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Exporters brace for tariff tension
The New Indian Express Kannur
|April 02, 2025
Worried Punjab and Haryana manufacturers want govt to protect domestic industries
WITH Wednesday the rollout date for reciprocal tariffs announced by US President Donald Trump, manufacturers and exporters in Punjab and Haryana feel vulnerable and want the government to protect the domestic industry.
The president of the World MSE Forum, Badish Jindal, says the tariffs will affect auto parts, garments, hosiery, steel products, and fasteners.
In his view, India should "learn" from the US and protect "our interests."
Of the trade imbalance, Jindal said, "We import goods worth ₹50 lakh crore, including ₹9 lakh crore from China. Our exports to China are only ₹1 lakh crore. While our exports were ₹30 lakh crore last year, the trade deficit was ₹19.96 lakh crore; it may go up to ₹22 lakh crore now."
He feels "Pakistan and Bangladesh will benefit from the US tariffs as they are hosiery majors and giving us tough competition".
This story is from the April 02, 2025 edition of The New Indian Express Kannur.
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