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.
'The question for the TMC is not whether it can hold its bastions, but whether it can expand effectively into regions where the BJP already possesses a good ecosystem.'
In the face of testing global conditions, the Ministry of Textiles has stayed the course by introducing timely policy changes and innovative programmes aimed at spurring growth and development across the organised and unorganised sectors of the industry.
Sparks fly on the runway as Ibrahim Ali Khan and Sharvari Wagh steal the show in Amit Aggarwal's couture.
'It doesn't matter where you come from or what college you studied in. None of it defines your future. Just don't give up.'
The rupee's 11% gain against the dollar has driven U.S. and European retailers to switch their orders to countries with weaker currencies.
'High taxes have kept away art collectors who will now embrace the new GST.'
"Right from choosing the exact colour of the stone to what kind of metal would go around it... We paid so much attention to tiny colours," says Amit Aggarwal.
"Right from choosing the exact colour of the stone to what kind of metal would go around it... We paid so much attention to tiny colours," says Amit Aggarwal.
An Indian commerce ministry team will soon visit Washington for another round of talks on the proposed trade agreement with the US to iron out differences in sectors, like agriculture and automobiles, a government official said on Thursday.
Prime Minister Narendra Modi addressed a gathering in Dhar, Madhya Pradesh, praising Indian soldiers and promoting the use of 'Swadeshi' goods. He also launched health and nutrition campaigns aimed at women and children.
'Everybody in America loses because of what India is doing.'
The USA's steep 50 per cent tariffs on Indian goods entering America will severely impact exports and job creation in labour-intensive export sectors such as shrimp, apparel, leather and gems and jewellery. Exporters said that the imposition of a 25 per cent penalty on India over and above the 25 per cent tariffs move will disrupt the flow of Indian goods to its largest export market.
From the Sensex firms, HCL Tech, Infosys, Power Grid, Tata Consultancy Services, HDFC Bank, Hindustan Unilever, Bharti Airtel and ICICI Bank were among the major laggards. However, Titan, Larsen & Toubro, Maruti and Axis Bank were among the gainers.
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.
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.
Equity markets this week would keenly track the upcoming GST Council meeting, macroeconomic data announcements and trading activity of foreign investors for further movement, analysts said. Moreover, developments related to tariff negotiations, global market trends and auto sales data would also drive investors' sentiment.
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.
In the slot of rural poor, there are those who struggle to pull themselves out of crumbling hovels, and there are the Jamtara-like bunch who turn to crime. Neeraj Ghaywan's Homebound is about the former, whose quest for respect and dignity is thwarted because they are underprivileged, notes Deepa Gahlot.
Imposition of high tariffs on China, Mexico, and Canada by the US is expected to help Indian exporters in increasing their shipments to the American market, experts say.
'India kills its own talent before the world even gets to see it'
Reliance Industries' refining earnings will remain steady, supported by its position as India's largest importer of Russian crude and favourable global supplies, according to analysts at JM Financial and Goldman Sachs. Reliance imported more Russian barrels than any other Indian refiner in the past eight months, according to data from Bloomberg/Kpler.
Equity benchmark indices Sensex and Nifty fell on Friday, extending their downward journey to the third day, as investors continued to reel under pressure caused by the imposition of high tariffs and relentless foreign fund outflows.
The Congress party has criticized Prime Minister Narendra Modi's handling of GST reforms, calling them inadequate and demanding an apology for the tax imposed on essential items. They argue that the reforms are merely a 'band-aid' solution and that the government should address the states' demand for extended compensation.
This festive season, Indian homes are mixing global luxury with personal touches using heirloom fabrics, handmade decor, and nostalgic menus to create celebrations that feel both grand and intimate.
Uttar Pradesh's leading export hubs are reeling under the impact of a steep 50 per cent tariff imposed by the US on Indian imports, with exporters warning of job losses, stalled orders and shrinking market access. Industry leaders from Noida, Kanpur and Varanasi said the tariff has put years of painstaking market-building at risk, even as protests and demonstrations erupted in several districts last week.
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.
'Given the lag in transmission, further softening of lending rates may happen in the coming months.'
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.
On August 7, the US president announced doubling tariffs on Indian goods to 50 percent for India's purchases of Russian crude oil, but gave a 21-day window to negotiate an agreement.
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.
Textile stocks have exhibited a mixed performance so far this calendar year (CY23), amidst higher domestic cotton prices and tepid global demand. Shares of Page Industries, Dollar Industries, Lux Industries, and VIP Clothing have declined up to 13 per cent so far in CY23, as against a 9 per cent jump in the S&P BSE Sensex. On the contrary, shares of Arvind, Welspun India, Raymond, and Gokaldas Exports have gained up to 51 per cent, during the same period.
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.
GST 2.0 may cushion consumers against US tariffs, but like the 2019 corporate tax cut, it risks being another tactical fix rather than a structural growth strategy, expects Debashis Basu.
Among Sensex firms, Tech Mahindra, HCL Tech, Eternal, Axis Bank, Maruti, Tata Steel, HDFC Bank and Asian Paints were the gainers. However, Adani Ports, Trent, Tata Motors, Hindustan Unilever and NTPC were among the laggards.
'The biggest point of contention is market access for US agricultural and dairy products.'
On his 200th birth anniversary, Utkarsh Mishra traces the life, thought, and legacy of Dadabhai Naoroji, the Grand Old Man of India.
New Delhi, while opting not to retaliate yet to the American tariffs, has in recent weeks sought to reinforce its friendship with Moscow, and recalibrate its ties with Beijing rather than surrender to Washington's diktats.
'India did not surrender. That was why he wanted to pressurise India by this 25% tariffs.'
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