US tariffs: Indian exporters to expand market; outreach programmes in 40 nations to push exports

NEW DELHI: Indian exporters have started trying to find new markets to overcome Donald Trump's 50 percent tariff retaliation. The move is to find alternative markets in 40 countries including China, Japan, Germany, France, Italy, Spain, Netherlands, Poland, Canada, Mexico, Russia, Belgium, Turkey, UAE and Australia.

Industry and trade organizations and various embassies will jointly examine the market potential of each country. Campaigns will also be launched to market the quality and tradition of Indian textiles. Alternative markets should be found for gems, jewellery, silk, leather, footwear, chemicals and machinery. Availability of Indian products will be ensured in markets with good potential. Products like Surat gems, textiles from Tiruppur and Panipat, and carpets from Bhadohi will be introduced in these markets.

'Brand India' campaign

India's presence will be ensured in international trade fairs, exhibitions, buyer-seller meetings, etc. to develop the market.

Crisis intensifies

Industries such as garments, gems, jewellery, shrimp, leather, footwear, chemicals, electrical and mechanical machinery are in crisis after the US imposed a 50 percent tariff. Companies are trying to survive by closing factories, reducing production and laying off employees.

Ministry of Commerce to provide relief

The central government has initiated measures to reduce the impact of the tariff. A meeting of exporters in the jewellery and textile sectors will be called as part of this.

Alternative markets should be found to reduce the impact of the tariff. The friendship between Prime Minister Narendra Modi and US President Donald Trump will help overcome the crisis.

-Harsh Vardhan Shringla

Former Foreign Secretary and Rajya Sabha MP