Exports plan in the works
The commerce ministry has called a meeting with exporters on July 31 to finalise its strategy to boost shipments by taking advantage of the ongoing trade war between the US and China.
A senior ministry official said the meeting, to be chaired by commerce minister Piyush Goyal, will focus on high-potential items for exports that have already been identified by the government.
They said the meeting would discuss the problems faced by exporters and the strategies to be adopted.
Analysts said the exporters were facing difficulties on account of the global trade conflicts. However, some countries are seeing this as an opportunity and are capitalising on the changing supply chains.
Goyal is likely to travel to the US in early August and meet United States Trade Representative (USTR) Robert E Lighthizer and discuss ways to restart the trade talks.
The analysts said the protective measures adopted by the government as part of the Make in India initiative could hamper the discussions.
The US has imposed tariffs on $250 billion worth of Chinese products and threatened levies on another $325 billion worth of merchandise. In retaliation, China has imposed tariffs on $110 billion worth of US exports.
Based on a study on the items on which the US and China have imposed high tariffs, the commerce ministry has identified 203 products where exports could be increased to the US, replacing Chinese goods; and 151 items where exports to China could raised.