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‘We can’t leave our exporters high and dry, saying it’s going to change sooner. We will work with them,’ says FM Nirmala Sitharaman in an interview with Network18.
Finance Minister Nirmala Sitharaman speaks with Network18 Group Editor-in-Chief Rahul Joshi in an exclusive interview.
Finance Minister Nirmala Sitharaman on Friday said the government is considering a package for exporters to help them overcome the impact of the US tariffs. She added that the government “can’t leave exporters high and dry” and will soon work with them.
In an exclusive interview with Network18 Group Editor-in-Chief Rahul Joshi, the finance minister said, “There is a package which consists of very many different ways in which we want to help them (exporters). So, we will wait for the Cabinet to clear it. But, there is something coming to help them, so that this tirade of the tariff is something which they can face. Also, suddenly having to look for newer markets is also a challenge, but we’ll have to help them out on that.”
Asked if the government anticipates a longer haul, she said, “We hope not, but we really can’t leave our exporters high and dry, saying it’s going to change sooner. We will work with them.”
On the likely impact of the US tariffs on the GDP, the finance minister said, “With the reform like this (tax cuts), many of that should be offset.”
Last month, the Trump administration ramped up trade tensions with India by imposing steep tariffs — first a 25% “reciprocal” levy, followed by an additional 25% penalty tied to India’s continued purchases of Russian oil — raising the total duty to a staggering 50%. The move targeted a wide range of exports, including textiles, gems and jewellery, footwear, and chemicals, dealing a major blow to export-intensive sectors and straining bilateral ties.
India has termed the tariffs as “unfair, unjustified and unreasonable”.
On September 3, the GST Council, chaired by Sitharaman, slashed rates on several items ranging from daily-use products like shampoo and hair oil to automobiles and televisions. The council also simplified the structure to three slabs — 5%, 18% and 40%. It comes six months after the government significantly raised tax-free income in India to Rs 12 lakh by extending rebate in the Union Budget 2025.
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More
September 05, 2025, 17:59 IST
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