Page 126 - Economy

US tariffs may cut India growth by 0.5%: Ex-commerce secretary G K Pillai

Terming the steep tariff imposed on India as discriminatory, he said others like China and many European nations also import energy from Russia, but the US has not imposed a penalty against them

GST reform to offset growth drag from 50% US reciprocal tariff: BMI

GST has grown to be the second-largest source of fiscal revenue after income tax, amounting to around 30 per cent of total revenue and 2.5 per cent of GDP in FY2024-25

India's inflation index to be revised every 5 years: Saurabh Garg

The new CPI series will be released by Mospi in the first quarter of 2026, with 2024 as the base year. Currently, the base year is 2012

Chhattisgarh govt clears way for aluminium park project in Korba district

The government has decided to hand over 105 hectares of land belonging to the Korba Thermal Power Station (KTPS) to the industries department, paving the way for the state's first aluminium park

US tariffs to hit nearly one-fourth of textile exports in 6 months: Experts

However, the extension of duty-free import of cotton by three more months till December 31 is expected to bring some much-needed relief to the domestic textile industry

Centre extends cotton import relief; TN, industry push for more sops

Tamil Nadu and industry bodies urge higher export incentives, faster EU trade deal and wider market access as US tariff hits Tiruppur's exports; Centre extends cotton relief till December 31

India should rethink Russian oil imports as US tariffs hit: Raghuram Rajan

Former RBI governor Rajan pointed out that refiners have been earning excess profits from importing Russian oil, while exporters have taken a hit due to tariffs imposed by the US

US tariffs to worsen India's solar panel glut as domestic bidding slows

India's awards of solar generation projects and new tenders slowed dramatically in the quarter ended June

Govt extends duty-free cotton imports till Dec 31 to aid textile exporters

The Finance Ministry has extended duty exemption on cotton till December 2025 to ease raw material supply, support garment exporters and cushion the impact of US tariffs on RMG

Sweets and namkeen makers ask for GST reduction to 5% citing jobs, margins

In its note, the federation said that these changes would reduce litigation, stabilise margins, boost employment and align with India's ambition of becoming a global food hub

STMAI urges govt to act against surge of low-cost Chinese pipe imports

Chinese importers are reportedly declaring inflated invoice values at the time of customs clearance, while subsequently selling the same products in the Indian market at significantly lower prices

Trump slammed for 50% tariff on India while sparing China over Russian oil

Democrats say Trump's new tariff on India is unfair and politically motivated, accusing him of letting China off the hook despite being the top buyer of Russian crude oil

Why India's Russian oil imports sparked US tariffs amid Ukraine peace talks

White House trade adviser Peter Navarro said India's purchases of Russian crude were funding Moscow's war in Ukraine and had to stop

Centre extends cotton import duty exemption amid US tariff pressure

The world's second-biggest cotton producer had earlier announced an exemption on cotton imports from an 11 per cent duty until September-end and has now extended that to December 31

Indian firms delay expansion plans amid demand, trade uncertainty: BofA

Firms are focusing on paying down debt, opting for refinancing rather than expanding capacity, Shankar Subramaniam, the bank's head of India corporate banking said

Navarro calls Ukraine conflict 'Modi's war', links tariffs to Russian oil

White House adviser Peter Navarro blamed India for fuelling Russia's war, saying it could get 25% tariff relief if it halts discounted crude imports from Moscow

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

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"

Hopeful of achieving some fine-tuning of DTAA soon: Mauritius minister

Mauritius minister Jyoti Jeetun says fine-tuning of tax treaty with India is underway, stressing partnership in Africa and scope for local currency trade

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