Govt working on comprehensive package to support exporters hit by US tariffs: Sitharaman
GST
Dated:- 8-9-2025
PTI
New Delhi, Sep 8 (PTI) The government is working on a comprehensive package to support Indian exporters impacted by a steep 50 per cent tariff imposed by the US, Finance Minister Nirmala Sitharaman has said, asserting a multi-departmental engagement is underway to assess the impact on Indian shipments.
In an interview with PTI, Sitharaman said various industries are sharing the impact with the concerned departments or ministries as the second part (25 per cent) of the tariff kicked in from August 27.
“So, we are getting their inputs…something is being worked out to do some hand-holding for those exporters who h
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and jewellery, shrimp, leather and footwear, animal products, chemicals, and electrical and mechanical machinery.
Sectors such as pharma, energy products and electronic goods are out of the ambit of these sweeping duties.
The US accounted for about 20 per cent of India's USD 437.42 billion worth of goods exports in 2024-25.
The US has been the largest trading partner of India since 2021-22. In 2024-25, the bilateral trade in goods stood at USD 131.8 billion (USD 86.5 billion exports and USD 45.3 billion imports).
Calling the landmark GST overhaul a 'people's reform', Sitharaman said that rationalisation of tax rates for a wide swath of products will benefit every family, boost consumption, and bolster the economy.
The finance mini
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armarked for a small list of sin goods and ultra-luxury items.
“This is a reform which touches the lives of all 140 crore people. There is no individual in this country who is untouched by GST. The poorest of the poor also have something small that they buy, touched by GST,” she said.
Starting September 22, the GST slab structure will change – 5 per cent for common use goods and 18 per cent for everything else. The existing slab of 12 per cent and 28 per cent rates has been done away with.
In the revamped GST structure, most daily food and grocery items will fall under the 5 per cent GST slab, with bread, milk and paneer attracting no tax at all.
Sitharaman said the reform – the single biggest since the 2017 roll-out of the one-nati
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