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RBI to meet exporters after Trump's tariff hike
The Reserve Bank of India (RBI) is planning to meet with exporters after American President Donald Trump slapped a 25% extra tariff on Indian goods, set to jump to 50% from Wednesday.
The move could disrupt shipments and hit Indian businesses hard, so the RBI wants to hear directly from exporters and figure out how best to help.
Over half of India's exports to US affected
About 55% of India's exports to the US—worth $86 billion last year—are now affected by these higher tariffs.
While big sectors like pharma and mobile phones are mostly safe, small and medium-sized enterprises (SMEs) could feel the pinch.
The RBI is looking for ways to support these vulnerable businesses so they can keep exporting despite the new hurdles.