'It was like rigorously preparing for a solid, good exam...' 'I don't know what marks I will get, but I felt the rigorous preparation of an exam.' 'You may sweat, but I feel rejuvenated.'
The US retaliatory tariffs are a major setback for the Indian gems and jewellery exports, apex industry body GJEPC said on Thursday as it urged the government to take steps to secure the long-term interest of the sector. The US has announced 27 per cent reciprocal tariffs on India saying New Delhi imposes high import duties on American goods, as the Donald Trump administration aims to reduce US' trade deficit and boost manufacturing.
'One Chinese interlocutor said India should realise that "China can do without India, but India could not do without China", pointing to its inability to do without Chinese intermediates and components,' former foreign secretary Shyam Saran discovers on a visit to China.
'In my 26 years at Raj Bhavan, working with more than ten governors, I can tell you C P Radhakrishnan Sir stands out.'
India-US relations, like Rome, were not built in a day, nor can they be demolished in a day.
All said and done, when the new global order emerges, India can only remain with the democracies, asserts Ambassador T P Sreenivasan.
From toys, footwear and furniture to insulated flasks, smart meters, and air coolers - the Central government over the last decade has mandated higher standards for production and imports of such items. Sample this: Till 2014, there were 14 Quality Control Orders (QCOs) covering 106 products. By the latest count, there are 156 QCOs on 672 products.
A year after a Hamas attack against Israel on October 7 and the ensuing Israeli invasion of the Gaza Strip, India's trade with most West Asian countries has largely escaped any major disruption, except with countries like Israel, Lebanon, and Jordan. However, repeated flare-ups of geopolitical tensions in the region continue to drive up shipping and logistics costs.
The government on Tuesday notified the Rs 22,919 crore scheme to promote domestic manufacturing of electronics components, display and camera modules, non-surface mount devices, multi-layer printed circuit boards and lithium-ion cells for digital applications, among others. The scheme is likely to be operationalised in the next 2-3 weeks.
The move came against the backdrop of Turkiye backing Pakistan and its condemnation of India's strikes on terror camps in the neighbouring country and Pakistan-occupied Kashmir under Operation Sindoor.
Trump may temper his approach from time to time, but to think that he will change his basic philosophy is delusional, asserts T T Ram Mohan.
Industry associations and companies in the United States, including the US Chamber of Commerce, Coalition of Services Industries and the iconic bike company Harley Davidson have called on the Donald Trump dispensation to push India to reduce tariffs, non-tariffs, and regulatory barriers to boost American exports.
'We have to be prepared for the larger disruption that is likely to take place.'
'That combination of a rising economy, a growing middle class, and a deepening love of diamonds and jewellery is what we see really doubling the market for diamonds over the next five years.'
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.'
As India's tea exports reach their highest in years, a sharp rise in imports is raising concerns among producers. In 2024, India took the third spot in tea exports, pipping Sri Lanka after exporting 254.67 million kg (mkg) of tea, up from 231.69 mkg in 2023.
'As the global economy undergoes significant transformations in 2025, India's ability to navigate the complexities of trade wars, financial realignments, and emerging blocs will be pivotal,' explain Harsh V Pant and Soumya Bhowmik.
Leaders of Pakistan, Turkey and Azerbaijan agreed to strengthen their ties for the mutual benefit of their peoples, as well as for regional peace and prosperity. The understanding was reached at the Pakistan-Turkey-Azerbaijan trilateral summit in Lachin, Azerbaijan, attended by Prime Minister Shehbaz Sharif alongside presidents Recep Tayyip Erdogan and Ilham Aliyev. Azerbaijan announced a USD 2 billion investment in Pakistan's economy. Turkey expressed support for the ceasefire between Pakistan and India and hopes that it evolves into permanent peace.
India's policy for agriculture trade must move commodity-by-commodity to gain maximum benefits as US President Donald Trump's 26 per cent tariff on exports from the country take effect, said agriculture economist Ashok Gulati in a recent policy paper.
Unless something changes, Mr Trump is a huge threat right now, which is perhaps not being recognised fully, cautions Debashis Basu.
