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Parliamentary Panel in Coimbatore Probes Impact of US Tariffs on Indian Industry

A 16-member Parliamentary Standing Committee, chaired by Dola Sen, is holding consultations in Coimbatore to assess the severe stress on Indian industries caused by a 50% tariff imposed by the United States. The committee is visiting industrial hubs to gather direct feedback, with a focus in Coimbatore on the textile sector and other economic challenges. Former US President Donald Trump acknowledged his good relationship with Prime Minister Narendra Modi but noted Modi's unhappiness over the high tariffs linked to India's purchase of Russian oil. The panel's study aims to understand the damage and explore solutions, with further discussions planned with banking and state government officials.

Key Points: Panel Studies US Tariff Impact on Indian Industry in Coimbatore

  • Assessing 50% US tariff impact
  • Reviewing India-US trade relations
  • Focusing on textile sector in Coimbatore
  • Studying economic challenges like dollar fluctuations
  • Engaging with industry and government stakeholders
2 min read

Parliamentary panel holds consultations in Coimbatore on US tariffs' impact on Indian Industry

A parliamentary committee consults Coimbatore industrialists on the impact of 50% US tariffs and India-US trade relations, focusing on textiles.

"I have a very good relationship with PM Modi, but he is not happy with me as India is paying high tariffs. - Donald Trump"

Coimbatore, January 8

A Parliamentary Standing Committee comprising 16 Members of Parliament held consultations with industrialists in Coimbatore to assess the impact of India-US trade relations and the consequences of the 50 per cent tariff imposed by the United States on Indian goods.

Following the assumption of office by former US President Donald Trump, a 50 per cent tariff was imposed on Indian exports, pushing several sectors of Indian industry into severe stress.

The Parliamentary Standing Committee, headed by Rajya Sabha MP Dola Sen, was constituted to study the impact of this tariff and review India-US trade relations.

The committee has been visiting key industrial hubs since January 6, including Visakhapatnam, Chennai, and Coimbatore, to interact with industry stakeholders and gather feedback directly. After completing consultations in Visakhapatnam and Chennai, the committee arrived in Coimbatore on Thursday.

Speaking to reporters at Coimbatore International Airport, committee coordinator Dola Sen said the panel comprises 16 MPs and is studying the impact of the US tariff hike on Indian industries, fluctuations in the dollar's value, and other related economic challenges.

She said the objective of the visit is to understand the extent of damage caused to various sectors and explore possible solutions.

She added that during their visit to Chennai, the committee discussed issues faced by the automobile and leather industries. In Coimbatore, the focus will be on the textile sector along with an assessment of other industrial challenges.

The committee is also scheduled to hold discussions with banking officials and Tamil Nadu government authorities as part of its study.

Earlier, US president Donald Trump on Wednesday reiterated his "good relationship" with Prime Minister Narendra Modi. However, he underscored PM Modi's unhappiness over the high tariffs imposed on India for purchasing Russian oil.

At the House GOP Member Retreat, Trump discussed his exchanges with PM Modi regarding US defence sales and tariff measures. He suggested that although relations remain cordial, the tariff issue has created tension.

"I have a very good relationship with PM Modi, but he is not happy with me as India is paying high tariffs. But now they have reduced it very substantially, buying oil from Russia," Trump said.

The tariffs, totalling 50%, were imposed due to India's significant purchases of Russian oil, which the US sees as supporting Russia's economy amid the Ukraine conflict.

- ANI

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Reader Comments

P
Priya S
This is very worrying for MSMEs. My uncle runs a small auto parts unit in Chennai and orders have slowed down. The 50% tariff is brutal. 🇮🇳 Hope the committee's report leads to some concrete support from the government, maybe tax relief or easier loans.
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Aman W
Trump's statement says it all. He admits we have a good relationship but uses tariffs as a tool. We bought Russian oil because it was economical for our people. Should we let our citizens pay more for fuel to please another country? Tough spot.
S
Sarah B
Interesting to see the direct link between geopolitics and local industry. The Coimbatore textile sector getting caught in a US-Russia-India triangle. Time to diversify exports and reduce dependency on any single market.
V
Vikram M
Respectfully, while the committee's work is important, we've seen many such studies. The real need is for swift diplomatic resolution and maybe offering incentives for industries to explore markets in Africa, ASEAN. Jai Hind!
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Nisha Z
The focus on textiles in Coimbatore is crucial. So many livelihoods depend on it. But what about the engineering and pump sector here? Hope they get a hearing too. We need a balanced approach for all affected industries. 🙏

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