India Approves $5.1 Billion Package for Exporters After US Tariffs Hit
India's cabinet has approved spending 450.6 billion rupees ($5.1 billion) on support for exporters, including 200 billion rupees in credit guarantees on bank loans, Information Minister Ashwini Vaishnaw said on Wednesday. The plan includes the allocation of 250.6 billion rupees over six years for affordable trade finance for small exporters, logistics and market support under an export promotion package to help offset the impact of recent U.S. tariff hikes. The new U.S. tariffs, including a 25% punitive levy over New Delhi's Russian oil purchases, raised duties to as high as 50% on items such as...
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