Particle.news
Download on the App Store
3 ARTICLES
·
last mo.

Maharashtra Engages Central Government After US Doubles Import Tariffs

Chief Minister Devendra Fadnavis has mobilized senior advisors to secure protective measures for the state’s Rs 5.56 lakh crore export economy.

Image
Image

Overview

  • President Donald Trump doubled import duties on Indian goods to 50 percent, a levy widely regarded as punishment for India’s Russian oil purchases.
  • On August 7, CM Devendra Fadnavis convened a preliminary meeting with Chief Economic Advisor Praveen Pardeshi and department secretaries to evaluate risks to Maharashtra’s industries.
  • Economic experts including Prof Satyanarayan Kothe and economist Rishi Shah reviewed potential effects on GDP, employment and export competitiveness.
  • Meeting participants agreed to initiate immediate talks with the Union government to design policies safeguarding export-driven sectors and local jobs.
  • Maharashtra accounted for Rs 5.56 lakh crore in exports in FY 2023-24—15.37 percent of India’s total—with the US market absorbing over Rs 1.12 lakh crore of its shipments.