Conducive Environment
Commerce minister assures exporters of govt aid to navigate trade scenario
This story was originally published at 21:52 IST on 9 April 2025
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NEW DELHI - In a meeting with export promotion councils held Wednesday, Commerce Minister Piyush Goyal assured exporters that the government "will work to provide a conducive environment to enable them to successfully navigate the recent changes in the global trade environment," the ministry said in a release. The meeting comes as an aftermath of the current tariff war, triggered by US President Donald Trump's reciprocal tariffs that kicked in earlier during the day.
Washington announced tariffs against all major trading partners, calling it a 'Liberation Day' for the US, wherein the country slapped a 26?justed tariff on imports from India, even as bilateral trade talks continue.
According to the release, various export promotion councils, representing a wide array of sectors, presented their views and outlook in light of the emerging challenges in global trade and requested the government to take proactive measures to support the export industry in these challenging times.
Goyal told exporters that the team working on the bilateral trade agreement with the US is "exploring the right mix and the right balance" and so exporters should "not panic and look at the silver lining in the present scenario." Goyal added that the team is working with speed but not in undue haste to ensure the right outcome for the country.
The exporters fear that reciprocal tariffs imposed by the US are set to make import of goods more expensive in the country, along with a likely fall in demand. The US is India's top export market with a share of 19% in India's total outbound shipment. India's exports to the US may fall 6.4% on year, or $5.76 billion, in 2025 on account of the reciprocal tariffs, according to a study by the Global Trade Research Initiative.
India exported goods worth $76.38 billion to US in Apr-Feb and had a trade surplus of $34.75 billion.
Goyal, however, told exporters that there is potential for India to increase manufacturing, and creation of additional jobs as it can attract big players in the global supply chain. End
US$1 = 86.69 rupees
Reported by Priyasmita Dutta
Edited by Deepsikha Bhardwaj
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