The Commerce Ministry has scheduled multiple sessions this week to engage with exporters across various industries, including chemicals, gems and jewellery. These discussions aim to explore new export markets as a response to shield industries from the substantial 50 per cent US tariffs on Indian products , according to an official's statement on Wednesday.
The official, quoted by PTI, confirmed that the development of the Export Promotion Mission, which was announced in the Budget for 2025-26, is making swift progress. "In the next 2-3 days, the ministry will meet stakeholders on the diversification of exports," the official added.
Also read: Indian refiners unlikely to stop Russia crude oil trade under US pressure
The significant 50 per cent tariff on Indian exports to the United States, effective from August 27, is expected to affect exports valued at over $48 billion.
The sectors most affected by the heightened import duties from the Trump administration include textiles/clothing, gems and jewellery, shrimp, leather and footwear, animal products, chemicals, and electrical and mechanical machinery.
Industries such as pharmaceuticals, energy products and electronic goods will most likely remain unaffected by these comprehensive duties.
The US represents approximately 20 per cent of India's total goods exports, which amounted to $437.42 billion in 2024-25.
Since 2021-22, the US has maintained its position as India's primary trading partner. The bilateral goods trade in 2024-25 reached USD 131.8 billion, comprising USD 86.5 billion in exports and USD 45.3 billion in imports.
The official, quoted by PTI, confirmed that the development of the Export Promotion Mission, which was announced in the Budget for 2025-26, is making swift progress. "In the next 2-3 days, the ministry will meet stakeholders on the diversification of exports," the official added.
Also read: Indian refiners unlikely to stop Russia crude oil trade under US pressure
The significant 50 per cent tariff on Indian exports to the United States, effective from August 27, is expected to affect exports valued at over $48 billion.
The sectors most affected by the heightened import duties from the Trump administration include textiles/clothing, gems and jewellery, shrimp, leather and footwear, animal products, chemicals, and electrical and mechanical machinery.
Industries such as pharmaceuticals, energy products and electronic goods will most likely remain unaffected by these comprehensive duties.
The US represents approximately 20 per cent of India's total goods exports, which amounted to $437.42 billion in 2024-25.
Since 2021-22, the US has maintained its position as India's primary trading partner. The bilateral goods trade in 2024-25 reached USD 131.8 billion, comprising USD 86.5 billion in exports and USD 45.3 billion in imports.
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