New Delhi (TIP)- The Centre may partially compensate exporters for their US shipments under Donald Trump’s punitive tariff regime, three people aware of the discussions said.
With the dawn of steep tariffs, Indian exporters are compelled to reduce prices to stay competitive, which makes a direct hit on their business. The government is now looking to bear 10-15% of the price cuts to help exporters stay in the game, the people cited above said on the condition of anonymity.
The relief, limited to US-bound consignments, will remain in force until the issue is settled through trade talks, which have been delayed but remain under discussion.
The proposal is being coordinated between the ministries of finance and commerce to address the mounting pressure on manufacturers and exporters, particularly those in labour-intensive sectors, which are struggling to execute confirmed orders. The Centre may support some of the affected sectors with 10-15% for the price sacrifice they make to keep their US business going, one of the two people cited above said, though the sectors had asked for even higher support. This aid will help exporters continue to execute their orders and keep the manufacturing process going, the person added.
Given that US importers must pay tariffs on goods imported from India, they are asking their Indian suppliers to reduce prices to compensate for the tariff burden, exporters have said. However, doing so would be an additional burden to the Indian exporter.
The matter was discussed in separate meetings held on Thursday with finance minister Nirmala Sitharaman and commerce minister Piyush Goyal, where stakeholders highlighted the challenges in meeting deadlines for the upcoming spring season.
The government has assured that there is no need to worry about the possible impact of the US tariffs on Indian goods exported to the US, stating the issue is being closely looked at.
The relief package is being explored for labour-intensive goods such as textiles, gems and jewellery, engineering goods, leather and footwear, seafood, among others, the people cited earlier said. “The finance minister sounded positive, stressing that exporters will not be left to face the storm on their own. While she didn’t reveal what specific measures the government is taking, she assured that the government is seized of the matter and will step in to provide support,” said Pankaj Chadha, chairman, Engineering Export Promotion Council. “The 50% tariff undeniably dents cost competitiveness, but it also pushes Indian manufacturers to think beyond pricing. For us, the way forward is twofold-strengthening technology and design leadership so clients see value in performance, and building diversified global linkages that reduce overdependence on any one market,” said Sarvadnya Kulkarni, chief executive officer of General Instruments Consortium, an engineering company. Queries sent to the spokespersons of the Prime Minister’s Office, and the ministries of finance and commerce remained unanswered.
According to a report by Global Trade Research Initiative, the damage could be substantial if the tariff remains in place for long. Once competitors gain ground in the US market, it will be very difficult for Indian exporters to reclaim lost space, and New Delhi will need to step up its engagement with Washington, it stated. Countries such as China, Vietnam, Mexico, Turkey, and even Pakistan, Nepal, Guatemala and Kenya stand to benefit from the US action, potentially locking India out of key markets even after the tariffs are rolled back.
As reported by Mint on 21 August, New Delhi is also exploring the possibility of joining China-led Regional Comprehensive Economic Partnership to mitigate potential losses arising from supply chain disruptions amid strained trade relations with the US.
On Wednesday, Aug 27, Peter Navarro, a top aide to US president Donald Trump, characterized the Russia-Ukraine conflict as “Modi’s war,” arguing that India’s continued purchase of discounted Russian oil is funding Moscow’s military efforts. He also criticized India for its high tariffs and for “getting in bed with authoritarians” by aligning with Russia and China.
“India, you are getting in bed with authoritarians. China invaded Aksai Chin and all your territory. They are not your friends. And Russia? Come on!” Navarro told Bloomberg Television in an interview.
Understanding a wallet means looking beyond its appearance to the way it handles keys, transactions and account recovery.
A reference for further reading about digital wallets and the terminology used to describe their different approaches to custody.
A cryptocurrency reference collection for further reading, independent of Bitcoin.com and any wallet or exchange provider.
Bitcoin and cryptocurrency are related terms, but they are not interchangeable. Clear definitions make further reading more useful.
A reading theme about recognizing impersonation, checking website addresses and evaluating unexpected cryptocurrency messages.
Read about blockchain concepts with attention to the specific network being discussed and the assumptions behind each explanation.
Cryptocurrency education benefits from careful reading, source checks and a willingness to separate explanations from promotional claims.
