INTERNATIONAL
India hopeful US will review extra 25% tariff for Russian oil purchases, Indian government source says
India remains hopeful the US will reconsider steep tariffs imposed over Russian oil imports as trade tensions continue to rise. - REUTERS/Filepic
NEW DELHI: India is hopeful that the U.S. will review the additional 25% tariff imposed on Indian goods as penalty for its Russian oil purchases, a government source told reporters on Wednesday.
AI Brief
The Indian government is holding talks with exporters to increase shipments of textiles, leather, gems and jewellery to other countries, and is likely to provide financial assistance to affected businesses, the source said.
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AI Brief
- India is consulting exporters to boost shipments of affected goods to alternative global markets.
- Financial assistance is likely for businesses impacted by US tariffs, especially in key sectors.
- Textiles, leather, gems and jewellery are among the industries most affected and prioritised for support.
The Indian government is holding talks with exporters to increase shipments of textiles, leather, gems and jewellery to other countries, and is likely to provide financial assistance to affected businesses, the source said.