India Eyes $25 Billion Export Push Amid Trump's Tariff Threats

Indian exporters seek Rs 750 crore over three years to harness a potential $25 billion in US exports due to anticipated tariffs on Chinese goods. FIEO President Ashwani Kumar emphasizes a marketing strategy aimed at capturing market share previously dominated by China.

In the wake of US President-elect Donald Trump's tariff threats on Chinese imports, Indian exporters are aspiring to seize a $25 billion export potential in the US. During a pre-budget meeting with Finance Minister Nirmala Sitharaman, the Federation of Indian Export Organisations (FIEO) requested an allocation of Rs 750 crore over three years to capitalize on these opportunities.

FIEO President Ashwani Kumar underscored the need for an India-focused marketing scheme alongside extending the Interest Equalisation Scheme. Kumar pointed to China's weakened grip on sectors like electronics, textiles, and toys as areas where Indian exports could grow significantly.

The exporters also highlighted challenges such as high domestic interest rates and diminishing export credit. They proposed measures for MSMEs, including funding increases and a 25% income tax slab for certain manufacturing units, to enhance their global competitiveness.

(With inputs from agencies.)