KCCI urges Centre’s intervention for Kashmir exporters in the face of new US tariffs

Srinagar: The Kashmir Chamber of Commerce and Industry (KCCI) on Thursday appealed to the Government of India for immediate intervention following the United States’ decision to impose a steep 26% import duty on goods imported from India, effective today. The new tariff structure marks a sharp rise from the earlier 0–4% rate, raising concerns across export-driven sectors in India.

According to the KCCI, the sudden escalation in import costs is expected to create significant financial stress for American buyers, who are likely to delay payments to Kashmiri and other Indian exporters as they recalibrate to the revised cost structure.

Anticipating a looming cash flow crisis for exporters, particularly small and medium enterprises, the KCCI has urged the Government of India to implement a 5% interest subvention scheme. Such a move, the Chamber stated, would help businesses manage short-term liquidity challenges and protect jobs in vulnerable sectors.

“The impact of this tariff hike could be devastating for Kashmir’s heritage handicraft industry,” said Javid Ahmad Tenga, President of the KCCI. “These industries are not just economic assets—they represent centuries of cultural legacy. Artisans who produce world-renowned Kashmiri carpets, Pashmina shawls, woodwork, and embroidery stand to lose their livelihoods without prompt support.”

Highlighting both the economic and cultural significance of the artisanal export sector, the KCCI stressed that government intervention is vital to cushion the blow and preserve Kashmir’s centuries-old craftsmanship traditions.

The Chamber expressed confidence in Prime Minister Narendra Modi’s leadership, stating that it believes the Prime Minister will ensure swift and effective measures to protect exporters’ interests and sustain India’s presence in international markets.

“KCCI firmly believes that the Hon’ble Prime Minister will intervene to safeguard the interests of exporters,” the statement added. “Given the Prime Minister’s vision for trade-led economic growth, we are hopeful of timely support to enable Indian exporters to remain competitive globally.”