New Delhi, Sept. 13 -- The Engineering Export Promotion Council (EEPC), India, has urged the government to reinstate the Interest Equalisation Scheme (IES), ensure affordable export financing, and provide support to offset the impact of punitive US tariffs on Indian engineering exports.

In a meeting with Reserve Bank of India (RBI) Governor Sanjay Malhotra, EEPC India Chairman Pankaj Chadha highlighted the sector's vulnerability, noting that India's engineering exports to the US average around USD 20 billion, accounting for roughly 45 percent of total exports exposed to US tariffs.

He emphasised the need for urgent government intervention to help exporters absorb the financial impact.

Chadha specifically urged the reinstatement of IES,...