India's Export Strategy: Navigating Global Trade Uncertainty

India is considering new export incentives as global trade uncertainty grows, driven by potential U.S. tariffs. The government aims to support exporters amid pressure from aggressive trade partners. Funding is set for April, and a decision is expected within a month.

India is strategizing to introduce new incentives for its exporters in response to the swirling uncertainties of global trade. This move comes as a reaction to potential tariffs threatened by the administration of former U.S. President Donald Trump on shipments bound for the United States, a government official reported on Tuesday.

The pressure on Indian exporters is intensifying due to assertive trade policies from partners such as the U.S. and the European Union. The Indian government is anticipated to decide within a month about providing these incentives, with budget allocations already earmarked for the fiscal year commencing April 1.

An Indian government official noted that the country's export performance in February was hampered by the looming threat of U.S. tariffs. Official trade data reflecting February's figures is slated for public release on March 17. The government has not yet responded to requests for further comment.

(With inputs from agencies.)