High-Level Panel To Prep For Potential Import Surge Amid US Tariffs
Key product groups being looked at are consumer goods, electronics, chemicals and steel.
The Commerce Ministry is setting up a high level panel to prepare for any potential surges in imports of goods, as a result of higher tariffs on competing manufacturing nations such as China and Thailand, according to people in the know.
The working group is set to have members from the Department of Commerce, Revenue and Promotion of Industry and Internal Trade. Key product groups being looked at are consumer goods, electronics, chemicals and steel.
Interestingly, the group will analyse data starting June-July, which is by when the full effect of tariffs on shipments is expected to take place. Given that exporters have rushed to send shipments to the US before the tariffs hit, stock surpluses might be diverted to India only after May.
India has been imposing anti-dumping duties on certain items, especially from China, to protect domestic industries from cheap imports.
The Ministry of Commerce is also set to hold a meeting with exporters on Wednesday, to assess the impact of US President Donald Trump's tariffs on Indian shipments. The government will take feedback and suggestions on the reciprocal-tariff impact from exporters, and also on the ongoing negotiations with the US for a bilateral trade agreement.
