Overview

• Finance Minister Nirmala Sitharaman held an inter‑ministerial meeting to consider support options after the new US surcharge took effect on August 27.
• The Commerce and Industry Ministry said it is evaluating liquidity measures and seeking to fast‑track the Export Promotion Mission to bolster affected sectors.
• Exporters flagged pressure on orders and cash flows in shrimp, textiles, leather and footwear, gems and jewellery, and some chemicals as competitors face lower US duties.
• Industry representatives, including FIEO, asked for temporary relief such as a MEIS‑like support and proposed government‑industry cost‑sharing that would cut the effective hit to about 20%.
• Formal trade talks have been deferred after the planned August 25 round, with officials saying broader negotiations are unlikely until the additional 25% oil‑linked levy is addressed, even as engagement with Washington continues.