Prime Minister Narendra Modi and Donald Trump
The Government of India has recently given relief to the common people in GST. The government has abolished GST on many products, while there has been reduced on many products. This will directly benefit the general public. The Indian government is now working with the exporters struggling with Trump’s tariff. Preparations are being made by the Central Government to provide relief to exporters. According to government sources, some schemes can be announced to help the exporters of the sector affected by Trump’s tariff soon.
Since the imposition of 50 percent tariffs of Donald Trump, exporters have been facing challenges in the field of textile, jewelry and jewelery. Along with this, new challenges have also come in front of exporters associated with leather and footwear, agriculture, chemicals and engineering products and sea exports. This is the reason that the fans of exporters have been surrounded.
Government working on incentive package
The proposed schemes proposed by the government for relief will include the purpose of solving the liquidity problem of small exporters and reducing pressure on working capital. Also, it will be tried that the security of the jobs of the people working in these areas should be maintained. Exporters do not have trouble in continuing their production until they find a new market for their products.
Actually, the government is working on the incentive package in the same way, as was given to the MSME sector at the time of Kovid epidemic. At the same time, the government is also working on the Export Promotion Mission, which was announced in the budget.
Government will announce soon
It has already been clarified by the Government of India that they will not bow under any pressure. A few days ago, Minister Piyush Goyal also said that we are going to take some measures for exporters. This will give them relief. Along with this, the government will also provide all possible help in searching for new markets. It is now believed that the government can announce its new steps soon to combat Trump’s tariff.
America imposed 50 percent tariff on India
US President Donald Trump imposed 25 percent tariff on India in July. However, he later imposed an additional 25 percent tariff on India citing oil purchases from Russia. This is the reason that due to this heavy tariff, many sectors have had a direct impact. In many sectors, exports have been completely reduced, so demand has reduced in many places.