Fast increase in US tariffs will kill exporters in Karnataka, especially MSMES: FKCCI

The Federation of the Karnataka Chambers of Commerce and Industry (FKCCI) expressed serious concern over the decision of 25% to 50% to increase tariffs on some imports by the United States on Thursday.

“This rapid growth in tariffs will greatly affect our exporters, especially MSMEs, which build the backbone of industrial and manufacturing sectors of India,” Uma Reddy said, senior vice president of FKCCI, Uma Reddy said. Hindu.

With a low room to absorb tight margin and cost shock, MSMEs were particularly unsafe for such policy changes, said, “Increased duties will make Indian goods less competitive in the US market, possibly declining export orders, declining cash flow and slowing down in production.”

However, Ms. Reddy said that FKCCI would also want to consider it as a significant turn for the Indian industry.

Recurrence

He said, “Tariff Hike, challenging, push our MSMEs to re -order and reduce dependence on a single market. We encourage our members to detect new geography, increase product innovation and to invest in quality and compliance to meet diverse global standards,” they urged to export MSMEs.

According to Ms. Reddy, the situation brought by Mr. Trump was an opportunity for India to claim its position as a reliable, agile and value-driven manufacturing hub.

“We are confident that the Center will interact with the US administration in the coming days and interact before the new tariff is implemented. A strategic dialogue at the right time can help protect Indian commercial interests, especially for MSMES,” he said.

Government. Ask for help

He also urged the government to support the exporters community through policy intervention, export incentive, and better logistics and finance access.

“Committed to inclusive development as a top chamber, FKCCI was firm with MSMEs in Karnataka in navigating this developed global trade scenario,” said Ms. Reddy.

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