A new Delhi (PTI) union Commerce and Industry Minister Piyush Goyal may meet with exporters on Wednesday, April 9 as the Trump administration imposes another 26% stock-peer tariffs and therefore faces problems facing Indian businessmen, an industry official said.
Senior officials from the Ministry of Commerce and representatives from the Council for the Promotion of Export (EPCS) and the Federation of Export Organizations of India (FIEO) will participate in the deliberation, the industry official said.
Meanwhile, one exporter said that in this case, the government should step up to expand fiscal incentives to all exporters, especially MSMES, because U.S. tariffs will have an impact on shipments in the country.
The impact of these responsibilities is expected to be reflected from the beginning in the possibility that the United States may be hit.
“The increase in responsibilities in all countries around the world will have an inflationary impact on U.S. customers. It will trigger demand for all types of goods not only in the United States, but also in the rest of the world,” one exporter said.
The exporter added that interest subterms should be provided to all exporters in order to provide credit at preferential rates.
The United States accounts for about 18% of India’s total goods exports, with imports of 6.22%, and imports from bilateral trade are about 10.73%. Exports fell in the fourth month of February due to global economic uncertainty.
India’s commodity exports were US$3956.3 billion from April 25, 2024 to 25, compared with US$395.38 billion in the same period. As of April 5, 2025, the estimated value of service exports was US$354.9 billion, compared with US$31.15 billion from April to 24, 2023.
India’s export sectors such as shrimp, carpets, medical equipment and gold jewelry will face the impact of a 26% import tariff announced by the United States.
