Lend a helping hand

With millions of jobs at stake due to US tariffs, small exporters need a govt bailout package

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With the 50% tariffs on export of goods to the US coming into effect, lakhs of India's exporting units are staring at a bleak future. Smaller ones, especially in sectors like textiles, gems and jewellery, and footwear which are heavily dependent on the US market, may have no option but to down their shutters. After all, the US accounts for more than 30% of exports from these sectors. Exports of seafood are also vulnerable to a demand shock—the US imported 37% of India's total seafood exports of $7.5 billion in FY25.

Indeed, the consequences for millions of workers could be dire since it will be hard for owners of exporting firms to retain them in the absence of any business.