The official said there are both challenges and opportunities for India as many of its competitor countries in exports, such as China Vietnam, Bangladesh, Cambodia and Thailand, face higher duties.
'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.'
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.
In his address, Singh said there should be "no double standards" in combating terrorism and urged the SCO member nations to condemn the menace with unity.
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.
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.
China has toned down its rhetoric on fighting a trade or any other type of war with the US, saying that no such wars should be fought because they cannot be won. Foreign Ministry spokesman Lin Jian responded to US Secretary of Defence Pete Hegseth's remarks that his country doesn't seek a war with China, but will rebuild the military and prepare for war. However, on Tuesday, Lin had said that China is ready to fight till the end if the US wants a trade war or any other type of war. Hegseth said on Wednesday that the US is not actively seeking conflict with China, but is rebuilding its military and establishing deterrence.
'Only those who live through these situations understand the true cost of war.'
The CCB had raided Ragini Dwivedi's residence early Friday morning after obtaining a search warrant from a court, a police officer said.
Manipur experienced a year of intense turmoil in 2024, marked by escalating violence, displacement, and deepening divisions between the Meitei community in the valley and the Kuki tribes in the hills. The conflict, rooted in historical grievances and fueled by political tensions, resulted in numerous casualties, mob attacks, and drone strikes on civilian areas. The situation has led to widespread displacement, fear, and a sense of insecurity among the affected communities, with no signs of peace in sight.
The heightened global uncertainty due to the US "reciprocal tariffs" on India may cause near-term corrections and market turbulence, but the long-term outlook remains constructive, market experts said on Thursday. The US has announced 27 per cent reciprocal tariffs on India, citing high import duties imposed by New Delhi on American goods.
A critical drug developed on a DRDO technology for radiological and nuclear emergencies has received approval from the Drugs Controller General of India (DCGI), the defence ministry said on Tuesday.
Boko Haram and Dawood Ibrahim have struck a deal to sell drugs in India, discovers Vicky Nanjappa/Rediff.com
Industry insiders in India warn that any such move in the pharmaceutical sector could be counterproductive for the US as it may face increased drug shortages if tariffs are imposed on such imports.
India and Pakistan on Tuesday agreed to enhance cooperation through "effective and sustained steps" to control illicit drug trade and signed a Memorandum of Understanding to boost efforts to prevent the trafficking of narcotics and precursor chemicals.
Bikram Singh Majithia claimed he was grateful that truth had won and Kejriwal had realised his mistake.
The Congress vice president accused the Akalis of trying to set the film 'Udta Punjab', which highlights the drugs problem in the state, banned and said they are not ready to admit the truth as they are "benefiting" from drugs and lawlessness.
Trade generic drugs (medicines that are sold directly through distributors) are fast becoming a key segment for domestic pharma firms as volume growth slows in the overall market. Big companies like Cipla and Alkem have a significant presence in the segment but recently, players like Torrent Pharmaceuticals and Dr Reddy's Laboratories (DRL) have also entered this market. What is driving big pharma's focus on trade generics? The volume growth in the Indian Pharma Market (IPM) has come down from 5.6 per cent in FY16 to 0.1 per cent in FY23.
India's trade ties with Israel have only strengthened in the years after 2019. The total value of trade rose to $10.5 billion on a rolling four-quarter basis in June 2023 from $5.5 billion in the same month in 2019, shows a Business Standard analysis of data from the Centre for Monitoring Indian Economy (CMIE). A rolling four-quarter number provides a comparable figure across different time periods.
Majithia had moved a court on Thursday after the case was registered and a lookout circular issued against him.
Modi brought up the emotive issue of the gurdwara in Kartarpur Sahib, a place sacred to Sikhs as Guru Nanak Dev spent the last years of his life there, and blamed the Congress for country's partition, saying they did it for sake of power.
United States President Donald Trump said on Monday that Canada will implement a $1.3 billion border plan aimed at stopping the flow of fentanyl into the United States.
