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Goyal assures exporters to support them in dealing with steep tariffs imposed by US
Sep-04-2025

Commerce and Industry Minister Piyush Goyal has assured exporters to support them in dealing with steep tariffs imposed by the US. He also reaffirmed the government's commitment to safeguarding the interests of Indian exporters amid the evolving global trade scenario. He assured industry representatives that the government is actively engaged in creating an enabling environment to help exporters navigate recent challenges.

The minister urged exporters to upgrade product quality, align with global standards, diversify supply chains, and explore alternate markets. These issues were discussed during a meeting convened by the commerce ministry with representatives of export promotion councils (EPCs) and industry associations to address rising global tariffs, explore solutions, and chart a path forward amid shifting trade dynamics. He assured EPC and industry representatives that the government remains committed to providing a supportive ecosystem through ease of doing business initiatives, targeted trade support, and timely policy interventions to mitigate the impact of rising tariff measures.

The government is working on an export promotion mission. Rs 2,250 crore was budgeted for the mission. As part of the immediate or short-term response, the government is considering several steps to ease liquidity, prevent insolvencies, and provide greater flexibility for units in SEZs, and promote targeted import substitution. Meanwhile, snapping the two-month declining streak, India's exports rebounded by 7.29 per cent to $37.24 billion in July, while trade deficit widened to an eight-month high of $27.35 billion during the month. During April-July 2025-26, exports increased 3.07 per cent to $149.2 billion, while imports rose 5.36 per cent to $244.01 billion. The trade deficit during the first four months of 2025-26 was $94.81 billion. 


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