India is taking steps to diversify its exports and boost domestic demand to support exporters hit by “unilateral action” taken by a country, commerce minister Piyush Goyal said on Friday.

It was Goyal’s first public comment since the doubling of US tariffs on Indian goods to up to 50 per cent that took effect this week.

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.

“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,” he said.

Trade talks

About the proposed trade agreement with the US, the minister said, “We are talking to the US for a BTA. We have plans to complete the first phase of the BTA by fall (October-November) of this year.”

Goyal added that India and Africa should look at doubling bilateral trade by 2030 from the current level of $82 billion.

He also called for increasing cooperation in areas such as critical minerals, agriculture, technology and manufacturing.

A proposed free trade agreement with Oman will be finalised soon, Goyal said, and Qatar also wants to negotiate a pact with India. Negotiations with the EU are moving at a faster pace, he added.