China on Tuesday retaliated US President Donald Trump's imposition of 2nd round of ten per cent tariffs on its export by slapping an additional 15 per cent tariffs on American goods and initiated legal action against Washington in WTO while leaving the door open for talks to address each other's concerns.
Mahindra & Mahindra chairman emeritus Keshub Mahindra passed away this morning in Mumbai due to old age. Mahindra, 99, breathed his last this morning at home peacefully, said a person close to the family. After joining the company in 1947, he became the chairman in 1963.
Trump's sweeping tariffs and penalties on China-built ships have turned global shipping into the front line of economic war, observes Shyam G Menon.
Indian drugmakers supply 47 per cent of the generic medicine requirements in the US, and tariffs would have increased prices in the US domestic market for patients, who are already dealing with drug shortages.
'It is high time that the 'war on terror' is removed from our diplomatic toolbox.' 'Certainly, our parliamentarians have no role in it,' asserts Ambassador M K Bhadrakumar.
The trigger for international gold prices rising to $3,000 per ounce was Germany's upcoming heavy government borrowing.
Gold prices could hit the $3500 an ounce (oz) mark in the next 18 months - up around 13 per cent from the current levels - given the global uncertainties and aided by investment demand, said analysts at BofA Securities in a recent note. Uncertainty around Trump Administration trade policies, BofA said, could continue to push the US dollar (USD) lower, further supporting gold prices near-term.
Mint Road, on December 21, 2023, flagged the role of self-regulatory organisations (SROs) in strengthening the compliance culture in regulated entities (REs) and providing a consultative platform for policymaking. It also decided to issue an omnibus framework for SROs.
The Budget assumes significance as it comes on the back of lower-than-expected growth numbers during the second quarter and geopolitical uncertainty.
As RBI governor, Sanjay Malhotra will have to give the highest priority to the interest of the economy while deciding on the growth-inflation trade off at Mint Street.
Exporters on Thursday sought a fund of Rs 750 crore for three years to tap USD 25 billion export potential in the US, aiming to seize potential opportunities that may arise as the US President-elect, Donald Trump, has threatened to impose high tariffs on Chinese goods. In its pre-Budget meeting with the finance ministry, Federation of Indian Export Organisations (FIEO) President Ashwani Kumar has also demanded extension of the five per cent Interest Equalisation Scheme (IES).
'He needs to see results while he is in office.'
The government has decided to postpone the release of the new Foreign Trade Policy (FTP) and extend the existing one by six months on account of global uncertainties and currency fluctuations. The government was scheduled to announce the new FTP by the end of September. The current policy was to end on September 30.
Prime Minister Narendra Modi and French President Emmanuel Macron have called for enhancing trade and investment ties between their countries and committed to further deepening their engagement in the Indo-Pacific. They discussed a full spectrum of bilateral relations, including key global and regional issues, and stressed the urgent need for reform in the United Nations Security Council. The leaders also underscored their commitment to ensuring the global AI sector can drive positive social, economic, and environmental outcomes.
'We may see even more restrictive policies during 2.0.'
Another priority in the first 100 days could be the launch of an e-platform -- Trade Connect -- to help exporters connect with stakeholders of international trade.
Gold, a safe-haven bet, is likely to continue its record-smashing journey in the New Year, rising to Rs 85,000 per 10 grams and even Rs 90,000 level in domestic markets if geopolitical tensions and global economic uncertainties continue.
Why has the shift from ICE to electric slowed down despite initial enthusiasm?
India's merchandise exports in October rose by 17.25 per cent to $39.2 billion against $33.43 billion a year ago, according to government data released on Thursday. Imports increased by 3.9 per cent to $66.34 billion in October compared to $63.86 billion in the year-ago period.
The rising dependence on discounted crude oil has resulted in India's trade deficit with Russia hitting the second-highest place last year, after China, reveals Department of Commerce data. From April through January 2022-23 (FY23), India's maximum trade deficit was with China, at $71.58 billion. This was followed by Russia, where the deficit expanded sevenfold - from $4.86 billion in April-January of 2021-22 (FY22) to $34.79 billion during the same period in FY23.
Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
