In light of the possibility that the US may impose reciprocal tariffs, Commerce and Industry Minister Piyush Goyal will discuss trade-related matters with export promotion councils on Thursday, 13th March, according to an industry official.
According to the official, exporters are anticipated to bring up concerns on the potential bilateral trade agreement between the United States and India at the meeting.
The minister just returned from Washington after having trade discussions with his US counterparts, so the meeting takes on significance. The prospect of reciprocal tariffs from the US worries the exporting community since it may affect India’s shipments to America, its biggest trading partner.
However, industries like textiles, handicrafts, leather, and gems and jewellery would benefit if the US granted duty concessions to India under the proposed trade pact.
Sunil Barthwal, the Secretary of Commerce, informed a parliamentary panel on Monday that talks between the US and India are still ongoing and that no trade tariff agreement has been achieved thus far.
