Donald Trump tariffs: Commerce Ministry to hold discussions with exporters; diversification of exports in focus

The Commerce Ministry has scheduled a number of classes this week to interact with exporters throughout numerous industries, together with chemical compounds, gems and jewelry. These discussions goal to discover new export markets as a response to protect industries from the substantial 50 per cent US tariffs on Indian merchandise, in accordance to an official’s assertion on Wednesday.The official, quoted by PTI, confirmed that the event of the Export Promotion Mission, which was introduced in the Budget for 2025-26, is making swift progress. “In the next 2-3 days, the ministry will meet stakeholders on the diversification of exports,” the official added.Also learn: Indian refiners unlikely to cease Russia crude oil commerce below US strainThe vital 50 per cent tariff on Indian exports to the United States, efficient from August 27, is predicted to have an effect on exports valued at over $48 billion.The sectors most affected by the heightened import duties from the Trump administration embrace textiles/clothes, gems and jewelry, shrimp, leather-based and footwear, animal merchandise, chemical compounds, and electrical and mechanical equipment.Industries reminiscent of prescribed drugs, vitality merchandise and digital items will most definitely stay unaffected by these complete duties.The US represents roughly 20 per cent of India’s complete items exports, which amounted to $437.42 billion in 2024-25.Since 2021-22, the US has maintained its place as India’s major buying and selling companion. The bilateral items commerce in 2024-25 reached USD 131.8 billion, comprising USD 86.5 billion in exports and USD 45.3 billion in imports.