The tariff has increased sharply from 12% to 62%, expected to severely impact exporters such as Shahi Exports, Richa Global Exports, and Eastman Exports Global Clothing. Production is concentrated in Delhi NCR, Tiruppur, Bengaluru, and Ludhiana. With Indian garments effectively priced out of the US market, sourcing is expected to shift to Bangladesh, Vietnam, and…
US President Donald Trump’s decision to impose a 50% tariff on Indian goods from August 27 will hurt major export sectors but also presents an opportunity for India to strengthen its position as a resilient and future-ready trading partner, industry bodies said on Wednesday.The tariff is expected to hit sectors such as textiles, gems and…
NEW DELHI: The finance ministry on Wednesday cautioned that while the immediate impact of US tariffs on Indian exports may be limited, their secondary and long-term effects could pose significant challenges. The remarks come as Washington’s 50% duties on Indian goods took effect from August 27, covering exports worth over $48 billion.The ministry’s monthly economic…
India has explicitly stated its position regarding the protection of farmers, fishermen and small-scale industries, with no room for compromise on these matters. (AI image) India-US trade deal negotiations are contingent on how each country deals with ‘red lines’ sources have said. The US has imposed 50% tariffs on India for its exports to America,…
European Commissioner for Trade Maros Sefcovic is expected to visit India next month to assess the progress of free trade agreement (FTA) negotiations with Commerce Minister Piyush Goyal, PTI reported citing an official on Wednesday. The visit is likely to coincide with the conclusion of the 13th round of talks, scheduled from September 8 in…
Former Niti Aayog CEO Amitabh Kant said India should view the US tariff hike as a wake-up call to implement bold and once-in-a-generation reforms while diversifying its export markets for long-term growth.Addressing the BN Memorial Lecture organised by IRS (C&IT) Association, Kant said, “This is India’s century, irrespective of Trump’s tariff, I strongly believe that…
India’s pivot isn’t about abandoning the US. It’s about strategic autonomy. When Prime Minister Narendra Modi lands in Tianjin this week for the Shanghai Cooperation Organisation (SCO) summit-his first visit to China since 2018-it won’t just be a symbolic handshake with Chinese President Xi Jinping. It will be a signal: India is hedging. Against the…
US stocks were mixed on Wednesday as investors awaited chipmaker Nvidia’s quarterly results, seen as a key test of the artificial intelligence boom. The S&P 500 edged up less than 0.1%, staying close to its record high earlier this month. The Dow Jones Industrial Average gained 87 points, or 0.2%, while the Nasdaq Composite slipped…
The Unique Identification Authority of India (UIDAI) has asked schools across the country to ensure that children aged between 5 and 15 years complete their mandatory Aadhaar biometric updates without delay.UIDAI CEO Bhuvnesh Kumar has written to chief secretaries of states and Union territories, urging them to conduct special camps in schools to clear the…
NEW DELHI: “At the end the day, we will come together,” a top US official said on Wednesday, striking an optimistic note even as trade tensions flare between Washington and New Delhi after US President Donald Trump imposed a 50% tariff on Indian goods over its Russian oil imports.In an interview with Fox Business, the…
