India’s Finance Minister Nirmala Sitharaman has outlined the country’s preparedness in dealing with the potential hike in US tariffs. With the US considering the imposition of tariffs on Indian products like textiles, chemicals, and metals, Sitharaman reassured exporters that India’s economic policies would adapt accordingly.
The government has already initiated discussions with trade experts, industry leaders, and foreign governments to develop strategies that would protect India’s position in the global market. In particular, Sitharaman pointed to efforts to diversify trade partners and reduce the country’s reliance on the US market. She also noted that India was exploring tax incentives and subsidies to ensure that its exporters could remain competitive despite any tariff increases.
