Exporters Fear U.S. Tariff Impact on High-Volume Market

• Exporters of textiles, garments, and engineering goods are concerned about the 25% U.S. tariff.

• The tariff could lead to loss of orders and high-volume demand for certain products.

• Union Minister for Commerce and Industry Piyush Goyal met with textile and engineering export councils to discuss the potential impact of the tariff.

• Textile exporters, who export 60% to 70% of their products to the U.S., argue that losing U.S. buyers will severely impact firms supplying these products.

• Engineering goods exporters also express concern about the difficulty of finding new markets that offer similar volume orders.

• Delegations suggest reintroducing the interest subvention scheme to help Indian exporters, mainly micro, small, and medium-scale enterprises, avoid higher cost disadvantages due to tariffs.

• Exporters have also requested a moratorium on loan repayment to supply at competitive prices to U.S. buyers.