PMO Likely To Convene High-Level Meeting Tomorrow As Trump’s 50% Tariffs Set To Come Into Force
New Delhi : The Prime Minister’s Office will convene a high-level meeting on August 26 to review measures for Indian exporters facing the impact of higher tariffs in the United States, according to sources. Indian goods entering the US market will be subject to a 50% tariff after Washington doubled existing duties, heightening cost pressures on exporters.
The commerce and industry ministry has been consulting exporters and export promotion councils to understand the impact of the existing 25% levy, which firms say has already squeezed margins and reduced competitiveness. Policy options under discussion include targeted support for specific industries rather than broad, economy-wide measures.
Exporters had requested an Emergency Credit Line Guarantee Scheme (ECLGS), offering collateral-free working capital with government-backed risk cover. An official said that micro-firms have indicated sector-specific credit lines with collateral support are helpful. Cluster-based working capital funds are also under active consideration to ease liquidity pressures.
Tuesday’s meeting is expected to finalise the contours of India’s response as exporters prepare for the tariff increase. The government’s move comes amid growing concerns that the 50% US tariff could further strain margins for Indian exporters, disrupt supply chains.
