Parliament Question: Meetings with exporters to boost exports to counter US tariff policy

AGOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE RAJYA SABHA UNSTARRED QUESTION NO.1638 ANSWERED ON 13/02/2026 MEETINGS WITH EXPORTERS TO BOOST EXPORTS TO COUNTER US TARIFF POLICY 1638. SHRI SANJAY KUMAR JHA Will the Minister of COMMERCE AND INDUSTRY be pleased to state: (a) whether it is a fact that recently, the Ministry held a series of meetings, with exporters from various sectors to discuss ways to boost exports to new markets to shield industries from the steep 50 per cent US tariffs on Indian goods; and (b) if so, the policy ideas that emerged from the meetings? ANSWER THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY (SHRI JITIN PRASADA) (a) to (b) The Government continues to work with stakeholders (Exporters and Industry) to mitigate the impact of the US tariff measures on Indian exports through a comprehensive multi- pronged strategy encompassing intensive engagement with the US Government for a mutually beneficial India-US Bilateral Trade Agreement, immediate relief through Trade relief measures of RBI, Credit Guarantee Scheme for Exporters, enhancement of domestic demand through next generation GST reforms, Export Promotion measures such as the new Export Promotion Mission which provide support and assistance to our exporters, pursuing FTAs with new countries and better utilization of existing FTA. It is expected that these measures will also enhance diversification and resilience in India’s trade relationships. India and the United States announced a trade deal on 2nd February 2026. A Joint Statement for the same was released on February 07 2026. The detailed agreement is undergoing technical and legal processes in both governments and is expected to be signed once these processes are completed. On February 07 2026, 25% additional ad valorem tariffs imposed by the U.S. on certain India’s exports citing India’s imports of Russian oil were removed. Details of some of the aforementioned measures are as follows: 1. Export Promotion Mission (EPM) The Mission will provide a comprehensive, flexible, and digitally driven framework for export promotion, with a total outlay of Rs.25,060 crore for FY 2025–26 to FY 2030–31. EPM marks a strategic shift from multiple fragmented schemes to a single, outcome- based, and adaptive mechanism that can respond swiftly to global trade challenges and evolving exporter needs. 1The Mission will operate through two integrated sub-schemes: i. NIRYAT PROTSAHAN – affordable trade finance focuses on improving access to for MSMEs through a range of instruments such as interest subvention, export factoring, collateral guarantees, credit cards for e-commerce exporters, and credit enhancement support for diversification into new markets. ii. NIRYAT DISHA – focuses on non-financial enablers that enhance market readiness and competitiveness, including export quality and compliance support, assistance for international branding, packaging, and participation in trade fairs, export warehousing and logistics, inland transport reimbursements, and trade intelligence and capacity-building initiatives. The Mission is designed to directly address structural challenges that constrain Indian exports, including limited and expensive trade finance access, high cost of compliance with international export standards, inadequate export branding and fragmented market access, and logistical disadvantages for exporters in interior and low-export- intensity regions. Under EPM, priority support will be extended to sectors impacted by recent global tariff escalations, such as textiles, leather, gems & jewellery, engineering goods, and marine products. The interventions will help sustain export orders, protect jobs, and support diversification into new geographies. 2. Credit Guarantee Scheme for Exporters has also been approved to provide 100% credit guarantee coverage by National Credit Guarantee Trustee Company Limited (NCGTC) to Member Lending Institutions (MLIs) for extending additional collateral free credit facilities up to Rs.20,000 crore to eligible exporters, including MSMEs. The Scheme is expected to enhance the global competitiveness of Indian exporters and support diversification into new and emerging markets. Enabling collateral-free credit access will strengthen liquidity, ensure smooth business operations, and reinforce India’s progress towards achieving the USD 1 trillion export target. 3. Trade Relief Measures:-The Reserve Bank of India (RBI) has also initiated trade relief measures for eligible affected exporters including provision for debt repayment moratorium and extension of tenor for export credit. 4. Leveraging Free Trade Agreements: The Government aims for promotion of Export Diversification and has signed sixteen (16) Free Trade Agreements (FTAs) and six (06) Preferential Trade Agreements (PTAs) with several key trading partners. Government is working with all stakeholders to enable our exporters to better utilize the benefits of India’s FTAs with major markets such as Japan, Korea, UAE etc. and effectively utilize the opportunities that have been created with the recent concluded FTAs such as with the EFTA countries, UK, Oman and New Zealand. The Government has also recently concluded FTA negotiations with the European Union. ***** 2