These duties will come into force from April 9.
Skoda Auto India, the Czech carmaker that has recently found success with its compact SUV Kylaq, says it remains committed to developing a fully localised electric vehicle (EV). The EV will be manufactured at its Chakan facility for both Indian market and exports.
The Indian industry is paranoid about the USA's plan to impose reciprocal tariffs and wants early conclusion of a bilateral trade agreement, sources said on Wednesday. They said that the talks for the proposed bilateral trade agreement are going well.
Essential and strategic items such as pharmaceuticals, semiconductors, copper, and energy products like oil, gas, coal and LNG are exempted from the 27 per cent import duty announced by the US on Wednesday, according to think tank GTRI.
Reserve Bank on Wednesday cut India's growth forecast to 6.5 per cent from 6.7 per cent estimated earlier for the current financial year on account of impact of global trade and policy uncertainties. Prospects of agriculture sector remain bright on the back of healthy reservoir levels and robust crop production in 2025-26, RBI Governor Sanjay Malhotra said while unveiling the outcome of the first bi-monthly Monetary Policy Committee meeting for the current financial year.
The lawmakers also hailed the strong strategic partnership between India and the US during a meeting with an all-party delegation led by Congress MP Shashi Tharoor, who briefed them on the cross-border terrorism faced by India and the country's strong and resolute stance in the fight against terror.
India and the visiting US officials have decided to hold a wrap-up session on Saturday morning to conclude the three-day talks on the proposed bilateral trade agreement, government sources said. They said the discussions are at a "very" early stage.
Defence stocks have been on a tear, with the Nifty India Defence index hitting all-time highs. Over the past week, the index jumped around 7 per cent, far outpacing the flat performance of the Nifty 50. Over the past month, its 12 per cent gain has trebled the benchmark's return.
Amid the ongoing global tariff war, Reserve Bank Governor Sanjay Malhotra on Wednesday said he is more worried about its impact on growth than inflation. Speaking to the media after presentation of the first bi-monthly monetary policy for the current financial year, Malhotra said, RBI has reduced the growth forecast for 2025-26 by 20 basis points to 6.5 per cent.
The Uttar Pradesh government and iPhone maker Foxconn have started discussions to set up an electronics manufacturing unit in the state, sources aware of the development said. The investment pitch was made by Invest UP to Foxconn at the time of the final land allocation for the HCL-Foxconn chip joint venture Vama Sundari.
Call centres, once the engine room of India's BPO exports, are evolving too. Depending on the complexity, 30 to 50 per cent of voice and chat volumes are now handled by conversational AI.
US President Donald Trump on Thursday claimed that India has offered to drop all tariffs on American goods. Speaking at a business roundtable in Doha, Trump also said he had a "little problem" with Tim Cook, and he told the Apple CEO that he does not want him to build iPhones in India.
A government official said India and the US are exploring an interim trade deal within 90 days.
The US is expected to push for sweeping changes in India's policies, ranging from tariff reductions to regulatory overhauls, that could benefit American firms and exporters, under the proposed bilateral trade agreement with India, think tank GTRI said on Sunday.
Apple's ambitious strategy to expand iPhone exports, shift more production from China to India at a faster pace, and grow its domestic market hits a Trump-sized roadblock.
India maintains "high" import duties on a wide range of American goods such as agricultural items, drug formulations, and alcoholic beverages, besides imposing non-tariif barriers, a US report has said. A day before announcing reciprocal tariffs, the US Trade Representative (USTR) released the 2025 National Trade Estimate (NTE) Report on March 31.
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.
As a panel of senior ministers deliberates on the need to review curbs on exports of some rice varieties, data shows that since outbound shipments saw restrictions in July-August last year, the non-basmati segment has suffered more than basmati exports. Sources said the panel is expected to soon deliberate on a few suggestions to ease the export curbs on some rice varieties due to higher-than-required stocks in the central pool. The panel, some observers feel, may also postpone the decision to ease the export curbs till a firm picture emerges on the latest kharif paddy sowing.
An Indian official team is likely to visit Washington next week to iron out differences on certain issues before formally launching negotiations for the proposed India-US bilateral trade agreement (BTA), an official said. The visit, which comes within weeks of a high-level US team visiting India, indicates that the talks for the BTA are gaining momentum.
