After US tariff, exporters want govt to raise outlay for support schemes

 

Exporters from several sectors have sought the government’s support in the form of higher budget outlays for export promotion schemes and a revival of a scheme to reduce the interest outgo on capex and working capital loans to remain competitive in the US market. The move comes in the wake of a tariff difference of 5-10% with the key countries competing with India in the US market, after the latest set of announcements by President Donald Trump. The President of Federation of Indian Export Organisations (FIEO), Mr S. C. Ralhan, was quoted as saying that if India wants to retain its presence in the US market, immediate steps will be needed to blunt the impact of 5% to 10% tariff difference. Support can come in the form of increased allocation to export promotion schemes and re-introduction of the Interest Equalisation Scheme (IES), as per a report.

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