With US President Donald Trump "temporarily suspending" country-specific reciprocal tariffs until July 9, India sees the three-month window as an opportunity to renew its push for a proposed bilateral trade agreement (BTA) with the US and expedite finalisation of the first tranche of the trade deal.
Friday cut the import duties on non-alloy steel by five per cent and 10 per cent on ships for breaking, as part of fiscal measures to stem inflation surging towards 8 per cent.\n\n
While India has become the largest data generating nation, and hosts more than 152 data centres, it is fed by only 18 undersea cables.
Of the total proposed allocation, over Rs 1 lakh crore is meant for BSNL and MTNL-related expenses, including Rs 82,916 crore infusion in BSNL for technology upgradation and restructuring at BSNL.
Industry demands the basic customs duty on all steel imports to be raised to 25%
The auto major is not just looking at domestic sales, but also planning to ramp up exports to key markets from here, like the Middle East, North Africa and Australia.
"It is shocking to note that Turkey, the second-largest arms supplier to Pakistan after China, has played a key role in modernising Pakistan's navy and enhancing its aerial warfare capabilities. "This defence collaboration is not just commercial; it is ideological, targeting the stability of South Asia and emboldening Pakistan's military adventurism," SJM national co-convenor Ashwini Mahajan said in a statement.
The Central Board of Excise and Customs, through a notification on February 12, has slashed the duty on both the variants of motorcycles imported as completely build units (CBU) to 50 per cent.
Commerce and Industry Minister Kamal Nath on Tuesday said he will talk to Prime Minster Manmohan Singh for reduction of import duty on American cult bike Harley Davidson.
The Indian government could lose a staggering $3 billion in revenues over a five-year period on account of differential import duties levied on refined and unrefined gold, says a report.
'...the auto industry to get back to 7% to 8% annual growth.' 'High growth in the SUV segment alone will not achieve this, as it is a small market.'
Even as the government's move to hike import duties on 45 items is seen as a sign of protectionism, the prime minister was himself involved in the process.
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.
The government may tweak customs duties in the Budget next week on several goods, including furniture raw materials, copper scrap, certain chemicals, telecom equipment and rubber products, to promote domestic manufacturing and exports, sources said. They said that while import duties could be tweaked on over 20 products such as cut and polished diamonds, rubber goods, leather garments, telecom equipment and carpet, the customs duties could be removed on select raw materials (like wood in rough, swan wood and hard board) used for furniture manufacturing and copper concentrate.
The verdict will have far-reaching implications for judicial service aspirants.
Import of most products from the country will be allowed at zero duty.
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.
'Doctors feel they have a duty to prolong a heartbeat at all costs.' 'And a son or a daughter feels, I can't let my mum die. I have to save her at all costs.' 'They think saving is just prolonging life. But the person suffers.'
"Their Prime Minister just visited -- he's a great friend -- but I told him, 'You're not treating us right. You charge us 52%, while for years, decades even, we've c'harged you next to nothing. It wasn't until seven years ago, when I took office, that we started pushing back, beginning with China.'"
'Even one accident can cause problems for the entire coastal system.'
United States President Donald Trump has announced a 25 per cent tariff on imports from Canada and Mexico, as well as a 10 per cent tariff on goods from China, citing concerns over illegal immigration and the smuggling of drugs, including fentanyl.
DRI had last month issued the notice to Samsung India for allegedly evading duty worth about Rs 70 crore (Rs 700 million) while importing the tablets from South Korea between April 2012 and February 2013, the sources said.
With cement companies refusing to cut prices, the government on Tuesday abolished all duties on import of portland cement
The government is considering initiating a probe by the Serious Fraud Investigation Office (SFIO) against Gensol Engineering and its promoters, according to sources familiar with the matter. "It is under consideration at this stage. A final decision will be taken soon," a government official said.
The share of Ahmedabad in the total value of trades on both the BSE and NSE is set to touch double digits for the third year in a row.
So tell us, does Sitharaman's budget deserve cheers or boos?
Finance Minister Nirmala Sitharaman on Thursday said there are no changes in tax rates for direct and indirect taxes, including import duties. She also said the number of tax filers has swollen 2.4 times and the direct tax collection has trebled since 2014.
The Bombay high court on Monday ordered a first information report (FIR) against five policemen for the custodial death of Badlapur sexual assault case accused Akshay Shinde, allegedly shot dead in a police van in September 2024, and setting up of an Special Investigation Team, noting that a prima facie offence is disclosed.
Trump described Modi as "the nicest human being", saying the Indian leader is "a friend of mine".
The decline in gold imports has helped in narrowing the country's trade deficit to $106.84 billion during the eight-month period under review as against $133.74 billion in the year-ago months.
Worried by a spike in Chinese imports, the Indian Steel Association (ISA) plans to take up the matter with the government and seek measures to fix "trade distortions". Alok Sahay, secretary general of the group that represents the country's steel producers, said systemic changes were needed. "In order to take any trade measure, it takes a minimum of 15 months' time, due to prevalence of lesser duty rule in India, making India an easy target. "We are going to write to the government on this," he said.
The California walnuts shipped from the US to India have seen a sharp uptick with imports more than doubling from September to November against the same period last year. This comes after New Delhi removed its retaliatory customs tariffs on the key dry fruit. Two days ahead of US President Joe Biden's visit to New Delhi to attend the G20 Summit on September 9-10, India dropped additional customs duties on about half a dozen US goods that were imposed in 2019 in response to America raising tariffs on certain steel and aluminum products coming from India.
'They are going to create so many nations within one nation.' 'If you do this exercise without a clear vision, it will have far reaching repercussions. It will end up in disaster and that will be dangerous.'
Sunita and Butch did not indicate which presidential candidate -- either former President Donald Trump or Vice President Kamala Harris -- would get their vote.
Import duty on steel is a critical factor determining domestic steel prices. Auto component makers and automobile majors, faced with sagging sales over the last two quarters, have expressed strong reservations against the steel industry's demand for re-imposition of 5 per cent import duty on non-alloy steel (used to manufacture car bodies and stamped auto parts).
The bench has divided the hearing on Kejriwal's petition against his arrest into two parts. His main petition challenges his arrest by the ED and seeks it to be declared as illegal, while the second aspect pertains to grant of interim bail keeping in mind the ongoing Lok Sabha polls. The court has reserved the order on the issue of grant of interim bail.
The Reserve Bank on Friday raised the inflation projection for current fiscal year to 4.8 per cent from 4.5 per cent with Governor Shaktikanta Das saying lingering food price pressures are likely to keep headline inflation elevated in the December quarter. Consumer price index (CPI)-based inflation increased sharply in September and October 2024 led by an unanticipated increase in food prices.
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.
Anil Agarwal, chairman of metals major Vedanta group, has called for the sale of government stake in Bharat Gold Mine and Hutti Gold Mine so as to increase production of the yellow metal in the country. In a social media post, Agarwal said global gold prices are currently at record highs and India imports 99.9 per cent of its requirement. "With massive investments, we can be a major producer of gold and a big generator of employment," Agarwal said.
