• Source:JND
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Finance Minister Nirmala Sitharaman on Thursday held a high-level inter-ministerial meeting to discuss possible export support measures for exporters to protect them against the impact of US tariffs, news agency PTI reported.

The meeting was attended by the senior officials from across the ministries, including finance, commerce, MSMEs, chemicals, textiles, and fisheries, they said.

The meeting was held as the additional 25 per cent tariff imposed on Indian goods by US President Donald Trump took effect today.

According to exporters, the most affected sectors would be labour-intensive, including shrimp, chemicals, leather, textiles and footwear, and gems and jewellery, as the Indian goods will become less competitive in the US market as compared to their competitor countries, including Bangladesh, Vietnam and Thailand. These countries are being subjected to lower tariffs.

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During the meeting, Sitharaman sought feedback from the senior officials and discussed the support measures that can be considered for exporters, the report stated.

Earlier in the day, the Union Commerce Ministry issued a statement saying that the government is making efforts to expedite the rollout of the Export Promotion Mission (EPM).

Earlier today, the apex exporters' body, Federation of Indian Export Organisations (FIEO), said that Sitharaman has assured that the government stands firmly with them.

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The government is addressing its concerns while exploring every possible avenue to safeguard their interests amidst high US tariffs. The FIEO apprised her of the challenges being faced by exporters due to the recent tariff escalations.

"The finance minister reassured the delegation that the government stands firmly behind Indian exporters in this hour. She emphasised that the government is committed to addressing all concerns of the exporting community and will explore every possible avenue to safeguard their interests," the FIEO said.

(With PTI Inputs)