India to offer relief package for exporters hit by US tariffs
India is looking to roll out a relief package for exporters hit hard by the 50% US tariffs introduced in August.
These high tariffs have put Indian goods—especially textiles and jewelry—at a disadvantage compared to countries like Vietnam and Bangladesh, making it tougher for local businesses to compete globally.
What the government is doing to help exporters
The government is considering collateral-free loans and lower interest rates to help exporters manage cash flow, with ₹2,250 crore ($255 million) set aside in this year's budget.
There's also talk of expanding support up to ₹25,000 crore over six years.
Plus, India wants to help businesses tap into new markets in Africa and Latin America by offering guidance on branding and packaging—so they're not so dependent on the US market going forward.