The Prime Minister’s Office will hold a high-level review meeting on August 26 to assess support measures for Indian exporters hit by higher US tariffs. The session, chaired by the PM’s Principal Secretary, comes as Washington doubles duties, with Indian goods now facing a steep 50% tariff, raising cost pressures on exporters.
00:00Breaking news that's coming in. There's big viewers, let us tell you that only a day before U.S. tariffs on India now kick in.
00:07The Prime Minister's office is to chair a key meet on the U.S. tariff tomorrow.
00:12Now this is a big exclusive news break from Business Today TV that we bring to you wherein governments targeted relief for select industries is being highlighted.
00:22The PMO is to chair a key meet tomorrow on the U.S. tariff hike. Indian exports is to face 50% U.S. tariff from August 27th onwards.
00:32Remember the tariffs that have in fact been imposed by the U.S. side.
00:35Government mulls targeted relief for the selected industries.
00:38Exporters in fact come out to seek emergency credit line guarantee scheme and cluster-based working capital funds under review at this point.
00:46SMEs and export units are at the core of the government support plan.
00:51And this is what information we have picked up so far on what the government is planning to do further with the very tariffs kicking in from August 27th that is.
01:02And right a day before the very tariffs are to kick in, we see this big meeting that is currently pending and coming up.
01:08Karishma Asudhani joining me on the broadcast to bring us more details on this.
01:11Karishma, very good afternoon to you.
01:13I would begin with asking you what are the industries that we are looking at?
01:17SMEs is one and exporters is at the core as we are given to understand.
01:22But what more select industries are we speaking of that we are picking up?
01:25Karishma Asudhani, very good afternoon to you.
01:26Firstly, let me bring it to you that PMO's meeting tomorrow on tariffs comes in due fact that on 27th, 50% tariffs are going to kick off for India.
01:37We have learned exclusively from our sources that PMO tomorrow will be chairing this high-level meeting at 3 p.m. to address the export concerns.
01:45To talk about the sectors, we have been told that textile is one sub-sector which will get deep focus from the government officials because a lot of companies and micro firms have shared the fact that they are not okay with the broader scheme but they would like some sector-specific export measures that can help them to face the headlines.
02:07We are also picking up that the meeting that was supposed to happen between Washington and New Delhi that stands stalled and India is hoping for the fact that negotiations could proceed in the future days but we are not willing to budge on the sectors like agriculture and dairy which we have already taken a strong stance on.
02:27Tomorrow's meeting will also be attended lightly by Cabinet Secretary. It may also have Prime Ministers present. That confirmation is yet not on cards.
02:36But the fact that all the secretaries are coming together to review the export measures and to brace for the impact of 50% tariffs that will come in on India from the day after.
02:46And Karishma, Karishma do stay with us. Viewers, this is the big news that we are picking up at this given point as Karishma also underlined a big meeting that is in fact to take place.
02:57The PMO has already scheduled this high-level meeting on August 26th to review and discuss the relief measures for Indian exports in response to the impending U.S. tariff hikes that are set to take effect from August 27th.
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