MUMBAI: Finance Minister Nirmala Sitharaman on Thursday assured a delegation of the Federation of Indian Export Organisations (FIEO) that the government will stand firmly behind exporters reeling under steep US tariffs, pledging “comprehensive support” to safeguard their interests and protect jobs.
Meeting the delegation led by FIEO president S C Ralhan, Sitharaman said the government is committed to addressing the concerns of the exporting community and will explore “every possible avenue” to mitigate the adverse impact of Washington’s recent tariff escalation on Indian goods.
“The government stands shoulder-to-shoulder with exporters in this hour. Protecting workers’ livelihoods is equally important, and industry leaders must reassure employees of job continuity even amidst global headwinds,” the Finance Minister told the delegation, according to an official release.
Ralhan, along with FIEO vice-president Ravikant Kapur, director general & CEO Ajay Sahai, Farida Group director Israr Ahmed, and EEPC chairman Pankaj Chadha, briefed Sitharaman on the immediate concerns of exporters, including loss of competitiveness, market access hurdles and the risk to employment generation.
The FIEO president said the minister’s reassurance had boosted confidence among exporters. “Her commitment that the government will stand shoulder-to-shoulder with exporters demonstrates the priority being accorded to safeguarding India’s trade interests and employment,” Ralhan said.
FIEO said it will work closely with the government to diversify export markets and strengthen India’s position in global trade, even as exporters brace for the impact of the 50% tariff on Indian goods imposed by the US earlier this week.