FM pledges support, vows to safeguard traders' interests amid US tariffs

Finance Minister Nirmala Sitharaman on Thursday assured an exporters' delegation that the government stands firmly with them in this challenging time and is committed to addressing their concerns, while exploring every possible avenue to safeguard their interests amidst high US tariffs, FIEO said in a statement.

The assurance was given to a delegation of the Federation of Indian Export Organisations (FIEO) led by its President S C Ralhan.

They apprised her of the challenges faced by Indian exporters due to the recent escalation of tariffs imposed by the United States.

During the interaction, Ralhan said he highlighted the immediate concerns of the exporting community, particularly the adverse impact of higher tariffs on market access, competitiveness, and employment generation. He underscored the need for quick and calibrated policy measures to mitigate the strain on India's exporters, who have been key drivers of growth and job creation.

"The Finance Minister reassured the delegation that the government stands firmly behind Indian exporters in this hour. She emphasized 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.

It said that the minister also underlined the importance of protecting workers' livelihoods, calling upon industry leaders to reassure employees of job continuity even amidst global headwinds.

"She affirmed that the government will extend comprehensive support to exporters to sustain growth momentum and uphold India's resilience in international trade," it added.

The US has imposed a steep 50 per cent tariff on Indian goods entering Washington from August 27. It will affect export of certain labour-intensive sectors such as textiles, shrimp, gems and jewellery and leather and footwear.