India 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.
The move will “strengthen liquidity, ensure smooth business operations, reinforce India’s progress towards achieving the $1 trillion export target,” the government said.
Exporters had been seeking ...