India's Exporters Brace for 26% US Tariff Impact

Commerce Minister Piyush Goyal will meet with Indian exporters to discuss the impact of new 26% US tariffs. Exporters worry about reduced demand from the US, a key trade partner. Indian export sectors, including shrimp and gold jewellery, are likely to be particularly affected by these changes.

Commerce and Industry Minister Piyush Goyal is set to convene a crucial meeting with exporters to address the challenges posed by the newly imposed 26% reciprocal tariffs by the US, under President Donald Trump's administration. The meeting aims to delve into the repercussions for India's trade environment.

Attendance will include senior officials from the commerce ministry, alongside representatives from export promotion councils and the Federation of Indian Export Organisations. The discussion will center on identifying both challenges and potential opportunities arising from these developments.

The US accounts for a significant 18% of India's total goods exports, making it a vital partner. Exporters express concern over a possible dip in US demand, with key sectors like shrimp, carpet, medical devices, and gold jewellery expected to feel the pinch of the heightened duties.

(With inputs from agencies.)