineering, and apparel sectors — urged the government to ease credit access, expedite customs clearances, and implement pending reforms in SEZ and trade regulations. As reliance on the US market becomes riskier, the government has encouraged exporters to diversify into Europe, West Asia, and Africa. Officials remain optimistic that upcoming Free Trade Agreements with the EU, New Zealand, and Chile could help open new trade channels.
Export bodies also highlighted domestic challenges like high logistics and capital costs, as well as complexities from Quality Control Orders and GST input tax mismatches. The Commerce Department is reportedly finalising the “Export Mission 2025,” a blueprint to reduce structural inefficiencies and restore export momentum — a move expected to be rolled out in the coming weeks.
Pic Courtesy: google/ images are subject to copyright
