PM meets exporters from labour-intensive sectors

PRIME MINISTER NARENDRA Modion Monday met exporters from sectors hit by the additional 50% duties imposed by the US to discuss measures for enhancing their competitiveness, sources said.

- FE BUREAU

Finance Minister Nirmala Sitharaman and Commerce Minister Piyush Goyal were also present in the meeting.

Representatives of sectors such as apparel and garments, leather, engineering, marine products, handicrafts, and gems and jewellery attended the meeting.

The meeting came against the backdrop of a decline in exports to the US from these sectors in September. What exactly transpired in the meeting, which was held late in the day, could not be immediately ascertained.

The government has indicated that exporters will be given some succourin the wake of the hefty US tariffs, but it wants to gauge export trends before determining the exact details of the package. At the same time, government sources have indicated that a trade deal may be around the corner with the Donald Trump administration, which could bring down the “reciprocal” tarifflevels to 15-20%.