Government in action before 50 percent trump tariffs on India become effective, PMO’s big meeting today

Us high tarifs: The new rates of American tariffs over India will be effective from August 27. In this, 25 percent base tariff is already applicable, while 25 percent of additional tariffs have been imposed on India as a penalty due to purchasing oil from Russia at cheap prices. According to the news of Business Standard, a high -level meeting is going to be held on Tuesday by the Prime Minister’s Office to assess the impact of the US High Tariff and review the steps. This meeting can be chaired by the Principal Secretary of the Prime Minister.

Government in action before 50% tariff

According to reports, the impact of the US tariff on Indian exports and its measures will be reviewed during this meeting. The Ministry of Commerce and Industry is already consulting with the Indian Exports and Export Promotion Council in this regard.

While 50 percent of the American tariffs on Indian goods will be reduced by the exports of exports, on the other hand, they will not be able to compete in the US market in important areas like clothes, leather, chemicals and engineering goods.

Amid the concerns of Indian exports and American tariffs, the Indian government has moved to Russia as well as other new markets. Apart from this, big announcements have already been made by the Central Government to spend domestic goods and boost the economy. Also, many other steps are being considered by the government to help exports.

Government serious on exporters’ concerns

A senior Commerce Ministry official said, “The government is completely serious about the export sector. It is our priority to search and domestic consumption for alternative markets to deal with the challenges that have come out of the American tariff.”

At the same time, industry experts believe that in view of the pressure of American tariffs, Indian companies will have to pay more attention to the quality and cost-entry of the products. A advisor to the Indian Export Organization said, “India has a big opportunity to strengthen its hold in markets like Africa, Latin America and South-East Asia.”

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