'This has translated into a combined daily loss of 60 crore in revenues for exporters in Tiruppur, Coimbatore, Erode and Karur districts, pushing many small and medium enterprises to the brink of collapse.'
India's pharmaceutical exports have shown robust growth, reaching over USD 28 billion, despite global economic challenges. The sector is projected to reach USD 130 billion by 2030.
The Indian government has imposed import restrictions on all forms of gold, silver, and platinum articles to prevent misuse of free trade agreements (FTAs). The restrictions apply immediately, regardless of prior contracts or commitments.
European Commission President Ursula von der Leyen says India and the EU are close to a 'historic trade agreement' that could create a market of two billion people and account for almost a quarter of the global GDP.
The government has suspended its directive requiring airlines to offer at least 60% of seats on flights without additional charges, following industry concerns about the impact on fares and pricing structures.
Trump said that the decision would be "immediately" in effect and that the "order is final and conclusive."
The Indian rupee rebounded against the US dollar after the Reserve Bank of India (RBI) restricted banks' net open positions in dollars. This move prompted banks to sell dollars, providing temporary support for the rupee amidst ongoing geopolitical tensions and rising oil prices.
Representatives Deborah Ross of North Carolina, Marc Veasey of Texas and Raja Krishnamoorthi of Illinois introduced the resolution on Friday in the House of Representatives to terminate Trump's national emergency authorising tariffs of up to 50 per cent on imports from India, helping to restore Congress' constitutional authority over trade.
'India should understand that we are not going to make the same mistakes with India that we made with China 20 years ago.'
The United States Trade Representative (USTR) office on Wednesday launched a sweeping investigation into manufacturing and industrial practices in 16 economies, including India, citing concerns over what it calls 'structural excess capacity' that could distort global trade. Announcing the move on a White House press call, Jamieson Greer said the probe would be conducted under Section 301 of the Trade Act of 1974, one of Washington, DC's most powerful trade enforcement tools.
Hotel room rates in Ahmedabad have increased significantly ahead of the India-New Zealand T20 World Cup final, with some tariffs rising by 300-400%. The surge is driven by high demand from cricket fans travelling to the city for the match.
Hotel room rates in Ahmedabad have increased significantly ahead of the India-New Zealand T20 World Cup final, with some tariffs rising by 300-400%. The surge is driven by high demand from cricket fans travelling to the city for the match.
India is closely monitoring developments related to a proposed American legislation that seeks to impose up to 500 per cent tariff on countries procuring Russian crude oil.
Indian companies, however, are now paying a premium of $6-$7 a barrel for Russian oil, compared with discounts of $8-$10 a barrel before the start of the conflict.
The Congress has strongly criticised the US government's temporary waiver allowing India to purchase Russian oil, raising concerns about continued 'American blackmail' and its impact on India's energy policy.
'Engaged in very fruitful discussions to expand our trade and economic partnership.'
India and the US have decided to reschedule their meeting to finalize the interim trade pact due to recent developments and implications, including changes in US tariffs.
A new poll indicates that President Donald Trump's approval rating is suffering as economic anxieties and the rising cost of living weigh heavily on US voters, revealing deep political divides and widespread dissatisfaction with the government.
US President Donald Trump announced a new global levy on imported items, resulting in a lower tariff rate for India, following a Supreme Court verdict against his previous sweeping tariffs.
President Donald Trump on Friday signed an executive order retroactively lowering tariffs on a range of agricultural imports, including beef, tomatoes, coffee and bananas, with the change taking effect from November 20, CNN reported.
Donald Trump's inconsistent statements and actions regarding the conflict with Iran have drawn criticism and confusion, raising questions about American credibility and the direction of US foreign policy.
AICC President Mallikarjun Kharge criticised Prime Minister Narendra Modi's relationship with US President Donald Trump, alleging that Modi is acting as Trump's 'slave' and jeopardising India's interests on trade, oil and foreign policy.
After the US Supreme Court struck down President Donald Trump's global tariffs, Congress leader Rahul Gandhi accused Prime Minister Narendra Modi of being "compromised", saying his "betrayal" in the India-US interim trade deal stood exposed.
Analysts predict continued volatility in Indian equity markets due to domestic macroeconomic data, F&O expiry, global developments including US tariff policies, and geopolitical tensions.
Amidst escalating tensions with Iran, the US has granted India a temporary 30-day waiver to continue purchasing Russian oil, aiming to stabilise global energy markets and encourage future US oil imports by India.
Shares of Waaree Energies and Premier Energies are under pressure after the US imposed initial duties on Indian solar imports. The article examines the impact on green energy stocks and market sentiment.
Mexico on Thursday imposed a tariff of up to 50 per cent on imports from its non-preferential trade partners, including India, a move that might hit New Delhi's annual $5.75 billion shipments to its third-largest car export market.
Do not exit in panic or buy falling stocks without reassessing fundamentals; instead, build a watchlist and invest gradually with a disciplined, long-term approach.
There are hopes of a turnaround in overall corporate earnings after six quarters of single digit growth.
Indian officials will visit the US to finalise the legal text for an interim trade agreement, expected to be signed in March, focusing on duty concessions and reciprocal tariffs.
Tata Steel is strategically positioned for growth, leveraging India's robust steel demand, significant cost transformation programmes, and favourable protectionist policies in the EU and UK. The company is expanding its India capacity and optimising operations in its European units to enhance profitability and reduce debt.
Commerce and Industry Minister Piyush Goyal announced that an interim trade agreement between India and the US is likely to be signed in March and operationalised in April, with chief negotiators meeting in Washington to finalize the details.
US Energy Secretary Chris Wright said that long-term oil supplies are 'abundant' and there are no worries regarding that, but in the short term, there is a need to get oil on the market.
The deal shifts the US posture towards India from hostile to neutral, and that matters for growth, points out T T Ram Mohan.
Customs officials at Delhi's Indira Gandhi International Airport have thwarted two separate gold smuggling attempts, seizing over 3.17 kg of gold worth approximately Rs 4.35 crore and arresting three foreign nationals.
The tariff removal will lower prices of Harley's large-displacement imported motorcycles, which retail between 14.5 lakh and 45.8 lakh but after the duty cut volumes are expected to remain modest.
The US has granted India permission to buy Russian oil already in transit to ease global supply pressures amidst the West Asia conflict. This decision comes after India agreed to halt sanctioned Russian oil purchases and substitute them with US oil.
India's merchandise exports to the US contracted 21.77 per cent to $6.6 billion in January due to high tariffs imposed by America, according to the Commerce Ministry data. Exports contracted in September, October and December last year also. However, it rose 22.61 per cent in November.
Piyush Goyal on Friday rejected reports suggesting that India is planning to hold off trade deal with the United States for several months.
'What we are willing to do is definitely going to depend on what the Indian government wants to do.'
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