PTI New Delhi

Commerce and Industry Minister Piyush Goyal on Friday said the government will soon announce measures to boost exports and domestic consumption, underlining its commitment to shield the industry from the adverse impact of unilateral actions by other countries.

The remarks are important as the US has imposed a steep 50 per cent tariff on Indian goods entering America from August 27. According to exporters, shipments from labour intensive sectors such as shrimp, chemicals, leather and footwear would be hit from these tariffs.

Goyal assured exporters of all support in dealing with the current global uncertainties at the trade front, which were caused by the imposition of high tariffs. "The government is committed to make sure that all of you do not face any stress or difficulties in managing the current situation emanating from some unilateral actions," Goyal said here at an industry event. He urged the industry to highlight sectors that may get impacted by these tariffs and need alternative markets.

"We in the commerce ministry, through our Missions, are reaching out to other parts of the world, to look at other opportunities which we can capture. We are also looking at giving a boost to domestic consumption...

"You will soon see the GST council meeting next week... So that the impact of these changes can be felt by all of you very quickly and that can give a quick demand booster to the entire domestic manufacturing sector," the minister said.

The upcoming GST Council meeting, he noted, is expected to provide measures that will quickly stimulate demand and give a strong boost to domestic manufacturing.

‘We are talking to US for a trade agreement’

Goyal on Friday said India is negotiating a bilateral trade agreement with the US, indicating that the steep 50 per cent tariff imposed by America on Indian goods will not have much impact on the country's economy.

"If somebody wants to have a good free tarde agreement, we will always be ready. But if somebody discriminates...We will never bow down, nor will we ever be weak, together we will keep moving forward," he said.

‘Qatar wants to negotiate trade pact with India’

Goyal on Friday said a proposed Free Trade Agreement (FTA) with Oman will be finalised soon, and Qatar also wants to negotiate a pact with India. He said that India has already signed such acts with a number of developed economies, including Australia, the UK, the UAE, Mauritius, and four-European nation bloc European Free Trade Association (EFTA).

‘India, Africa should look at doubling bilateral trade by 2030’

India and Africa should look at doubling bilateral trade by 2030 from the current level of USD 82 billion, Commerce and Industry Minister Piyush Goyal said on Friday. He also called for increasing cooperation in areas like critical minerals, agriculture, technology and manufacturing . The two-way trade increased from USD 56 billion in 2015-16 to USD 82 billion (India's exports stood at USD 42 billion and imports were USD 40 billion) in 2024-25.