India’s cabinet approves $5.1 billion support for exporters, including $2.3 billion in credit guarantees. Measure aims to counter recent U.S. tariff hikes, which hit sectors like textiles, jewellery, and seafood hard. Program includes credit guarantee scheme for collateral-free bank loans up to 500 million rupees to boost competitiveness and explore new markets. India’s exports to U.S. face cost disadvantage, with September exports falling 12% year-on-year. Trump indicates potential deal with India to expand ties and reduce tariffs.

Read more at Yahoo Finance: India approves $5.1 billion package for exporters after US tariffs hit