India is considering fresh incentives to support its exporters as global trade uncertainties rise, particularly with the looming threat of tariffs from the United States under a potential Donald Trump administration, a government official said Tuesday.
Indian exporters face increasing pressure due to aggressive trade policies from key partners like the U.S. and the European Union. In response, the government is evaluating incentive measures, with a decision expected within a month. Budget allocations for the upcoming fiscal year, starting April 1, have already set aside funds for this initiative.
India’s exports in February felt the impact of U.S. tariff concerns, highlighting the urgency for government intervention. Trade data for February will be released on March 17, providing insights into the broader effects of these trade tensions.
While the Indian government has not yet commented on the matter, the move signals proactive efforts to shield exporters from the potential fallout of shifting global trade policies.
With trade uncertainties growing, businesses and policymakers are closely watching how India navigates these challenges to maintain its export growth.