The Minister of Commerce and Industry, Pyush Goyal, is expected to meet with exporters on April 9 as the reciprocal rates of the United States come into force.

According to sources close to development, the Ministry of Commerce has called a meeting with exporters on Wednesday to discuss the impact of reciprocal rates on exports and possible strategies to overcome it.

For now, exporters have been working to make quick shipments to the canalization and ensure that they are sent on April 9 to escape the reciprocal rates of the United States. However, exporters say there is a little uncertainty today, as there are no new orders and everyone is in waiting and clock mode.

“In most cases, there are subsequent orders. It can be seen if the consumers can be transmitted to consumers. The labor capital is also becoming a problem, as exporters will have to pay the highest rate,” said a sectoral expert, adding that about a month will be needed to completely evaluate the situation.

The United States has imposed a 26% reciprocal rate in India with effects from April 9. Pharma is still exempt today, but the United States have indicated that this exemption can also be reviewed.

The Ministry of Commerce is also currently evaluating the impact of the rates and to understand the way to go. According to sources, the Government hopes for a successful negotiation of the bilateral trade agreement with the United States that it could lead to a little relief on rates, and is also studying rapidly monitoring trade agreements with several countries, including the European Union.

In the meantime, exporters also expect a new government support and a renaissance of various export incentive schemes, such as the interest comparison scheme that disappeared on December 31 last year, as well as the extension of the Rodtep regime (remission of rights and taxes on exported products).

Goyal had previously met the export promotion councils on March 13. While the meeting was part of his usual interactions, problems were also presented around the United States and fares.