Cryptocurrency learning is an ongoing process of refining definitions, checking examples and revisiting earlier assumptions.
Explore cryptocurrency as a subject of study, with attention to sources, technical explanations and the context behind each claim.
Understanding the broader Bitcoin ecosystem means examining both network concepts and the services people encounter around them.
Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
Hi there, You have done an excellent job. I will definitely digg it and individually suggest to my friends. I am confident they’ll be benefited from this website.
Wow that was strange. I just wrote an very long comment but after I clicked submit my comment didn’t appear. Grrrr… well I’m not writing all that over again. Regardless, just wanted to say fantastic blog!
Aw, this was a very nice post. Taking a few minutes and actual effort to generate a superb article… but what can I say… I hesitate a lot and never manage to get anything done.
Aw, this was an exceptionally nice post. Taking a few minutes and actual effort to generate a top notch article… but what can I say… I hesitate a whole lot and never manage to get nearly anything done.
Hey there, You’ve performed a fantastic job. I’ll certainly digg it and personally recommend to my friends. I am sure they will be benefited from this web site.
Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
Hello there, You have performed an incredible job. I will definitely digg it and in my opinion suggest to my friends. I am confident they will be benefited from this site.
Hello there, You’ve done an excellent job. I will definitely digg it and in my view recommend to my friends. I am confident they will be benefited from this web site.
Excellent post. Keep writing such kind of information on your site. Im really impressed by your site.
May I simply just say what a comfort to discover an individual who truly understands what they’re talking about on the net. You certainly realize how to bring an issue to light and make it important. More and more people need to read this and understand this side of the story. I can’t believe you are not more popular given that you certainly have the gift.
At this time it appears like WordPress is the best blogging platform available right now. (from what I’ve read) Is that what you are using on your blog?
May I simply just say what a relief to discover an individual who genuinely understands what they are discussing on the net. You actually know how to bring a problem to light and make it important. More people really need to look at this and understand this side of your story. It’s surprising you’re not more popular because you definitely possess the gift.
Excellent post. Keep writing such kind of info on your page. Im really impressed by your blog.
Greate pieces. Keep posting such kind of info on your page. Im really impressed by it.
Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
May I simply say what a comfort to uncover somebody who genuinely understands what they are talking about over the internet. You definitely realize how to bring a problem to light and make it important. More and more people should check this out and understand this side of the story. I was surprised that you are not more popular since you definitely possess the gift.
Aw, this was a very nice post. Spending some time and actual effort to create a really good article… but what can I say… I procrastinate a lot and never manage to get nearly anything done.
Hi there, You have performed a great job. I’ll definitely digg it and in my view recommend to my friends. I’m confident they will be benefited from this web site.
At this time it looks like Movable Type is the best blogging platform out there right now. (from what I’ve read) Is that what you are using on your blog?
Right now it looks like Drupal is the preferred blogging platform available right now. (from what I’ve read) Is that what you are using on your blog?
Aw, this was an exceptionally good post. Taking the time and actual effort to produce a good article… but what can I say… I hesitate a lot and never seem to get nearly anything done.
Right now it looks like BlogEngine is the top blogging platform available right now. (from what I’ve read) Is that what you are using on your blog?
Aw, this was an incredibly good post. Taking a few minutes and actual effort to generate a top notch article… but what can I say… I hesitate a whole lot and don’t manage to get nearly anything done.
Currently it appears like BlogEngine is the preferred blogging platform available right now. (from what I’ve read) Is that what you’re using on your blog?
Currently it appears like Movable Type is the top blogging platform available right now. (from what I’ve read) Is that what you’re using on your blog?
Aw, this was a very nice post. Taking the time and actual effort to make a great article… but what can I say… I hesitate a lot and don’t manage to get nearly anything done.
Wow that was unusual. I just wrote an really long comment but after I clicked submit my comment didn’t appear. Grrrr… well I’m not writing all that over again. Anyhow, just wanted to say excellent blog!
Excellent post. Keep writing such kind of info on your site. Im really impressed by your blog.
Excellent pieces. Keep writing such kind of information on your page. Im really impressed by it.
Right now it sounds like Expression Engine is the best blogging platform out there right now. (from what I’ve read) Is that what you are using on your blog?
Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.