PTI New Delhi

The Board of Trade (BoT) is scheduled to meet on Tuesday, chaired by Commerce and Industry Minister Piyush Goyal, to discuss strategies to boost India's exports amid the steep tariffs imposed by the US, an official has said. Headed by the minister, the board includes participants from various states, Union territories, and senior officials from the public and private sectors. 

In the meeting, representatives of export promotion councils, along with other participants, will present their views on the export sector. "The BoT is meeting on November 25," the official said.  The meeting is important as the country's exports fell by a steep 11.8% to USD 34.38 billion in October on account of the impact of high tariffs by the US, while the trade deficit widened to a record high of $41.68 billion, mainly due to a jump in gold imports.

India and the US are negotiating a bilateral trade agreement.  The country's imports jumped 16.63% to an all-time high of $76.06 billion due to high inbound shipments of the yellow metal, silver, cotton raw/waste, fertiliser, and sulphur.