Mumbai, August 2 (H.S): Union Commerce and Industry Minister Piyush Goyal On Saturday met with leading industrialists of the textile industry in Mumbai amid the announcement by the United States to impose a 25 percent import duty (tariff) on India. During this meeting, he had in-depth discussions with these industrialists.

The Commerce Minister stated in a post that there was an in-depth conversation today in Mumbai with the leading industrialists of India's vibrant textile industry. During this time, bold ideas were discussed to enhance global competitiveness, sustainability, innovation, and value chain integration. He wrote that we are all working together towards developing India as a global textile superpower.

Piyush Goyal will meet with leading exporters from various sectors, including food processing, textiles, engineering, and chemicals, in Mumbai from August 2 to 4. During this period, he will discuss the effects of the 25 percent tariff announced by the United States. Exporters from the fisheries, IT, pharma, and engineering sectors will also participate in these meetings with the Commerce Minister.

Additionally, the Commerce Minister will hold a separate meeting with leather sector exporters in New Delhi on August 4. It is noteworthy that the United States has imposed a 25 percent import duty on India, which will come into effect on August 7. This could affect nearly half of the country's $86 billion exports to the U.S. market.

The remaining half, which includes pharmaceuticals, electronics, and petroleum products, remains unaffected by this. However, the sixth round of discussions for the proposed trade agreement between India and the United States is scheduled to take place in India on August 25.

Hindusthan Samachar / Jun Sarkar