Page 131 - Economy & Policy News
US tariffs: Bracing for pain, exporters cling to trade deal hopes
Workers, small business owners fear loss of livelihood as factories reduce operational hours amidst cancelling of orders
 "US tariffs: Bracing for pain, exporters cling to trade deal hopes")
Communication channels open, says govt as 50% US trade tariff kicks in
In the meantime, describing the India-US relationship as "very complicated", US Treasury Secretary Scott Bessent, in a television interview, hoped that "at the end of the day, we will come together"
 "Communication channels open, says govt as 50% US trade tariff kicks in")
India Inc bonds resilient amid record trade costs from US tariffs: Barclays
Barclays says Indian corporates will face margin compression but remain supported by strong leverage, liquidity and domestic demand as US tariffs hit $55 bn exports
 "India Inc bonds resilient amid record trade costs from US tariffs: Barclays")
US tariffs: Govt to launch outreach in 40 nations to push textile exports
Other nations include Germany, France, Italy, Spain, the Netherlands, Poland, Canada, Mexico, Russia, Belgium, Turkiye, the United Arab Emirates, and Australia
 "US tariffs: Govt to launch outreach in 40 nations to push textile exports")
Setbacks make us stronger, more agile: Finmin on tariff challenge
India's economic review warns of tariff-related challenges but says reforms, FTAs, and strong fundamentals will support growth
 "Setbacks make us stronger, more agile: Finmin on tariff challenge")
India may become world's second-largest economy by 2038: EY report
The report also said that with appropriate countermeasures, India can limit the adverse impact of higher US tariffs on selected Indian imports to about 10 basis points of real GDP growth
 "India may become world's second-largest economy by 2038: EY report")
Russia-led EAEU team to visit India in September for free trade talks
A high-level EAEU delegation will visit New Delhi next month to begin negotiations on a proposed trade pact, expected to expand India's export markets
 "Russia-led EAEU team to visit India in September for free trade talks")
Employment in manufacturing industry up 5.92% at 18.4 mn in FY24: Govt
The invested capital in the industries rose to Rs 68,01,329 crore in 2023-24 from Rs 61,39,212 crore in 2022-23, as per the report for 2023-24
 "Employment in manufacturing industry up 5.92% at 18.4 mn in FY24: Govt")
EAC-PM chief warns US tariffs may weigh on jobs more than GDP growth
EAC-PM S Mahendra Dev said that exporters should focus on diversification of markets, while also pushing domestic consumption
 "EAC-PM chief warns US tariffs may weigh on jobs more than GDP growth")
Cabinet extends PM SVANidhi scheme till 2030 with ₹7,332 crore outlay
Union Cabinet approves revamp of PM SVANidhi scheme with higher loan limits, RuPay credit cards, cashback incentives and wider coverage for 1.15 crore street vendors till 2030
 "Cabinet extends PM SVANidhi scheme till 2030 with ₹7,332 crore outlay")
India eyes 126 million PNG connections, 18,000 CNG stations by 2034
Major push in gas infra expansion being achieved through state policies, says PNGRB
 "India eyes 126 million PNG connections, 18,000 CNG stations by 2034")
Trump's 50% tariffs take effect today: Which sectors are in firing line?
The Donald Trump-led US administration links the 50% duty to India's Russian oil imports; sectors from textiles to seafood brace for impact
 "Trump's 50% tariffs take effect today: Which sectors are in firing line?")
Trump's 50% India tariffs kick in; here's a list of countries hit by duties
The US has hit India with steep tariffs, with two 25% tranches in August, making it one of the most heavily tariffed nations among emerging markets, along with Brazil
 "Trump's 50% India tariffs kick in; here's a list of countries hit by duties")
Trump 50% tariff: How India stacks up against Asian, Latin American peers
India's effective tariff rate has soared to 50 per cent, while its peers face lesser tariffs despite their larger trade surpluses with the US
 "Trump 50% tariff: How India stacks up against Asian, Latin American peers")
US tariff shock to hit Bengal's leather, marine, and engineering exports
According to trade estimates, the move will impact at least Rs 45,000 crore worth of Indian exports, with Bengal among the hardest-hit states
 "US tariff shock to hit Bengal's leather, marine, and engineering exports")
Textile hubs in Surat, Tiruppur suspend output as US tariff takes effect
The 50 per cent tariff will affect the export prospects of several industries in India's largest market and also poses a risk for India's near-term growth and capital flows trajectory
 "Textile hubs in Surat, Tiruppur suspend output as US tariff takes effect")
Additional 25% tariff imposed by Trump on India comes into effect
On August 7, the Trump announced doubling tariffs on Indian goods to 50 per cent for India's purchases of Russian crude oil, but gave a 21-day window to negotiate an agreement
 "Additional 25% tariff imposed by Trump on India comes into effect")
Diwali tax cuts risk worsening India's tariff sting as Trump threat looms
While lower consumption taxes will indeed spur demand, particularly for durables such as autos, TVs and ACs, it may not happen immediately
 "Diwali tax cuts risk worsening India's tariff sting as Trump threat looms")
India's GDP growth likely slowed to 6.7% in Q1, set to ease further: Poll
The poll showed India GDP growth slowing to 6.5 per cent this quarter, 6.3 per cent in October-December and 6.2 per cent in January-March
 "India's GDP growth likely slowed to 6.7% in Q1, set to ease further: Poll")
50% US tariff on India takes effect Wednesday; exporters seek urgent relief
Exporters will need to explore new markets as the US is no longer an option for many, he stressed
 "50% US tariff on India takes effect Wednesday; exporters seek urgent relief")