The solution to Manipur's problems lies in the government giving concessions to Meitis in jobs and education and to accept autonomy for the tribal dominated areas inhibited by the Kukis, suggests Colonel Anil A Athale (retd).
Brokerages expect a further slowdown in Indian firms' revenue and earnings growth in Q4FY25, following low single-digit growth in the preceding three quarters, as factors like weak consumer demand and credit growth linger on.
Trump on February 1 had announced tariffs on major US trading partners Canada, Mexico and China. He imposed a 25 per cent tariff on Canadian and Mexican imports and a 10 per cent on goods from China.
Goods from sectors, including agriculture, precious stones, chemicals, pharma, medical devices, electricals, and machinery may get impacted if the US will go ahead with imposing reciprocal tariffs on Indian products, according to experts. They said that these sectors could face additional customs duties from the Trump administration because of the high tariff differential or gap, which is the difference between the import duties imposed by the US and India on a product.
Police said they have made five arrests in the incident. Those arrested have been identified as Prabhjit Singh, the main accused, Kulbir Singh, Sahib Singh, Gurjant Singh and Ninder Kaur, they said.
Medicine Shoppe India, the Indian arm of the largest pharmacy chain Medicine Shoppe International, owned by the US-based drug trading major Cardinal Health, is planning to add about 500 medical stores in India within two to three years.
United States President Donald Trump on Sunday criticised the trade deficits that the US has with Canada, Mexico, China, and argued that America should no longer 'subsidise' other countries, and urged businesses to manufacture domestically to avoid tariffs.
After registering a net profit of Rs 25.1 crore in Q3FY25 and consolidated revenues growing by 7 per cent on a like-for-like basis, Siddharth Mittal, chief executive officer (CEO) and managing director, Biocon, told Sohini Das/Business Standard in a virtual interaction that local manufacturing in the US is a trade off between cost and qualifying to do business there.
'...in the minds of the youth of Assam.' 'Now, no protests happen in Assam because of fear of police encounters.'
US President-elect Donald Trump has renewed his offer to make Canada the 51st state of the United States, hours after Canadian Prime Minister Justin Trudeau resigned. Trump has been pushing this idea since his November 5 electoral victory, citing economic benefits and security concerns. Trump's offer has not been met with much reaction from the Canadian side.
The Budget 2025-26 meets the expectations of fiscal consolidation, maintaining capital expenditure, and boosting consumption through tax cuts.
President Donald Trump delayed tariffs on Mexico and Canada for a short-term period for certain products before the 'big one' from April 2.
Due to the massive short supply of Paxlovid, demand for Indian generic versions has gone up through Chinese e-commerce platforms.
The Central Consumer Protection Authority (CCPA) on Thursday directed e-commerce entities to sell specified ayurveda, siddha and unani drugs only after customers upload valid medical prescriptions from registered doctors on the platforms.
Negotiations for a trade deal between India and the UK have run into fresh controversy, after the proposals under a leaked chapter of the deal on intellectual property (IP) are believed to put access to affordable, lifesaving generic medicines from India at risk. According to the draft IP chapter put out by an international trade portal bilaterals.org, the UK is seeking continuous extension of patent period and rights through small tweaks in the drug, known as evergreening. This may prevent patents from expiring, impacting cheaper drug availability and its production by Indian generic drug manufacturers.
United States President-elect Donald Trump took a jab at Canadian Prime Minister Justin Trudeau on the social media platform Truth Social, describing him as the 'Governor of Canada'.
As many as 34 new drugs were added to and 26 dropped from an updated list of essential medicines on Tuesday, with the government saying this will reduce "patients' out-of-pocket expenditure". The National List of Essential Medicines (NLEM 2022) has 384 drugs, up from 376 in 2015. "Drafting this list is a lengthy process, and around 350 experts from across India have held over 140 consultation meetings to draft the NLEM 2022," Union Health Minister Mansukh Mandaviya said.
The Jammu and Kashmir administration on Saturday sacked six government employees, including five policemen, for their 'deep involvement in anti-national activities', officials said.
