Piyush Goyal To Discuss Tariff Impact With Exporters Across Key Sectors From August 24

(MENAFN- KNN India) New Delhi, Aug 2 (KNN) In response to the United States' imposition of a 25 percent tariff on Indian imports, Commerce and Industry Minister Piyush Goyal will meet exporters across key sectors from August 2 to 4 in Mumbai, an industry official said on Friday.

The consultations will include representatives from food processing, textiles, engineering, chemicals, fisheries, IT, and pharmaceuticals.

A separate meeting with leather and footwear exporters is scheduled for August 4 in New Delhi, according to PTI.

The new tariff measure, announced by the US on Friday, could impact nearly half of India's USD 86.5 billion worth of exports to the American market.

Sectors such as pharmaceuticals, petroleum products, and electronics are expected to remain exempt from the duties.

Exporters from the affected sectors-particularly textiles and garments (USD 10.3 billion), gems and jewellery (USD 12 billion), shrimp (USD 2.24 billion), leather and footwear (USD 1.18 billion), animal products (USD 2 billion), chemicals (USD 2.34 billion), and electrical and mechanical machinery (around USD 9 billion)-have urged the government for urgent relief measures to mitigate losses.

“We request immediate government intervention to offset this huge setback. Exporters have their back against the wall and will have to sell below cost to keep factories running and avoid mass layoffs,” said Sudhir Sekhri, Chairman, Apparel Export Promotion Council (AEPC).

India's total bilateral trade with the US reached USD 131.8 billion in FY25, with exports accounting for USD 86.5 billion and imports USD 45.3 billion. The US remains India's top export destination.

Despite the setback, India continues trade negotiations with the US in hopes of securing a broader agreement.

(KNN Bureau)

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