Government Support Needed for Export Sectors

Think tank Icrier has highlighted the urgent need for government support for India's export sectors, particularly textiles and gems and jewellery, which are severely impacted by Trump's 50% tariffs. With nearly 70% of India's exports at risk, the call for action is more pressing than ever.

Strategic Negotiations and Agricultural Reforms

The paper suggests that India should engage in smart, tactical negotiations with the US, especially focusing on agriculture, a key sticking point. It recommends addressing US demands on genetically modified (GM) products scientifically rather than ideologically, proposing uses for GM corn in ethanol blending or poultry feed.

Reducing Dependence on the US

To mitigate the impact, the paper advocates for reducing dependence on the US by advancing trade deals with the UK and European Union. It also calls for domestic reforms in agriculture, including rationalizing import duties and investing in R&D to enhance export competitiveness globally.