New opportunities... Reduction in GST...' What is the government's preparation to face 50% tariff? Piyush Goyal reveals the plan

US-India Tariff: After US President Donald Trump imposed 50% tariff on Indian exports, Union Commerce Minister Piyush Goyal said that India is taking several important steps to meet this unilateral action. The government is discussing deals with many countries to help exporters. Apart from this, it is also preparing to propose a big reduction in GST.

India's plan to sign trade agreements with 40 countries

Piyush Goyal, while addressing exporters at the inauguration ceremony of Bharat Buildcore, said, 'The government is committed to ensuring that you do not face any stress or difficulty. The Commerce Ministry is actively trying for new trade agreements at the global level. India is planning to sign trade agreements with 40 countries including Britain, UAE, Russia, Japan and South Korea to reduce the impact of tariffs on several sectors, including India's textiles.

GST reduction hint and promotion of domestic consumption

Meanwhile, Goyal stressed on using and promoting local products. He said that a proposal to provide major relief in it may be presented in the GST Council meeting to be held next week. The impact of these changes will be felt by exporters soon. The aim of this step is to provide relief to industries affected by tariffs in the domestic market.