Govt stepping up efforts to help exporters; working group to monitor possible import surge

THE commerce ministry is stepping up efforts to help exporters explore new markets to push out-bound shipments while also setting up a working group to monitor possible surge in imports from countries like China to tackle the impact of sweeping tariffs announced by the US, a source said.

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The ministry is also fast-tracking formulation of its export promotion mission to support exporters in areas such as providing credit at affordable rates; and negotiations of proposed free trade agreements with the European Union, Oman, New Zealand and the UK.

Additionally, concerned officials have been directed to hold a series of bilateral meetings with the identified 20 countries such as Australia, Brazil, China, and France for pushing India's exports.

These developments come at a time when exporters and industries have raised concerns that the additional 26 per cent import duty imposed by the US on India may hurt them.