50% tariff by US hits exports by many sectors, says AP Chambers-AP Chambers organises a meeting with its affiliated associations

Andhra Pradesh Chambers of Commerce of Industry Federation (AP Chambers) has expressed serious concern over imposition of 50% tariff by the Trump Administration.

At a meeting organised with its affiliated associations here on Thursday.AP Chambers president Potluri Bhaskara Rao said, “The impact of 50% US tariffs on exports has affected many sectors in AP especially aqua, textiles, agri products and auto components,"

AP Chambers has around 78 affiliated associations representing various sectors in the State. The purpose of the meeting was to discuss the pressing issues faced by different sectors and the impact of US tariffs on exporters.

Rao said the major share of exports from India, around USD 83 billion, are to the US. "We request the Central Government to take measures to diversify exports to other countries to reduce the dependence on the US. The Centre should bring back export subsidies, provide better access to working capital facilities, and offer reduced GST rates to affected sectors," he stated.

The import duty on raw materials should be reduced to make Indian products more competitive in the international markets. Rao added, “The State Government is yet to release incentives that have been pending for the last 5 to 6 years. We have been requesting the State to release the long-pending incentives and we believe that the government is now planning to clear all pending incentives by September. This will provide the much-needed impetus to MSMEs. Also, the fuel and power charges are very high in AP compared to neighbouring states. We have been requesting the government to bring down fuel and power charges to enable our industries to compete with industries from other States.

AP Chambers general secretary B. Raja Sekhar stated, “The 50% US tariffs have impacted many sectors in AP including engineering. To mitigate the impact of the tariffs, India should reduce its dependence on the US markets. We request the Central Government to bring back schemes such as Marketing Development Assistance (MDA), Market Access Initiative (MAI), Interest Equalisation Scheme (IES), etc. The government should implement the proposed two-slab GST rate structure as it will simplify tax compliance for businesses and provide relief to some sectors.”

AP Chambers treasurer Akkaiah Naidu, Affiliates Council Chairman Bayana Venkat Rao, and Affiliates Council Vice-ChairpersonRadhika participated in the

meeting.