The Indian prime minister's office will hold a high-level meeting on Tuesday to discuss support for Indian exporters facing the consequences of US tariff hikes, The Times of India newspaper reported, citing sources familiar with the matter.
Starting Wednesday, Indian goods entering the US market will be subject to a 50% tariff after Washington doubled the existing duties, increasing price pressure on exporters.
The meeting is expected to be chaired by Prime Minister Narendra Modi's principal secretary, the newspaper said.
India's ministry of commerce is holding consultations with exporters and export promotion councils to minimize the impact of the existing 25% levy, which companies say has already led to margin compression and reduced competitiveness, the newspaper said, adding that policy measures under discussion include targeted support for specific sectors rather than broad economy-wide measures.
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