The move by the US President came following a retaliatory move by China, where it increased its tariff on US goods from 34 per cent to 84 per cent starting April 10.
The commerce ministry is working on different scenarios to assess the possible fallout of reciprocal tariffs to be imposed by the US administration on April 2 on its key trading partners including India, sources said. US President Donald Trump has said that April 2 will be 'Liberation Day' as he plans to announce tariffs or import duties to bring down America's trade deficit, and promote the country's manufacturing.
The call lasted approximately one and a half hours, and resulted in a very positive conclusion for both countries.
Many industry executives have said the draft e-commerce policy is being perceived as nationalistic but not overly protectionist and it is providing preference to Indian players against foreign companies. This might have an impact on investment by large players such as Walmart and Amazon in the country, said the executives. They said e-commerce was a very small portion of the retail industry and at a nascent stage and did not require heavy hammer regulations. Though the policy talks about being equally applicable to foreign and domestic players, it mentions that foreign direct investment (FDI) takes precedence over the e-commerce policy in any area of overlap.
Popular singer Sonu Nigam has reiterated his love for the Kannada people but said he was "threatened" by a group of young men at a recent concert in Bengaluru over language issues. Nigam said he was "threatened" by a group of young men who demanded he sing in Kannada at the concert. He said he will cooperate with police authorities in Karnataka and will accept their verdict.
'The conversation is no longer just about securing funds or acquiring customers but about the long-term value of customers.'
It is still "discounts" that e-commerce players have to rely on to bring in customers, though they might claim otherwise.
India and the United States will finalize the contours, schedule of negotiations, and terms of reference for a proposed bilateral trade agreement (BTA) during a three-day meeting beginning Tuesday. The agreement is expected to be finalized in two tranches, with the first phase focusing on goods trade. The US team, led by Assistant US Trade Representative for South and Central Asia Brendan Lynch, will be in India from March 25-29 to discuss the agreement. Both countries are aiming to conclude the first phase of the agreement by fall 2025.
The writing has been on the wall for some time and it showed up prominently during the festival-season sales last year, when Meesho toppled Amazon to become the second-largest player in order share. During the sales season, 60 per cent of the orders Meesho received were from tier-4 cities and beyond. According to a report by consulting firm Redseer, festival-season sales last year were driven primarily by tier-2 and tier-3 cities, with 64 per cent of the shoppers coming from those.
He went on to say that even though this has not been discussed, he is going to 'increase trade substantially with both of these great Nations.'
India and the US will sit together in the next couple of weeks to decide on the nature of the proposed trade agreement and finalise its broad contours, a senior official said on Monday. During the recent visit of Prime Minister Narendra Modi to Washington, India and the US announced to more than double the two-way commerce to $500 billion by 2030 and negotiate the first tranche of a mutually beneficial, multi-sector bilateral trade agreement (BTA) by fall of 2025.
"India and everybody would think of them as an ally. I can say the same for others. But this is a group of wonderful nations that is countering other countries that look to hurt us on trade," he added.
We have entered a new era in human history, asserts Aakar Patel.
Tharoor's recent remarks on Kerala's industrial growth sparked controversy within the Congress state unit.
Prime Minister Narendra Modi asserted on Tuesday that India's water will no longer flow outside the country but will be utilized in the nation's interest, a statement seemingly directed at Pakistan following his government's decision to put the Indus Waters Treaty in abeyance after the Pahalgam terror attack. Addressing the ABP Network's 'India@2047' Summit, Modi emphasized his government's focus on interlinking rivers, noting that water used to be a source of conflict among states, before alluding to India's stance against Pakistan while discussing water. He highlighted the finalization of the India-UK free trade agreement as a historic milestone and underscored the importance of prioritizing national interest for achieving objectives and realizing the country's potential. Modi highlighted the country's growth and development under his government's rule, emphasizing its focus on welfare schemes and digitalization. He reiterated his government's commitment to 'Nation First' and pointed to the recent reforms undertaken, including the new Waqf law and the ban on triple talaq, which he said were aimed at benefiting the marginalized sections of society.
I'...additional concessions, such as opening government procurement, reducing agricultural subsidies, weakening patent protections, and allowing unrestricted data flows -- demands India has resisted for decades.'
With the festival sales in full swing, e-commerce firms are ramping up hiring to meet the increasing consumer demand. Close to 300,000 new jobs have been created in the sector so far and over 500,000 more jobs are expected to be added till Diwali, according to a report by TeamLease. The demand for gig workers is, however, not restricted to tier-1 cities. Tier-2 and tier-3 cities have seen an increase of 40 per cent, with a higher demand for delivery workers, according to a TeamLease report.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
At 250 million unique visitors a month, MX Player has for long been in the same bracket as YouTube (454 million) and Meta (324 million) in reach.
