Overview
- The US imposed reciprocal additional tariffs under a July 31 order, setting India’s rate at 25% on select goods including textiles, leather, marine products and engineering items.
- The government announced an export promotion mission worth Rs 25,060 crore for 2025–26 to 2030–31, featuring NIRYAT PROTSAHAN for affordable MSME trade finance and NIRYAT DISHA for quality, branding, logistics and market development support.
- The package includes a Credit Guarantee Scheme for Exporters offering Rs 20,000 crore in collateral‑free credit via NCGTC, alongside RBI relief through a debt repayment moratorium and longer export‑credit tenors.
- New Delhi is engaging Washington on a potential bilateral trade agreement and is advancing FTA talks with the EU, Peru, Chile, New Zealand and Oman while urging fuller use of existing pacts with Japan, Korea and the UAE.
- Officials are holding continuous consultations with exporters and industry groups, say the tariffs’ specific impact is hard to isolate at this stage, and report April–October exports to the US rising to $52.12 billion from $47.32 billion a year earlier.