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The government on Monday called for an "open house" to discuss issues related to steel imports with industry stakeholders. Companies and associations may present their issues in the open house scheduled for October 27 in the national capital, the Ministry of Steel said in a statement. The development comes at a time when domestic players have been complaining about cheap imports affecting their competitiveness. The Reserve Bank India (RBI) has also noted that steel imports have seen a surge, largely driven by lower import prices. It has also called for policy support to boost the competitiveness of domestic steel production. "The dumping of cheap steel from global producers may pose a risk to the domestic steel production, which can be mitigated through suitable policy measures," as per an article published in the Reserve Bank's October Bulletin. "The dumping of cheap steel from global producers may pose a risk to the domestic steel production, which can be mitigated through suit
India on Wednesday called on developing and least developed nations to collectively work to address global trade challenges such as tariff barriers, unilateral environmental restrictions, and hurdles in the services sector. Addressing the 16th session of United Nations Conference on Trade and Development (UNCTAD) in Geneva, Commerce and Industry Minister Piyush Goyal said: "It is time for the Global South to speak with one voice on concerns that impact all of us". He said the world is currently volatile, marked by numerous uncertainties, challenges, and ambiguities in the global trading system. "We are living in a world marked by a profound trust deficit, whether in multilateral institutions, different international bodies, amongst nations and multiple critical challenges confront us almost on a daily basis. These challenges are multi-faceted. "It could be the erosion of confidence in the rules based trading system, a lot of non-market practices coming into play, tariff and non-tar
US President Donald Trump has once again claimed to have resolved the war between India and Pakistan, saying that seven planes were shot down in the firing between the two countries without specifying to which nation they belonged. Speaking in an interview with Fox News broadcast on Sunday, Trump claimed that the threat of tariffs forced India and Pakistan to stop the war. The threat of tariffs, as an example, kept India and Pakistan, two nuclear nations, from going at it. They were going at it. Seven planes were shot down; that's a lot. And they were going at it. And that could have been a nuclear war, the US President said. Trump said Pakistan's Prime Minister Shehbaz Sharif praised him for saving millions of lives. The Prime Minister of Pakistan actually just said, Donald Trump, President Trump, saved millions of lives by getting that, he said. The US president said he threatened to impose 200 per cent tariffs on India and Pakistan, which forced them to stop the war. Trump sai
Several UK businesses see the Free Trade Agreement (FTA) with India as a "game-changer" as they accelerate expansion plans and a majority of firms without a presence move to enter the market, according to a new report. According to Grant Thornton's latest International Business Report' (IBR) analysis from last week, 72 per cent of UK firms now identify India as a key market for international growth, up from 61 per cent last year, signalling India's "shift to the centre of global strategy conversations". The India-UK Comprehensive Economic and Trade Agreement (CETA), signed during Prime Minister Narendra Modi's UK visit in July, is expected to significantly enhance the 44.1-billion-pound bilateral trading partnership once it is ratified by the British Parliament in the coming months. The IBR report found that while only 28 per cent of businesses surveyed currently operate in India, 73 per cent of those without a current presence plan to enter the market, including 13 per cent within
Reflecting a clear trend of market diversification, Indian exporters registered positive growth in 24 countries during the first half of the current fiscal year, even as shipments to the US declined due to high tariffs in September, official data showed. These 24 countries include Korea, UAE, Germany, Togo, Egypt, Vietnam, Iraq, Mexico, Russia, Kenya, Nigeria, Canada, Poland, Sri Lanka, Oman, Thailand, Bangladesh, Brazil, Belgium, Italy and Tanzania. "24 countries with a total export of USD 129.3 billion recorded positive growth in export in April-September 2025-26 as against the same period last fiscal, amounting to a share of 59 per cent of India's exports," an official said. During April-September this year, exports increased by 3.02 per cent to USD 220.12 billion, and imports rose 4.53 per cent to USD 375.11 billion, leaving a trade deficit of USD 154.99 billion. However, according to the Commerce Ministry data, India's exports to 16 countries have registered negative growth ..