Overview
- Prime Minister Narendra Modi held a late‑evening meeting with labour‑intensive exporters, joined by Finance Minister Nirmala Sitharaman, Commerce Minister Piyush Goyal and Cabinet Secretary T V Somanathan.
- Exporters from apparel, leather, gems and jewellery, handicrafts, engineering and seafood detailed competitiveness pressures after the US duty shock and sought immediate policy support.
- Official data show September merchandise exports to the US fell about 12% to $5.5 billion, with gems and jewellery shipments to the US down more than 70% year on year.
- Support under consideration includes the Export Promotion Mission nearing cabinet approval, a possible return of interest subvention for small and medium exporters and a credit‑guarantee scheme for loans up to Rs 100 crore.
- India–US trade talks are described by officials and media as advanced with legal text being prepared, while the government also urged exporters to diversify toward markets such as the European Union and Russia; sector bodies pressed for concessional export credit and faster SEZ rule changes.