Indians hoping to cross the commercial war injuries
reports
Economists Goldman Sachs reduced Indian growth for the current fiscal year 1/2 to 2 units. Have a percentage; The reason for this decline is the impact of global tariffs imposed by the US President Donald Trump.
5 % tariffs on India imports and even higher tariffs for countries such as China have increased global trade tensions and caused a sharp collapse of stock markets in Asia on Monday.
The Indian Diamond Industry, which sends more than one-third of its products to the United States, is expected to be one of the sections that can be most injured and endanger thousands of jobs.
Authorities have announced that there are talks with ministries and exporters’ associations to review the consequences of this situation. The Ministry of Finance has so far received four to five offers from the Ministry of Commerce to support the export industries, including extension of interest subsidies, assistance to diversify markets and increase bank credit.
An Indian Ministry of Finance official who spoke anonymously said that we are still investigating the impact of increased tariffs on export sectors and deciding on the right time. Another official from the Ministry of Finance said that US tariffs would not put significant pressure on key Indian financial indicators in year 1/2. According to the official, the budget is intended for customs refund plans to exporters of resources and is ready to increase support.
Reuters reports that India does not intend to take retaliatory action against Trump’s tariffs because authorities are trying to negotiate. Officials said the strong impact of these tariffs on the central working sectors such as textiles, shoes and agriculture is the biggest concern of the government. Another official said the government may provide more support for exporters in the form of an export promotion plan announced in the budget, albeit within the framework of existing financial constraints.
