The Ministry of Commerce is ready to meet with export promotion councils at 4:30 pm today, as exporters are caught back due to prevailing tariffs and business uncertainties.
The meeting, which will be really, will be the minister Pieush Goyal in appearing. The Ministry of Commerce sponsors 14 such councils, including Gem and Jewelery Export Promotion Council, Engineering Exports Promotion Council and Council for Leather Exports. All are expected to be in attendance on Thursday.
While the agenda of the meeting has not been published, the talks will probably move around issues such as mutual tariffs, proposed India-US BTA, high compliance burden around the rules of origin in foreign markets and to roam around the issues of supply chain due to the ongoing trade war, which according to the people, who speak on the condition of Namai.
Early trade indicators suggest that exporters can withdraw shipments, enhancing the possibility of further contractions in February trade data, beware of potential tariff shifts.
Earlier this week, sources told us that the government is also working on implementing an incentive of Rs 2,250 crore for exporters to address a decline in outbound shipments. It is intensifying the rollout of budget incentive with the aim of increasing export sectors.
Goyal is also likely to go to America soon to solve any concern of the US imposation of mutual tariffs.
(Tagstotransite) Ministry of Commerce (T) US Tariff
