Nagaraju said uncertainty in the global economy had reduced after US President Donald Trump spoke about a trade deal, and recent tariff-related relief has brought back a degree of predictability for Indian industry. He noted that following the earlier 50% tariff hike, the finance and commerce ministries had worked closely with industry to cushion the impact through a trade guarantee scheme for exporters, under which over 4,000 loan applications have been approved and more than ₹1,500 crore disbursed.