US tariffs will hurt Indian MSMEs: Prakash Ambedkar

Vanchit Bahujan Aghadi VBA leader Prakash Ambedkar on Monday claimed that MSMEs run by marginalised and discriminated communities will be the worst hit due to the imposition of 50 per cent tariffs by the US on Indian goods.

Vanchit Bahujan Aghadi (VBA) leader Prakash Ambedkar on Monday claimed that MSMEs run by marginalised and discriminated communities will be the worst hit due to the imposition of 50 per cent tariffs by the US on Indian goods. MSMEs rely heavily on exports, especially to the US, in sectors including textiles, apparel, footwear, and fisheries. These MSMEs already operate with very thin profit margins, Ambedkar said.

''The addition of tariffs squeezes their margin further, thereby hurting the income and the livelihood of tens of thousands of artisans and craftsmen from marginalised and discriminated communities working in these sectors,'' he added. He claimed that the imposition of tariffs has set the relations between India and the US back to the 1970s.

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