Page 5 - India Trade

Hopeful of India-US trade talks to mitigate Trump tariff impact: ACMA

Automotive Component Manufacturers Association of India on Thursday said it is hopeful that the ongoing bilateral trade talks between India and the US will help mitigate the impacts of President Donald Trump's tariff orders and lead to a balanced resolution that benefits both economies. Reacting to Trump's announcement of tariffs on Wednesday as part of the 'Liberation Day' initiative, Automotive Component Manufacturers Association of India (ACMA) President and Chairperson and Managing Director (CMD) Subros Ltd Shradha Suri Marwah said autos and auto parts and steel and aluminium articles, already subject to Section 232 tariffs at 25 per cent, announced earlier in Trump's order on March 26, 2025, are not covered in the latest order. "The detailed list of auto components that will be subject to 25 per cent import tariff in the US is, however, awaited," she said. Marwah said ACMA understands the intent of the US administration to boost domestic manufacturing and address trade ...

US tariffs may hit agri, machinery, pharma, electrical sectors: Experts

Goods from sectors, including agriculture, precious stones, chemicals, pharma, medical devices, electricals, and machinery may get impacted if the US will go ahead with imposing reciprocal tariffs on Indian products, according to experts. They said that these sectors could face additional customs duties from the Trump administration because of the high tariff differential or gap, which is the difference between the import duties imposed by the US and India on a product. At the broad sector level, the potential tariff gaps between India and the US vary across the sectors. The gap is 8.6 per cent for chemicals and pharmaceuticals; 5.6 per cent for plastics; 1.4 per cent for textiles and clothing; 13.3 per cent for diamonds, gold, and jewellery; 2.5 per cent for iron, steel, and base metals; 5.3 per cent for machinery and computers; 7.2 per cent for electronics; and 23.1 per cent for automobiles and auto components. "The higher the tariff gap, the worse affected a sector could be," an

Trump reciprocal tariff: Which Indian sectors will be impacted from April 2

From auto to tech: What sectors will be most impacted by Trump reciprocal tariffs that will go into effect on April 2

PwC suggests IDEA framework for India to navigate US tariff uncertainties

Global consultancy firm PwC has suggested IDEA (Invest, Diversify, Express, stay Aware) Framework for Indian businesses to navigate trade uncertainties following the decision by the US administration to impose reciprocal tariff. Since the United States (US) presidential elections in November 2024, global trade dynamics have shifted significantly. The Donald Trump administration has already implemented several tariff measures impacting major economies. The reciprocal tariff, which will impact India, is scheduled to take effect on April 2. According to PwC report, the evolving US trade policies, including tariff realignments and other measures, require Indian businesses to develop a long-term resilience strategy. The IDEA Framework provides a structured approach to navigate trade uncertainties and leverage emerging opportunities, it said. Under the Invest Framework, PwC suggested that businesses should put in money for technology upgradation and AI-driven supply chain solutions. To

India must assess each demand of US through lens of its priorities: GTRI

India must firmly assess each demand of the US through the lens of its own national priorities, development goals, and cultural values amid continuous pressure of America to amend trade policies, think tank GTRI said on Tuesday. Commenting on the US Trade Representative's (USTR) National Trade Estimate (NTE) Report 2025, the Global Trade Research Initiative (GTRI) said that many of the proposed changes in areas like agriculture, digital governance, and public health pose serious risks to India's ability to protect its small farmers, maintain food safety, uphold deeply rooted social norms, and secure its digital future. The USTR's report highlights several trade and regulatory challenges between the US and India, including issues related to tariffs, non-tariff barriers, intellectual property, services, digital trade, and transparency. "Most of the issues are repeat of the earlier reports. Few have been resolved and are no longer relevant," GTRI Founder Ajay Srivastava said. On India

India, US to hold sectoral talks under trade pact in coming weeks: Govt

India and the US have decided to hold sectoral talks under the proposed bilateral trade agreement (BTA) in the coming weeks, the commerce ministry said on Saturday. It was decided after the four-day negotiations of senior officers from India and the US. These negotiations ended on Saturday here. "Sectoral expert-level engagements under the BTA will start virtually in the coming weeks and pave the path for an early negotiating round in person," the ministry said. In order to realise the shared objective of promoting growth that ensures fairness, national security and job creation, both sides have through four days of discussions here broadly come to an understanding on the next steps towards a mutually beneficial, multi-sector BTA, with the goal to finalise its first tranche by fall 2025, it said. During these discussions, the two sides held a productive exchange of views on deepening bilateral cooperation in priority areas, including increasing market access, reducing tariff and ..

