VIJAYAWADA: Andhra Pradesh Chambers of Commerce and Industry Federation (AP Chambers) organised a meeting with its affiliated associations in Vijayawada on Thursday. They have around 78 affiliated associations representing various sectors in the State. The purpose of the meeting was to discuss the pressing issues faced by different sectors and the impact of US tariffs on exporters.
Speaking on the occasion, AP Chambers President Potluri Bhaskara Rao said, “The impact of 50% US tariffs on exports has affected many sectors in Andhra Pradesh, especially aqua, textiles, agri products, auto components, etc. The major share of exports from India, around USD 83 billion, are to the US. We request the Central government to take measures to diversify exports to other countries to reduce dependence on the US. We also request the Centre to bring back export subsidies, provide better access to working capital facilities, and offer reduced GST rates to affected sectors. The import duty on raw materials should be reduced to make Indian products more competitive in the international markets.”
Stating that the State government is yet to release incentives pending for the last five to six years, Bhaskara Rao urged the authorities to clear them at the earliest, noting that the move would provide the much-needed impetus to MSMEs.
Observing that fuel and power charges are very high in the State compared to neighbouring states, he appealed to the government to bring them down to enable local industries to compete with those in other states.
AP Chambers General Secretary B Raja Sekhar said, “The 50% US tariffs have impacted many sectors in Andhra Pradesh, including engineering. To mitigate the impact, India should reduce its dependence on US markets. We request the Central government to bring back schemes such as Marketing Development Assistance (MDA), Market Access Initiative (MAI), and Interest Equalisation Scheme (IES).”