'Regulatory challenges exist everywhere. What we look for is regulatory stability over time.'
'Domestic investors are opening up to the idea of high-growth Internet companies as a pool of value creation.' 'They like the execution that they see with Zepto, and for us, that is the most important factor.'
US Vice President JD Vance called on India to drop non-tariff barriers, give greater access to its markets and buy more American energy products and military hardware. Vance, in a speech in Jaipur, highlighted the need for a stronger US-India partnership for a prosperous and peaceful 21st century. He emphasized the importance of working together to address global challenges and praised Prime Minister Narendra Modi, describing him as a "special person." Vance also urged India to provide greater market access to American products and buy more defense platforms and energy from the US. He suggested that India consider dropping some of the non-tariff barriers for American access to the Indian market and highlighted the benefits of closer India-US defense collaboration, advocating for New Delhi to procure more military hardware from the US. He cited the example of American fifth-generation F-35s, arguing they would give the Indian Air Force the ability to defend its airspace and protect its people like never before. Vance also welcomed the Modi government's budget announcement to amend India's civil nuclear liability laws, paving the way for US producers to export small modular reactors and build larger US-designed reactors in India. He emphasized the importance of energy security for India's AI ambitions, stating "there is no AI future without energy security and energy dominance." Vance's visit comes amid growing global concerns over the US's tariff war.
Companies have been approached to set up incubation centres that will offer financial and non-financial support to manufacturing startups at various levels.
Prime Minister Narendra Modi and US Vice President JD Vance have expressed satisfaction with the progress made in negotiations for a bilateral trade agreement. The two leaders met in New Delhi and discussed a range of bilateral issues, including cooperation in energy, defense, strategic technologies, and other areas. They also exchanged views on regional and global issues of mutual interest.
rediffGURU Major Inderpaul Singh (retd) offers career guidance and helps students and individuals handle challenges in their professional lives.
Udaan, India's largest business-to-business (B2B) e-commerce company, has received approval from the National Company Law Tribunal (NCLT) for its internal corporate restructuring plan, according to sources. By consolidating into a single entity, the restructuring will enhance Udaan's agility and pave the way for various financing options, including the ability to pursue an initial public offering (IPO) in India by 2026, according to people familiar with the matter.
'Amaravati will be a game changer for Andhra Pradesh.'
The present government had removed the need for clearance from Dhaka for Pakistani heads of missions while issuing visas, Bangladesh high commissioner to Pakistan Iqbal Hussain told the business community here at the Lahore Chamber of Commerce and Industry on Saturday.
Many states are realising that hosting mega events puts the spotlight on them and raises their profile.
India's e-commerce market alone is projected to reach $200 billion by 2026, making it a prime industry for ambitious entrepreneurs, explains rediffGURU Harsh Bharwani.
Will allowing business correspondents to hawk insurance products help in reviving 5-lakh strong field agents as a viable channel?
'No retaliatory tariffs now. You can retaliate after a few months.' 'Today, there is no need to retaliate because it is a question of long term benefits.'
At a time when Flipkart has entered the quick-commerce race with a service called "Minutes", executives at rival players said they are in a wait-and-watch mode. They said they would be concerned only once the e-commerce firm is able to succeed in this space. The Walmart-owned firm's quick-commerce service has gone live in some parts of Bengaluru, putting it in competition with firms such as Zepto, Swiggy's Instamart, and Zomato's Blinkit.
Gem and Jewellery Export Promotion Council says step will balance trade deficit with the US.
The "weaponisation" of economic activity - through tariffs and sanctions - is now a reality, with countries leveraging these tools strategically, External Affairs Minister S Jaishankar said at the Raisina Dialogue recently.
'Pakistan's only concern has been while they were on the FATF watch list was to distance their State institutions and organs from any direct connection with the actual execution of militancy inside Kashmir.'
Richard Verma, the highest-ranking Indian-American official in the State Department, has expressed optimism about the future of US-India ties and emphasized the need to base the relationship on shared values rather than mere transactional dealings. Verma, who previously served as America's Ambassador to India, stressed the importance of the Quad in defending the international order, highlighting its shared commitment to a free and open Indo-Pacific.
'All competitors are sourcing within the country, so we'll be at the same level of competition.'
We need to equip the Indian Armed Forces, not 'commercial' as Trump wants, but 'operationally' looking at growing Chinese military capabilities, asserts Lieutenant General Prakash Katoch (retd).
Trump has made it clear to Prime Minister Modi that India will not be spared from Washington's reciprocal tariffs and emphasised that "nobody can argue with me" on tariff structure.
