India Gears Up for Import Surge Amid Global Tariff Changes

The Indian government establishes an inter-ministerial group to monitor potential surges in imports from countries like China and Vietnam due to US-imposed tariffs. While concerns arise, there's also an opportunity for procuring affordable intermediate goods. Efforts to explore new export markets and finalize free trade agreements are underway.

In response to recent global tariff impositions by the US, India is bracing for a potential increase in imports from countries such as China, Vietnam, and Thailand. An inter-ministerial group has been formed to closely monitor the situation, sources revealed, as businesses fear a shift in trade patterns.

This anticipated upsurge in imports could notably impact sectors like consumer goods, electronics, and steel. The group, comprising officials from commerce, revenue, and DPIIT, will analyze data on air and sea shipments to determine if protective measures are necessary.

Despite challenges posed by increased US tariffs, India sees an opportunity to obtain cheaper intermediate goods. Simultaneously, the commerce ministry is expediting the export promotion mission, aiming to supply credit at favorable terms and secure free trade agreements with countries including the EU, UK, and Oman.

(With inputs from agencies.)