Tariff-hit exporters can tap local retail market, says Goyal

Goyal pointed out that the duty revision in textile will bring major relief to exporters expected to be hit by US tariffs

- Dhirendra Kumar

The big-ticket financial reforms starting with the overhaul of the goods and services tax (GST) are a calibrated step to boost the manufacturing sector and help all sections of the industry, according to Union commerce minister Piyush Goyal.

In an interview with Mint, Goyal said exporters will also benefit as stronger local demand would create opportunities for domestic industries and those catering to global markets. "Those exporters who have been affected by actions of other countries will also get a chance to tap the retail market. We are already working to promote new markets and products," Goyal said, adding that the Export Promotion Mission is progressing and he may take proposals to Cabinet soon.