Package for exporters on the anvil to mitigate US tariffs, says FM

The government is working on a comprehensive package to support Indian exporters impacted by the steep 50% tariff imposed by the US, said Finance Minister Ms Nirmala Sitharaman. A multi-departmental engagement is underway to assess the impact on Indian shipments. Various industries have been sharing the impact with the concerned departments or ministries after the second part (25%) of the tariff kicked in from August 27. The government is getting their inputs, and something is being worked out to do some hand-holding for those exporters who have been affected. The tariffs include a 25% penalty for buying crude oil from Russia, as per a report.

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