Lok Sabha Question No. 2545 (UNSTARRED), answered on 2025-12-16
Subject: Impact of US Tarrif
Ministry: COMMERCE AND INDUSTRY
Asked by: Shri Magunta Sreenivasulu Reddy, Shri Prabhakar Reddy Vemireddy, Shri Putta Mahesh Kumar

## GOVERNMENT OF INDIA MINISTRY OF COMMERCE & INDUSTRY DEPARTMENT OF COMMERCE

## LOK SABHA UNSTARRED QUESTION NO. 2545 ANSWERED ON 16/12/2025

## IMPACT OF US TARIFF

2545. SHRI PUTTA MAHESH KUMAR: SHRI PRABHAKAR REDDY VEMIREDDY: SHRI MAGUNTA SREENIVASULU REDDY

Will the Minister of COMMERCE & INDUSTRY ( वाणिज्य एवं उद्योग मंत्री ) be pleased to state:

- (a) whether the Government has conducted any study/survey regarding the impact of US tariffs/heavy tariffs on Indian industries, businesses and farmers and local marine product exporters during the last two years;
- (b) if so, the details regarding the total estimated losses suffered by Indian industries, businesses and farmers due to the US tariffs in the country month-wise and State-wise during the last two years especially from Andhra Pradesh;
- (c) the details regarding the steps undertaken by the Government to provide support and assistance to affected Indian industries, businesses and farmers and local marine product exporters since the tariffs came into effect; and
- (d) whether the Government has undertaken any steps to raise awareness regarding above steps for helping country's businesses impacted by the tariffs to regain losses and grow new potential market, if so the details thereof?

## ANSWER

## वाणिज्य एवं उद्योग मंत्रालय में राज्यमंत्री (श्री णिणिन प्रसाद)

THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY (SHRI JITIN PRASADA)

(a) & (b) The Government of India continues to monitor India's exports and take steps to promote them.

(i) Details of India's export performance in the current fiscal for the period April to November compared to the same period last fiscal years 2023-24 and 2024-25 is as given below:

## (Values in USD Billion)

|        |   April-November 2023 |   April- November 2024 |   April- November 2025 |
|--------|-----------------------|------------------------|------------------------|
| Export |                 278.8 |                  284.6 |                 292.07 |

## Source: DGCIS

(ii) Details of India's export performance in the current fiscal for the period April to November compared to the same period in the fiscal years 2023-24 and 2024-25 for Marine Products is provided below:

(Values in USD Billion)

|        |   April-November 2023 |   April- November 2024 |   April- November 2025 |
|--------|-----------------------|------------------------|------------------------|
| Export |                  5.22 |                   4.95 |                   5.75 |

Source: DGCIS

(iii) The  export  performance  of  the  state  of  Andhra  Pradesh  for  merchandise exports to the world is provided below:

|                          | Andhra Pradesh to World   | Andhra Pradesh to World   |
|--------------------------|---------------------------|---------------------------|
| (Values in USD Million ) | 2023-24                   | 2024-25                   |
| Export from AP           | 19759.86                  | 20782.81                  |

Source: DGCIS

(c) and (d)  The Government remains engaged with all stakeholders to assess the evolving  impact  of the U.S. tariff  measures  and  raise awareness  of the Government's mitigation steps. The Government continues to work to mitigate the impact of the US tariff measures on Indian exports through a comprehensive multipronged strategy encompassing intensive engagement with the US Government for  a  mutually  beneficial  India-US  Bilateral  Trade  Agreement,  immediate  relief through  Trade  relief  measures  of  RBI, Credit Guarantee Scheme for Exporters, enhancement of domestic demand through next generation GST reforms, Export Promotion  measures  such  as  the  new  Export  Promotion Mission which provide support and assistance to our exporters, pursuing FTAs  with  new  countries  and better utilization of existing FTA. It is expected that collectively these measures will enhance diversification and resilience in India's marine exports.

