US tariff hike threatens Kashmir exports: KCCI

Srinagar, Apr 9: The Kashmir Chamber of Commerce and Industry (KCCI) has formally appealed to the Government of India for financial intervention after the United States implemented a substantial 26% tariff on Indian imports, effective today.

The new duty represents a dramatic increase from the previous 0-4% rate.

KCCI President Javid Ahmad Tenga warned that the sudden policy shift will create significant financial pressure on American importers, who are likely to extend payment timelines to Indian exporters as they absorb these higher upfront costs. This could severely impact cash flow for exporters across India, with particular concern for Kashmir's renowned heritage handicraft industry.In response to these challenges, the Chamber has specifically requested a 5% interest subvention programme to support affected exporters. The KCCI emphasised that without such relief measures, many export businesses—especially smaller operations—may struggle to survive the financial strain.

"Kashmir's distinctive artisanal products, including intricate carpets, fine embroidery, sophisticated wood carvings, and luxurious Pashmina creations, represent not only significant export revenue but also centuries of cultural tradition. These specialty items provide livelihoods for thousands of skilled artisans throughout the Kashmir Valley."

The KCCI expressed confidence that Prime Minister Narendra Modi will intervene to protect exporters' interests, noting the vital economic role they play and the Prime Minister's commitment to promoting trade and commerce.