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Economic Times
04-08-2025
- Business
- Economic Times
Govt working on support measures to insulate exporters from Trump tariff: Official
iStock Representative image New Delhi: The government is working on certain support measures for exporters in sectors like textiles and chemicals to insulate them from the impact of the Trump tariff, an official said on Monday. US President Donald Trump has announced an additional 25 per cent import duty on Indian goods entering America from August 7. The official said that the commerce ministry has held meetings with several export sectors, including steel, food processing, engineering, marine, and agriculture, to understand issues they may face due to high tariffs. Indian exporters from various sectors, including food, marine, and textiles, have sought financial assistance and affordable credit from the government to cope with the 25 per cent Trump tariff. Exporters are requesting the government to extend fiscal incentives such as interest subsidy and extension of RoDTEP scheme (Remission of Duties and Taxes on Exported Products), RoSCTL (Rebate of State and Central Taxes and Levies), timely payment of dues, and a direct shipping line to the US. The ministry is considering these demands, the official said, adding that the ministry will also engage with states to support the exporters. The sectors, which would be impacted by the high tax of the US, include textiles/ clothing, gems and jewellery, shrimp, leather and footwear, chemicals, and electrical and mechanical machinery. Sectors such as certain textile items, chemicals and shrimp are at a more disadvantageous position because India's competitor nations, including Bangladesh (20 per cent), Vietnam (20 per cent) and Thailand (19 per cent), have lower duties, an exporter said. Another exporter said that the US is a major export destination for Indian shrimp. "Now the exporters should explore new markets such as the UK, China and Japan," the exporter added. Electronics, including smartphone exports, are recording healthy growth in the US despite uncertainties.
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Business Standard
04-08-2025
- Business
- Business Standard
Govt working on measures to insulate exporters from Trump tariff: Official
The government is working on certain support measures for exporters in sectors like textiles and chemicals to insulate them from the impact of the Trump tariff, an official said on Monday. US President Donald Trump has announced an additional 25 per cent import duty on Indian goods entering America from August 7. The official said that the commerce ministry has held meetings with several export sectors, including steel, food processing, engineering, marine, and agriculture, to understand issues they may face due to high tariffs. Indian exporters from various sectors, including food, marine, and textiles, have sought financial assistance and affordable credit from the government to cope with the 25 per cent Trump tariff. Exporters are requesting the government to extend fiscal incentives such as interest subsidy and extension of RoDTEP scheme (Remission of Duties and Taxes on Exported Products), RoSCTL (Rebate of State and Central Taxes and Levies), timely payment of dues, and a direct shipping line to the US. The ministry is considering these demands, the official said, adding that the ministry will also engage with states to support the exporters. The sectors, which would be impacted by the high tax of the US, include textiles/ clothing, gems and jewellery, shrimp, leather and footwear, chemicals, and electrical and mechanical machinery. Sectors such as certain textile items, chemicals and shrimp are at a more disadvantageous position because India's competitor nations, including Bangladesh (20 per cent), Vietnam (20 per cent) and Thailand (19 per cent), have lower duties, an exporter said. Another exporter said that the US is a major export destination for Indian shrimp. "Now the exporters should explore new markets such as the UK, China and Japan," the exporter added. Electronics, including smartphone exports, are recording healthy growth in the US despite uncertainties. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
04-08-2025
- Business
- Time of India
Govt working on support measures to insulate exporters from Trump tariff: Official
New Delhi: The government is working on certain support measures for exporters in sectors like textiles and chemicals to insulate them from the impact of the Trump tariff, an official said on Monday. US President Donald Trump has announced an additional 25 per cent import duty on Indian goods entering America from August 7. Explore courses from Top Institutes in Please select course: Select a Course Category Data Analytics Design Thinking Finance MCA Product Management Leadership Others Artificial Intelligence Digital Marketing Project Management Public Policy MBA Data Science others Degree Operations Management PGDM Management Healthcare CXO healthcare Data Science Technology Cybersecurity Skills you'll gain: Data Analysis & Visualization Predictive Analytics & Machine Learning Business Intelligence & Data-Driven Decision Making Analytics Strategy & Implementation Duration: 12 Weeks Indian School of Business Applied Business Analytics Starts on Jun 13, 2024 Get Details The official said that the commerce ministry has held meetings with several export sectors, including steel, food processing, engineering, marine, and agriculture, to understand issues they may face due to high tariffs. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If You Find These Bugs in Al Shatra, Do Something Immediately Undo Indian exporters from various sectors, including food, marine, and textiles, have sought financial assistance and affordable credit from the government to cope with the 25 per cent Trump tariff. Exporters are requesting the government to extend fiscal incentives such as interest subsidy and extension of RoDTEP scheme (Remission of Duties and Taxes on Exported Products), RoSCTL (Rebate of State and Central Taxes and Levies), timely payment of dues, and a direct shipping line to the US. Live Events The ministry is considering these demands, the official said, adding that the ministry will also engage with states to support the exporters. The sectors, which would be impacted by the high tax of the US, include textiles/ clothing, gems and jewellery, shrimp, leather and footwear, chemicals, and electrical and mechanical machinery. Sectors such as certain textile items, chemicals and shrimp are at a more disadvantageous position because India's competitor nations, including Bangladesh (20 per cent), Vietnam (20 per cent) and Thailand (19 per cent), have lower duties, an exporter said. Another exporter said that the US is a major export destination for Indian shrimp. "Now the exporters should explore new markets such as the UK, China and Japan," the exporter added. Electronics, including smartphone exports, are recording healthy growth in the US despite uncertainties.