'All competitors are sourcing within the country, so we'll be at the same level of competition.'
'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.'
After lagging behind the broader market over the past three and six months, defence sector stocks have regained ground, reversing their performance from the past month. Concerns about slowing order inflows, execution hurdles, supply chain disruptions, and high valuations had weighed on the sector.
Technology giant Apple Inc has pushed the pedal on exporting iPhones from India by racking up exports valued at over $2 billion in the first two months of the current financial year (FY25), according to the data provided by vendors to the government. This accounts for 81 per cent of the country's total production of iPhones worth $2.6 billion. In May, Apple repeated its performance of April and once again crossed $1 billion of iPhone exports.
Several multinational medical device makers are focusing on deepening their presence in India by expanding their local manufacturing footprint and research capabilities, a move that can catapult India into a strategic hub for the medical technology (medtech) industry. Among those increasing their reach in the country are Siemens Healthineers and Philips, signalling a broader shift from India being only a sales destination to becoming a global production and innovation base.
Auto parts exports from India may see a slight slowdown as US President Donald Trump's 25 per cent tariff could increase car prices for buyers by 8-25 per cent, thereby affecting demand, experts believe.
The rupee has held its ground against the US dollar in the 2025 calendar year so far, but depreciated significantly against the euro and pound. It fell by 6.83 per cent, and 5.44 per cent against the euro and pound respectively, as the two currencies strengthened significantly against the greenback during the period.
Domestic steel prices have seen an increase over the past couple of months in anticipation of a safeguard duty, but a looming global trade war is likely to weigh as threat of import rises and prospect of export flounders. Data from BigMint showed that in March 2025, hot rolled coil (HRC) prices ex-Mumbai increased by Rs 600 per tonne month-on-month (M-o-M), rising from Rs 48,400 per tonne in February to Rs 49,000 per tonne.
Here is a list of Q & As to explain these issues and implications of the US move.
From the Sensex firms, Tata Steel, Power Grid, NTPC, Kotak Mahindra Bank, Reliance Industries and Adani Ports were among the biggest gainers. Asian Paints and Tata Consultancy Services were the only laggards.
Moody's Ratings on Wednesday said US tariffs will weaken credit conditions and raise defaults risks especially for low-rated and speculative grade corporates. It said that an unpredictable US trade policy will lead to a deterioration in global credit conditions and macroeconomic impact will slow growth with a growing possibility of recession.
The five largest exporters of major arms in 2020-2024 were the US (43 per cent), France (9.6 per cent), Russia (7.8 per cent), China (5.9 per cent), and Germany (5.6 per cent).
Hero MotoCorp on Tuesday posted 24 per cent increase in consolidated profit after tax at Rs 1,169 crore for the fourth quarter ended March 31, 2025 riding on higher margins backed by better product mix, parts revenue and cost effectiveness. The company had reported a consolidated profit after tax (PAT) of Rs 943 crore in January-March FY24.
The domestic stock market this week would monitor the geopolitical developments after India and Pakistan reached an understanding to stop military actions, analysts said. Moreover, macroeconomic data announcements, Q4 earnings, trading activity of foreign investors and global market trends are also likely to influence sentiments, traders said.
India on Monday imposed a 12 per cent provisional safeguard duty for 200 days on five steel product categories, including hot rolled coils, sheets and plates, to protect domestic players from surge in imports. The decision follows a recommendation for the same by the Commerce Ministry's investigation arm DGTR. Last month, the DGTR suggested to impose the duty.
India and the US have decided to hold sector-specific talks in the coming weeks to finalise the structure of the proposed bilateral trade agreement (BTA), the government said on Saturday. The engagement between the two countries came in the backdrop of the USA's threat to impose reciprocal tariffs on its key trading partners, including India, on April 2.
As in-person negotiations between India and the US kickstarted on Wednesday, Treasury Secretary Scott Bessent said he expected India to strike the first bilateral trade deal to avert President Donald Trump's reciprocal tariffs.
India's three-wheeler exports, which have been on a downhill trajectory over the past few years, are showing no signs of recovery in FY25, with key markets like Sri Lanka, Bangladesh, Nigeria, and Egypt witnessing subdued demand. In May, the country's exports plummeted 11.3 per cent year-on-year (Y-o-Y).
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.
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