BUSINESS
India mulls fresh incentives for exporters amid US tariff shock, sources say
Any fresh incentive will potentially focus on labour-intensive exports and the requirement for the same will depend on if and how quickly Washington and New Delhi secure a trade deal potentially lowering the massive tariffs rates, sources said.
BUSINESS
Indian textile exporters seek tariff cost sharing as fresh US orders nearly halt
While, there is a rush to ship goods to dodge the extra 25 percent tariff, an exporter said that since manufacturing for export purposes begins only once an order is received, one can’t frontload too much.
BUSINESS
Trump tariffs: Trade talks on, US delegation expected on August 25, say officials
A US embassy spokesperson said on August 5 said they are looking forward to the talks for a productive and balanced trade relationship
BUSINESS
Trump’s tariff hike sparks competitiveness, layoff fears among India’s MSME exporters
Over $50 bn in trade at risk as effective duties on labour-intensive sectors climb to over 50%, industry warns of job losses
BUSINESS
Indian exports get 3-week breather as extra 25% Trump tariff kicks in from August 27
The grace-period only applies to the additional duty announced on August 6 and not the earlier 25-percent duty, which is applicable from August 7.
BUSINESS
About $30 billion in Indian exports escape Trump's 50% tariff on pharma, smartphones exemptions
Indian shipments worth around $30 billion covering pharmaceuticals and certain electronic products such as smartphones, semiconductors and energy are so far secure from steeper duties since they are under an exemption list.
BUSINESS
Trump’s renewed tariff threats may have played a role in RBI’s status quo on rates
The Reserve Bank of India’s status quo on the benchmark policy rate indicated that it requires further clarity on the quantum of tariffs that Trump may finally levy on New Delhi, according to economists and experts.
BUSINESS
Interview: Trump's India tariff threats just a trade tactic for better deal, says ORF's Dhruva Jaishankar
Dhruva Jaishankar, Executive Director of Observer Research Foundation America (ORF) America told Moneycontrol that a consequence of all of this is that the India-US political relationship continues to sour, even if day-to-day cooperation carries on in a variety of fields.
BUSINESS
India says ‘actively involved’ in trade talks with USA, hours after sparring over Russian ties
On the steps being taken by Centre to safeguard India’s agriculture, Jitin Prasada said international negotiations allow for the inclusion of sensitive, negative, or exclusion lists – or categories of goods on which limited or no tariff concessions are granted.
BUSINESS
Indian state refiners may continue dirhams-only Russian oil deals amid fresh EU curbs, Trump's threats, sources say
EU’s stricter sanctions this year have only solidified the practice of purchasing crude oil from Russia through dirhams by rerouting it through Emirati traders, officials added.
BUSINESS
Exporters seek swift tax refunds, interest aid as diversification from US market at least 6 months away
During a series of meetings held by Commerce Minister Piyush Goyal between August 2 and 3, exporters urged the government to expedite the release of funds under the Export Promotion Mission, ensure faster disbursal of claims under the Integrated GST, and reinstate the interest subvention scheme, which was discontinued in December 2024.
BUSINESS
Trump's 25% tariffs to hit Indian goods after Oct 5; $20 billion at risk, $30 billion temporarily spared
The US has also laid down rules that define goods that are rerouted or trans-shipped to evade higher duties. These will face a 40% levy, in addition to base taxes. This means that if an Indian-origin good is routed through a third country, it may face even higher tariffs.
BUSINESS
India bets on speeding up FTA talks with EU, Peru, Chile to diversify exports from US
Hours after Trump’s fresh tariffs, Indian commerce ministry officials got on to a call with leather and textile exporters on July 31 to gauge the impact of these duties on these two crucial sectors with shipments to the US worth over $10 billion annually.
BUSINESS
The very basis of free trade deal is at stake: RSS affiliate Swadeshi Jagaran Manch on Trump’s penalty
SJM's Ashwani Mahajan said India is committed to buying defence equipment and crude oil at the cheapest price wherever it gets it from, to ensure domestic inflation is kept in check.
BUSINESS
Over $25 billion of Indian exports dodge Trump’s new tariffs as pharma, smartphones stay duty-free
The rise in US's share in Indian exports were driven not just by exporters front-loading shipments ahead of upcoming tariffs, but also thanks to the exemptions granted to key sectors like smartphones and pharmaceuticals from the 10% baseline levy. These sectors, for now, will remain outside the fresh levies announced on July 30.
BUSINESS
India not notably worse off than nations with US trade deals, says GTRI on Trump's 25% plus tariffs
"A deal may still emerge, but only on fair terms. For now, India’s principled stand has avoided the trap of a one-sided deal, and that’s a success," GTRI's founder Srivastava said.
BUSINESS
Indian govt continues to engage with US on trade deal, pledges protection for farmers, MSMEs
The government said that it is presently studying the impact of the US’s decision to impose a 25-percent tariff along with a penalty on the country starting August 1.
BUSINESS
Experts urge for tariff-only talks after Trump's Russia penalty on India
While, Trump hasn't elaborated on the quantum of the penalty, trade experts say a 25% tariffs along with a penalty could put Indian exports at a disadvantage to countries like Vietnam and Indonesia that have brokered trade deals, facing lower duties of 20% and 19%, respectively.
BUSINESS
Government lays out action plan to boost FDI, make compliance easier
Regular engagements with global investors to address their concerns, further simplifying processes as well as easing compliances to boost inflows are part of the plan
BUSINESS
Trump hints at 20-25% US tariffs on India sans trade deal by August
India and the US have been working towards finalising a first tranche of a Bilateral Trade Agreement (BTA) by September or October.
BUSINESS
India-UK trade deal to give UPI a bigger play in Britain, ease remittances
It will allow Indians to make payments in UK shops by scanning QR codes and also send money to children studying in the that country using UPI once the FTA is operational
BUSINESS
India will respond appropriately if UK levies carbon tax, says Piyush Goyal
While, the UK has agreed that India can take appropriate counter-balancing measures if it implements CBAM, this understanding isn't part of the Comprehensive Economic and Trade Agreement (CETA) signed on July 24
BUSINESS
India's modern FTAs to tap into new areas while balancing sensitivities, says commerce secretary
India has been able to exclude sensitive items such as dairy and apples from the trade deal with the UK, however this may not serve as a template for future FTAs.
BUSINESS
India can take counter-balancing steps if UK's CBAM plans erode FTA concessions, sources say
While, the UK has agreed that India can take appropriate counter balancing measures if it implements CBAM, it isn't part of the FTA signed on July 24.