Details of some of the aforementioned measures are as follows:

## 1.  Export Promotion Mission (EPM)

The Mission will provide a comprehensive, flexible, and digitally driven framework for export promotion, with a total outlay of Rs.25,060 crore for FY 2025-26 to FY 203031.  EPM  marks  a  strategic  shift  from  multiple  fragmented  schemes  to  a  single, outcome- based, and adaptive mechanism that can respond swiftly to global trade challenges and evolving exporter needs.

The Mission will operate through two integrated sub-schemes:

- i. NIRYAT  PROTSAHAN  -  focuses  on  improving  access  to  affordable trade finance for MSMEs through a range of instruments such as interest subvention,  export  factoring,  collateral  guarantees,  credit  cards  for  ecommerce exporters, and credit enhancement support for diversification into new markets.
- ii. NIRYAT  DISHA  -  focuses  on  non-financial  enablers  that  enhance market  readiness  and  competitiveness,  including  export  quality  and compliance  support,  assistance  for  international  branding, packaging, and participation in trade fairs, export warehousing and logistics, inland transport reimbursements, and trade intelligence and capacity-building initiatives.

The  Mission  is  designed  to  directly  address  structural  challenges  that  constrain Indian exports, including:

-  limited and expensive trade finance access,
-  high cost of compliance with international export standards,
-  inadequate export branding and fragmented market access, and
-  logistical disadvantages for exporters in interior and low-export-intensity regions.

Under EPM, priority support will be extended to sectors impacted by recent global tariff escalations, such as textiles, leather, gems & jewellery, engineering goods, and marine products. The interventions will help sustain export orders, protect jobs, and support diversification into new geographies.

2. Credit Guarantee Scheme for Exporters has also been approved to provide 100% credit guarantee coverage by National Credit Guarantee Trustee Company Limited  (NCGTC)  to  Member  Lending  Institutions  (MLIs)  for  extending  additional collateral free credit facilities up to Rs.20,000 crore to eligible exporters, including MSMEs. The Scheme is expected to enhance the global competitiveness of Indian exporters  and  support  diversification  into  new  and  emerging  markets.  Enabling collateral-free  credit  access  will  strengthen  liquidity,  ensure  smooth  business operations, and reinforce India's progress towards achieving the USD 1 trillion export target.

3. Trade Relief Measures :The Reserve Bank of India (RBI) has also initiated trade relief measures for eligible affected exporters including provision for debt repayment moratorium and extension of tenor for export credit.

4. Leveraging Free Trade Agreements :-  The Government aims for promotion of Export  Diversification  and  has  signed  15  Free  Trade  Agreements  (FTAs)  and  6 Preferential  Trade  Agreements  (PTAs)  with  its  trading  partners.  Government  is working with all stakeholders to enable our exporters to better utilize the benefits of India's FTAs with major markets such as Japan, Korea, UAE etc. and effectively utilize the opportunities that have been created with the recent concluded FTAs such as with the EFTA countries and the UK. The  Government  is also  engaged  in  negotiations  for  early  conclusion  of mutually beneficial FTAs with the EU, Peru, Chile, New Zealand, Oman etc.

5. Diversification Measures : Through consistent efforts, the number of listed fishery establishments for export to the EU and Russia have increased recently. As per data from  the  Department of  Fisheries,  through  the  Pradhan  Mantri  Matsya  Sampada Yojana, projects with a total outlay of Rs. 21274.13 crore have been approved for the development of fisheries and aquaculture in the country. This has contributed to India's exports in the sector more than doubling from Rs. 30,213 crore in 2013-14 to Rs. 62,408 crore in 2024-25, with the share of value added products rising from 2% to 11%.

The  Government  remains  engaged  with  all  stakeholders-including  exporters, Export Promotion Councils (EPCs), industry associations, and state governmentsto assess the evolving impact of the U.S. tariff measures.

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