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Commerce and Industry Minister Piyush Goyal on Thursday said India is looking at preferential market access for its products in the US and asserted that the country's relations with America are "very robust" with a deep strategic partnership across technology, defence, trade and investment. He said that India's trade pact with the US is "best" as compared to its competitor countries. "Our relations are very robust. We have a deep strategic partnership on several aspects, on technology, on defence, on trade and on investments, and our approach is that India should get preferential market access," Goyal told reporters here. The country, he said, is sitting on a "very sweet spot" in promoting trade with the US. "Being the world's fastest growing economy, India holds huge promise for investors who will continue to look at the India opportunity in greater numbers and greater value in the future," he added. On March 27, the minister held a meeting with the US Trade Representative Jamies
Moody's Ratings on Monday said curtailed access to the US market will diminish prospects for India to develop its manufacturing sector, but the country's domestic demand will remain resilient to these external pressures. US President Donald Trump has announced a 25 per cent duty on imports from India, which will come into effect from August 7 (9.30 am IST). These will be over and above the existing standard import duty in the United States. On top of the import duty, Trump has announced imposing a 'penalty' on India for Russian imports. However, the rate of penalty is yet to be announced. Moody's Ratings, Senior Vice President, Christian de Guzman said the revised tariff rate assessed on Indian goods is significantly above those from other major exporters in the APAC (Asia-Pacific) region, many of which have duty rates between 15 per cent and 20 per cent. "Curtailed access to the largest economy globally diminishes prospects for India's ambitions to develop its manufacturing sector
Domestic drug majors Sun Pharma, Lupin and Dr Reddy's Laboratories are recalling drugs in the US market due to manufacturing issues and product mix up, according to the US health regulator. As per the latest Enforcement Report of US Food and Drug Administration (USFDA), the Mumbai-headquartered Sun Pharmaceutical Industries is recalling 5,448 bottles of a generic medication in the US. Princeton-based Sun Pharmaceutical Industries Inc is recalling the affected lot of Lisdexamfetamine Dimesylate capsules (60 mg) due to "Failed Dissolution Specifications", the US health regulator stated. The medication is used to treat attention deficit hyperactivity disorder (ADHD). The drug firm initiated the Class II recall in the US on June 16 this year, it added. Another Mumbai-based drug maker Lupin is recalling 58,968 bottles of a generic combination medication used to treat high blood pressure. Naples-based Lupin Pharmaceuticals Inc is recalling Lisinopril and Hydrochlorothiazide tablets (US
