Maha Govt Will Explore New Markets In Wake Of US Tariffs: CM Fadnavis

(MENAFN- IANS) Mumbai, Aug 27 (IANS) Chief Minister Devendra Fadnavis on Wednesday said that the Maharashtra government has established a war room to review the situation arising from the US government's move to impose a 50 per cent tariff on India, effective from August 27.

“The government will make all efforts to convert the present crisis into an opportunity by exploring new market options. When one path is shut, many other paths open. We have kept our eyes open for new opportunities. We will take this challenge as a new opportunity,” claimed the Chief Minister while speaking to reporters at his official residence, Varsha, after performing Pooja on the occasion of Ganesh Chaturthi.

He further added that the government has opened a war room to look for increasing trade opportunities in other markets and make improvements to be ready for global competition, adding that the government has set a target of making nearly 100 improvements, which include efforts to reduce production costs and export products to other markets.

The Chief Minister's statement comes when the state government has already initiated discussions with the Union government to seek guidance to protect the interests of Maharashtra industries and employment to weather the US tariff shock.

He claimed that the state government is committed to safeguarding the interests of its industries and the economy.

The state government's move to swing into action to tackle the imposition of a 50 per cent tariff by the US is important as Maharashtra is the second-highest exporting state from India in FY 2023-24 with IRs 5.56 lakh crore exports, which is 15.37 per cent of total exports from India.

Of the Rs 5.56 lakh crore exports, the state's exports to the US were reported at Rs 111762 crore.

According to the state government data, the top five exporting districts from the state are Mumbai Suburban, Mumbai City, Pune and Thane, contributing 74 per cent of the state's total exports.

The top 10 importing countries from the US are the UAE, Hong Kong, Belgium, the UK, China, Italy, the Netherlands, Germany, and Mexico. Top export products from Maharashtra are pearls, precious and semi-precious stones; drug formulations/ biologicals; gold and other precious metals, jewellery; motor vehicles and cars; and iron and steel.

Meanwhile, the Chief Minister said that the Ganeshotsav Mandalas have responded positively to the Prime Minister Narendra Modi's appeal to showcase Operation Sindoor during the ongoing festival.

He further added that the self-reliant India and Swadeshi have also been projected by the Ganeshotsav Mandalas.

“In response to the appeal made by the Prime Minister to the country, the people have responded by accepting it as a people's movement,” he claimed.

On Shiv Sena UBT chief Uddhav Thackeray and his family visiting the cousin and Maharashtra Navnirman Sena Raj Thackeray's home for Ganapati Darshan, CM Fadnavis said that it is good that both brothers have come together.

“My Ganesha bless them with wisdom,” he said.

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