India Approves $5 Billion for Exporters Hit by Harsh US Tariffs
Stacked shipping containers at the Jawaharlal Nehru Port in Navi Mumbai, Maharashtra, India.
Photographer: Dhiraj Singh/BloombergIndia announced relief measures worth more than $5 billion for its exporters pummeled by steep US tariffs, even as the two nations continue working toward a trade deal.
The federal cabinet approved collateral-free loans worth 200 billion rupees ($2.3 billion), it said in a statement Wednesday. Another 250.6 billion rupees will be handed out over the next six years through a program that seeks to improve access to trade finance, ease compliance and logistics.