The Uttar Pradesh government is preparing a special relief package for industries affected by the impact of US tariffs. Minister for Micro and Small Industries, Rakesh Sachan, stated that no industry will be allowed to shut down. The package will be formulated by taking suggestions from industries in Bhadohi, Kanpur, Moradabad, and Noida.
U.S. Tariff: The Uttar Pradesh government is planning to provide a special relief package to protect industries affected by US tariffs. Rakesh Sachan, Minister for Micro, Small Industries, and Textiles, held a meeting with industry representatives and officials at the Carpet Expo Mart in Bhadohi to gather suggestions. The government will also hold meetings in Kanpur, Moradabad, and Noida to prepare a package tailored to the needs of industries, ensuring that no industry is forced to close.
Industry Department Meeting in Bhadohi
Minister Rakesh Sachan held a meeting at the Carpet Expo Mart in Bhadohi with officials from the industry department, the Carpet Export Promotion Council, and public representatives. Suggestions were taken from the industries during the meeting, and the framework for the relief package will be prepared based on these inputs. He stated that as per the directives of Chief Minister Yogi Adityanath, the outline of the package will be developed keeping in mind the views of all industries.
Following the meeting in Bhadohi, Minister Rakesh Sachan announced that meetings will also be organized in Noida, after Kanpur, Moradabad, and Bhadohi. In these meetings, the state government, with the assistance of the central government, will announce an additional package to tackle the crisis caused by US tariffs. This step is expected to provide much-needed relief to Uttar Pradesh's export-oriented industries and small businesses.
Package Based on Suggestions from Various Industries
The minister said that the government is taking the concerns of the industries very seriously. The carpet industry had requested a special package of 10 percent. Now, suggestions from other affected industries will also be incorporated to formulate a package with a specific percentage. He informed that approximately 60 percent of the country's carpet exports go to America. Due to this, the impact of US tariffs is significant, and discussions are also being held with the central government in this regard.
US Tariff and its Impact on India
The US President announced a 25 percent tariff on India at the end of July. Additionally, there was talk of imposing a separate penalty on India for purchasing crude oil from Russia. Under this, an additional 25 percent tariff was implemented on India from August 27. In total, a 50 percent tariff has now been applied to Indian exports.
Rakesh Sachan stated that this crisis is substantial, and in this situation, no industry will be allowed to shut down. The Uttar Pradesh government will prepare a relief package keeping in mind the suggestions of the industries. This will include not only financial assistance but also steps towards simplifying various facilities and procedures.
Industries to Receive Relief Package
The objective of the special package is to mitigate the impact of US tariffs and protect export-oriented industries from financial pressure. Under this, various industries will be provided with financial assistance and other reliefs. This move is considered crucial for maintaining employment and continuing the operations of industries in the state.
Collaboration Between Central and State Governments
The minister informed that both the Uttar Pradesh government and the central government are jointly considering this special package. This will benefit micro and small industries as well as large industries. It will help in protecting export-oriented industries from losses and maintain economic stability in the state.
Rakesh Sachan reiterated that all industries in the state will not be left alone in this crisis. The state government will announce a special package for industries affected by US tariffs. This will ease operations for industries and ensure stability in export trade.
