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US tariffs on Indian exports to hit jobs
Big news for Indian trade: starting August 27, new US tariffs will hit about two-thirds of India's $86.5 billion exports, putting $60.2 billion worth of goods under steep 50%+ duties.
Sectors like textiles, jewelry, and shrimp—key for jobs in places like Surat and Visakhapatnam—are especially vulnerable.
Suggestions to mitigate impact include tax reforms and interest support scheme
To soften the blow for small businesses, GTRI is calling for tax reforms and a ₹15,000 crore interest support scheme.
They also suggest improving refund programs to cut export costs and exploring new markets in the EU and Gulf countries.
Setting up "India+1" hubs in the UAE and Africa could also help keep India competitive despite these tough new tariffs.