India gears up to tackle Trump's 25% tariff on exports
When former US President Donald Trump slapped a 25% tariff on Indian exports, India didn't waste any time.
The commerce department, led by Rajesh Agarwal, jumped into action and met with exporters to figure out next steps.
Exporters called for quick government support—like rolling out the export promotion mission from the Budget—to help soften the blow and keep business confidence up.
Exporters call for quick government support
To keep things moving, exporters suggested interest subsidies to maintain cash flow, plus faster GST refunds and duty drawback claims for better liquidity.
They also pushed for reforms in special economic zones so businesses can use their capacity more efficiently.
On top of that, there's a big push for an early trade deal with the US to reduce market uncertainty.
Talks are set to pick up again from August 25, aiming for solutions that work for both sides.