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

Coimbatore (Tamil Nadu) [India], January 8 (ANI): 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)