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India plans new export boost after US tariff hike
Business
India is rolling out fresh export promotion guidelines after the US raised tariffs on some Indian goods, hitting key sectors like textiles and gems.
Announced Tuesday, these new rules are part of a ₹25,060 crore Export Promotion Mission and will first cover schemes like Interest Equalization and Market Access.
What's next for exporters?
More detailed instructions for the rest of the export mission will drop by January 15—giving businesses time to prep before the new financial year.
The US tariff hike (up to 50% since August) has already caused Indian exports to the US to dip by nearly 9% in October.
To help soften the blow, India is also talking with the US about a trade deal that could ease some of these pressures.