NEW DELHI, Oct 28: Commerce and Industry Minister Piyush Goyal will meet the exporters community here on Wednesday to discuss ways to further push the country’s outbound shipments, which rose 6.74 per cent to USD 36.38 billion in September, an industry official said on Tuesday.
The meeting is also important as India’s exports to the US, its largest trading partner, dipped about 12 per cent to USD 5.46 billion last month, due to the imposition of a steep 50 per cent tariff on Indian goods entering America, from August 27.
“The minister will meet representatives of export promotion councils tomorrow (Wednesday),” the official said.
An exporter said the industry is waiting for the proposed bilateral trade agreement between India and the US.
“We are eagerly waiting for this pact as a cut in tariffs would help increase exports,” the exporter said.
The high US import duties are impacting exports from labour-intensive sectors such as textiles, marine and leather.
Cumulatively, during April-September this year, exports increased 3.02 per cent to USD 220.12 billion, while imports rose 4.53 per cent to USD 375.11 billion, leaving a trade deficit of USD 154.99 billion. (PTI)
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