India Hits Back: Modi Govt to Counter Trump’s 50% Tariff With Export Relief

New Delhi (The Uttam Hindu): The central government is preparing to bring a big relief package soon for the exporters troubled by the heavy tariff imposed by the US on Indian goods. According to the news received from sources, the government is working on a special plan to save those industries which have been most affected by this tariff.

According to reports, preparations are underway to provide immediate relief to sectors such as textile, gems and jewellery, leather and chemicals which are facing the brunt of the 50 percent tariff imposed by US President Donald Trump. This package is being prepared on the same lines as was given to the MSME sector to overcome the crisis during the Covid-19 pandemic. The main objective of the government is to save small exporters from cash crunch, avert the crisis on jobs and help find new international markets for Indian products.

Recently, America has imposed a huge tariff of 50 percent on many products coming from India. It is being told that 25 percent of this tariff has been imposed as a penalty for buying oil from Russia. Due to this decision, Indian exporters are on the verge of being out of competition in the international market.

Sources say that this relief package may include several announcements such as easy loans for small exporters, measures to reduce capital problems and financial assistance to continue production without interruption. Along with this, the government is also emphasizing on the rapid implementation of the 'Export Promotion Mission' announced in the budget, so that India's share in global trade can be further strengthened. This package will not only overcome the current crisis, but will also prepare Indian trade to fight such challenges in the future.