India to offer ₹2,250cr support plan for exporters
India is stepping in with a ₹2,250 crore support plan for exporters after the US announced a steep 50% tariff on Indian goods starting August 27, 2024.
This move mainly affects big sectors like textiles and chemicals that send about $17 billion worth of products to the US in total (textiles: $11 billion; chemicals: $6 billion).
The goal? Help these industries stay competitive and cushion the blow from the new tariffs.
Exporters want easier loans and more
Exporters are asking for easier loans for small businesses, help with overseas warehouses, and more global branding.
They also want existing support schemes like RoDTEP and RoSCTL to continue.
Plus, there's talk about finding new markets outside the US and making trade rules simpler—so businesses can keep growing even as things get tougher abroad.