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.
BUSINESS
India-UK trade deal opens up government procurement for Indian medicines, software services, but British firms may struggle to gain ground, say experts
Indian companies may access $122 billion UK procurement market, including NHS
BUSINESS
Only 24.5% of UK's export value will get immediate duty-free market access to India via FTA
Commerce Secretary Sunil Barthwal said talks are ongoing with the European Union and the United States as well for FTAs.
BUSINESS
India-UK trade deal offers British firms a major stake in Atmanirbhar Bharat
Once the FTA is operational, UK companies will be treated as a class 2 supplier if at least 20 percent of their product or service is from Britain – granting them the same status that only Indian firms currently enjoy
INDIA
India-UK FTA: Indian electronics, textiles, pharma, chemicals to get zero duty access
In labour-intensive sectors, tariffs on Indian exports to the UK have been slashed to nil from up to 20 percent on marine products, 12 percent on textiles and apparels, 8 percent on chemicals, and 10 percent on baseline metals, the Indian government said
BUSINESS
India-UK FTA: 75,000 Indian workers to gain from Britain’s insurance break
New Delhi has also secured a quota of 1,800 a year for qualified, professional Indian traditional chefs, yoga instructors and classical musicians entering as contractual service suppliers
BUSINESS
India-UK FTA: No tariff concessions for British EVs, hybrid cars priced below £40,000 on CIF basis
Britain has not offered any tariff concessions for Indian electric, hybrid and hydrogen cars with a CIF of above £80,000.
BUSINESS
India-UK FTA: Indian EVs get limited concession, engineering exports may double by 2030
Shipments of key engineering products like electric machinery, auto parts, industrial equipment, and construction machinery are projected to grow at 12–20 percent CAGR.