The Hindu
08-07-2025
- Business
- The Hindu
Awareness programme held for garment exporters in Tiruppur
The Federation of Indian Export Organisations organised an awareness programme on Tuesday for garment exporters in Tiruppur on export benefit schemes of the Central government. The half-day programme, 'Seminar on Exim Trade – Schemes and Incentive Under Customs and DGFT / Foreign Policy', was to explain to the exporters the schemes and how they should apply to get the benefits. K.M. Subramanian, president of the Tiruppur Exporters' Association, said at the meeting that the AEPC and the Association had submitted data-supported representations to the government and sought revision of drawback rates and RoSCTL rates. Tiruppur contributed nearly 68% of the country's knitwear exports. In 2024–2025, Tiruppur registered export turnover of ₹45,000 crore, which is 25% more than the previous financial year. The Tiruppur exporters have an ambitious target to grow at 15% annually and touch ₹1 lakh crore exports by 2030. With favourable trade agreements and global demand for sustainable and ethical sourcing, the industry is confident of meeting the goal, he said.
Time of India
12-06-2025
- Business
- Time of India
Task force on textiles exports sets collaborative roadmap to boost India's global market share
The Ministry of Commerce & Industry held the inaugural meeting of the Task Force on Textiles Exports under the chairmanship of Commerce Secretary Sunil Barthwal at Vanijya Bhawan on June 10. The high-level meeting marked a significant step toward building a collaborative framework aimed at enhancing India's share in global textile exports, the ministry said in an official release. The newly formed Task Force is envisioned as a unified platform to address critical challenges in the textile sector, foster stakeholder engagement, and develop actionable strategies to boost exports across the textile value chain. The discussions at the meeting were comprehensive, covering a wide range of policy and operational issues. Key focus areas included: Upgrading ESG infrastructure in garment units Promoting renewable energy use Addressing EU Deforestation Regulation (EUDR) compliance Expanding e-commerce channels for textile exports Simplifying regulatory frameworks, improving labour productivity, and enhancing cost competitiveness Focused support for MSME exporters, including export credit, certification, and testing support Scheme-related suggestions on RoDTEP, RoSCTL, and Duty Drawback Promotion of PM MITRA Parks, jute diversified products, separate HS codes for GI products, and natural fibre productivity The meeting was attended by senior officials including Special Secretary Rajesh Agrawal, Special Secretary L Satya Srinivas, FA Arti Bhatnagar, DGFT Ajay Bhadoo, and Additional Secretary (Textiles) Rohit Kansal, along with representatives from related departments, Export Promotion Councils (EPCs), industry associations, and leading exporters. Exporters and council members shared critical insights and provided recommendations for sectoral improvement. Based on these deliberations, the Chair directed that sub-task forces be formed on key thematic areas. Each sub-task force will be led by the concerned ministry and will include members from EPCs and industry stakeholders. Their mandate will be to deliver practical, time-bound recommendations to the main Task Force. The meeting concluded with a shared commitment to advancing India's textile export goals in alignment with the Viksit Bharat Vision 2047 , reinforcing the government's resolve to position India as a global textile powerhouse.
