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India approves ₹450.6B export-support package amid U.S. tariff squeeze
India launches a $5.1B export relief package to support firms hit by steep U.S. tariffs, especially in labour-intensive sectors.
India’s Union Cabinet sanctioned a ₹450.6 billion (US$5.1B) aid package to support exporters hit by recent U.S. tariffs. The plan includes ₹200 billion in credit guarantees for collateral-free loans and ₹250.6 billion over six years for trade finance and promotion.
Labor-intensive sectors like textiles, jewellery, and leather are expected to benefit the most, as the government aims to help them navigate higher U.S. duties and access new markets.