The 25 per cent US tariffs, plus a penalty for Russian imports, could dent India's GDP growth by 30 basis points in the current fiscal, but the higher duty is unlikely to significantly affect India's domestic demand-driven economy, Barclays said on Thursday. If the 25 per cent tariff, announced by US President Donald Trump on Wednesday, is implemented from August 1, the effective average US import tariff on Indian goods will rise to 20.6 per cent in trade-weighted terms, as per Barclays estimates.
Communication channels between India and the US are open to resolve the ongoing tariff issues, and the glitch in trade ties is only temporary, given the long-term relationship between the two nations, government sources said on Wednesday. The US' 50 per cent tariffs on Indian exports to America came into effect from August 27, barring a few sectors.
State governments have requested the Centre for export incentives, lifting of import duty in the case of cotton for the textile sector and GST exemptions.
Hectic parleys are underway between officials of India and the US in Washington on the proposed interim trade agreement between the two countries, an official said on Wednesday.
Another season of these legal antics would be welcome, applauds Deepa Gahlot.
To shield against US President Donald Trump's tariff shock, analysts have been advising investors to focus on stocks of domestic-oriented companies, rather than export-centric ones, to minimise potential losses.
Maalik Actor Manushi Chillar has taken her fashion game a notch-up by going desi with most of her outfits and rocking each look while promoting the film.
After two decades of being stuck in a trademark infringement suit, the Delhi high court gave a judgment in favour of Cadbury and restrained an Indian company from selling its products that are similar to Cadbury Gems. Justice Prathiba M Singh told an Indian company on Tuesday to pay Rs 16 lakh damages to British chocolate company Cadbury for infringing the Cadbury Gems trademark. Cadbury (now Mondelez India Foods) had filed a case against the Indian company Neeraj Food Products, who is the defendant, saying it had marketed its product as 'James Bond'.
Commerce and Industry Minister Piyush Goyal will accompany Prime Minister Narendra Modi to London for the signing of the free trade agreement between India and the UK on July 24, an official said on Monday. The two countries announced the conclusion of the negotiations for the trade agreement on May 6.
India's goods exports rebounded in July after two months of contraction, with outbound shipments rising 7.3 per cent to $37.24 billion, led by a surge in exports to the United States before the country's reciprocal tariff kicked in and bolstered by a recovery in exports to other key markets.
'Given the lag in transmission, further softening of lending rates may happen in the coming months.'
India's shrimp sector was pushed into uncertainty following US President Donald Trump's decision to impose a 25 per cent tariff on all goods imported into the US from India.
India's economic growth is expected to be lower at 6.3 per cent this fiscal compared to the RBI's projection of 6.5 per cent, a SBI Research Report said on Thursday. The report pegged the first quarter GDP estimate at around 6.8-7 per cent, mainly due to muted private capex.
'Here are 25 stories special to me for one reason too many,' says Sukanya Verma who scored 25 years writing about the movies last week.
Modi said peace is paramount for development, and the Centre is committed to achieving it.
The Indian government is studying the implications of US President Trump's announcement to impose tariffs on Indian goods and remains hopeful of concluding a bilateral trade agreement.
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'The next decade will be even more transformative,' says Prime Minister Modi. 'We are moving from digital governance to global digital leadership.'
India's economy could reach $20.7 trillion in terms of purchasing power parity (PPP) by 2030 and may emerge as the second-largest economy by 2038 with $34.2 trillion GDP, an EY report said on Wednesday. The report also said that with appropriate countermeasures, India can limit the adverse impact of higher US tariffs on selected Indian imports to about 10 basis points of real GDP growth.
The Bloomberg report suggests that this backchannel communication from President Xi has laid the groundwork for a broader thaw in relations. This overture has since translated into a series of tangible diplomatic actions leading up to the upcoming Shanghai Cooperation Organisation (SCO) summit.
Fijian Prime Minister Sitiveni Rabuka discussed US tariffs on Indian goods with Prime Minister Narendra Modi, noting that "somebody is not very happy with you." The discussion occurred during Rabuka's visit to India to strengthen ties.
Dinesh Raheja celebrates Lata's 96th birth anniversary on September 28 by picking some choice examples of her non-typical songs that are tinged with a rare eroticism.
To those who ask, "Is all this really worth it? Why can't domestic demand fill the gap?", it is important to remind them that only 13 economies since the Second World War have grown at 7 per cent or more for 25 years -- like India needs to. They all had one thing in common: Strong export growth underpinned by strong global engagement, explains Sajjid Z Chinoy.
Janhvi's look was styled by cousin Rhea Kapoor.
'I look at the people, yes. Co-actors, the makers, the crew.' 'Then I look at how it's different from what I've done before.'
'I played five different versions of Woh Subah Kabhie Toh Aayegi for Raj Kapoor, only to be greeted with a totally blank reaction.' 'Thereafter, for 40 minutes, he disappeared, leaving us baffled.' 'But when he emerged, he couldn't stop appreciating our efforts!' 'He said Sahir Ludhianvi's writing was sheer poetry and since all my five tunes were equally wonderful, he would leave it to my discretion to chose the final tune.' 'What could be greater appreciation for an artiste?'
Gem and Jewellery Export Promotion Council says step will balance trade deficit with the US.
India and the UK on Thursday inked a landmark free trade agreement (FTA) that will cut tariffs on British whisky, cars and an array of items, besides boosting bilateral trade by around $34 billion annually.
India and the US have concluded the fifth round of talks for the proposed bilateral trade agreement (BTA) in Washington. Both sides are looking at finalising an interim trade deal before August 1. Issues related to agriculture and automobiles figured during the negotiations.
India and the UK will sign a free trade agreement on Thursday in London that will allow export of labour-intensive products such as leather, footwear and clothing at concessional rates, while making imports of whisky and cars from Britain cheaper. The pact also helps double trade between the two economies to $120 billion by 2030.
The United States action of levying 25 per cent additional tariff on Indian goods is 'unfair, unjustified and unreasonable', India said on Wednesday in a firm reaction, signalling increasing tensions between the two strategic partners over New Delhi's energy ties with Moscow.
US President Donald Trump on Wednesday slapped an additional 25 per cent tariff on goods coming from India as penalty for New Delhi's continued buying of Russian oil.
Sukanya Verma remembers the Boss in 30 of his underrated, overlooked gems in Hindi film music.
'Congratulations Joe Root, magnificent.'
Amid uncertainty over trade talks with the US, Prime Minister Modi asserts India's commitment to protecting the interests of farmers and fishermen, vowing no compromise on their behalf.
The trade relationship between India and the United States has been strained by the imposition of 25% tariff by the US on Indian goods.
The proposed 'Next Gen GST' with sweeping reforms, lower tax rates, and just two slabs, aims to boost the economy amid tariff threats and set the stage for a single tax rate regime by the time India becomes a developed nation, government sources said.
Miss World contestants' heritage itinerary took an interesting turn as the participating beauties immersed themselves in Indian tradition, delved into the spiritual heritage of Telangana.
Jurel has produced a solid body of work in first-class and Test cricket alike, even though he displayed a completely different avatar for the Rajasthan Royals (RR) in the Indian Premier League (IPL) as a finisher since his debut in 2023.
Brave statements such as we will continue to be the fastest growing large country are of no consolation, because the direction of trade also determines the flow of investment, points out M Govinda Rao.
