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Relief package for MSMEs likely as US tariffs hit exports
The government is expected to approve a financial-support package today to support micro, small, and medium enterprises (MSMEs) affected by steep 50% US tariffs on exports like textiles, gems, jewelry, leather, footwear, and chemicals.
The plan includes easier access to government-backed loans and better credit options to help these businesses stay afloat.
Direct income support for workers may be included
These new tariffs are especially tough for MSMEs and already operate on tight margins.
The relief package backs up the ₹25,000 crore Export Promotion Mission from this year's Union Budget and could even include direct income support for workers.
With jobs and the future of many small businesses on the line, quick action is crucial to keep India's export engine running strong.