India, US officials conclude round of talks on proposed trade pact: Report

India and the visiting US officials have concluded a round of talks on Saturday for the proposed bilateral trade agreement, government sources said. They said the negotiations are progressing well. A team of US officials, headed by Assistant US Trade Representative for South and Central Asia Brendan Lynch, was here for negotiations on the proposed agreement. On Friday, US President Donald Trump described Prime Minister Narendra Modi as a "very smart man" and a "great friend of mine" while emphasising that tariff talks would "work out very well between India and our country". The remarks assume significance since Trump has repeatedly criticised the alleged high tariffs charged by India and other countries on American goods. He has announced plans to impose reciprocal tariffs on its key trading partners, including India, on April 2. "India is one of the highest tariffing nations in the world. It's brutal, it's brutal. They're very smart. He (Modi) is a very smart man and a great fri

Tariff exemption to India will push Indo-US bilateral trade, say exporters

Exempting India from the imposition of reciprocal tariffs by the US would help facilitate seamless bilateral trade between the two countries, say exporters. Any tariffs on Indian products would hurt shipments to Washington, they said. According to reports, US President Donald Trump has said that automobile tariffs will be coming soon even as he indicated that some countries may get an exemption from reciprocal tariffs to be imposed on April 2. Federation of Indian Export Organisations (FIEO) said that India certainly deserves an exemption or waiver from reciprocal tariffs as it is constructively engaged with America at different levels and also for a Bilateral Trade Agreement. "The Mission 500 to take bilateral trade from the current level of about USD 200 billion to USD 500 billion requires a greater push for seamless trade, which the exemption will further facilitate," FIEO Director General Ajay Sahai said. Another exporter said that the exemption to India would remove tariff ..

India's exports to grow despite global uncertainties over tariffs: DGFT

India's exports are bound to grow in the coming years despite uncertainties over global trade and tariff, a senior government official said on Wednesday. Director General of Foreign Trade Santosh Kumar Sarangi said that exporters should tread the path pragmatically and wisely to navigate the current global trade contours. He also said that the current scenario presents a "golden" opportunity for India to do a variety of things which will propel exports and increase manufacturing competitiveness. Despite the "uncertainties relating to trade and tariff, our exports are bound to grow in future years," he said at the Sourcex India 2025 show. It was organised by the Federation of Indian Export Organisations (FIEO). US President Donald Trump has imposed reciprocal tariffs or import duties on countries like China and has pledged to impose these levies on India also on April 2. Certain exporters have raised concerns that imposition of duties by the US on sectors like engineering and pharm

India Inc should not worry about tariffs, focus on competitiveness: Godrej

Amid fears of the possible impact of US tariff measures, industry grouping CII on Tuesday asked companies to focus on competitiveness rather than worrying about the duty revisions. Jamshyd Godrej, the chairman and managing director of locks and refrigerator maker Godrej & Boyce, said that Indian manufacturers will have to focus on scale just like China in its pursuit to become more competitive. US President Donald Trump has announced that the country will charge tariffs at par with the ones levied by India on American imports from April 2. Experts have opined that there is a difference in tariffs of the two countries and there can be some impact on Indian exporters. "...I think tariffs is the wrong thing to focus on. The thing to focus on is competitiveness. And I think everyone should get away from this tariff mindset," Godrej told reporters on the sidelines of CII Manufacturing Summit here. Godrej, who has been a past president of CII and also chairman of the summit, recalled ..

India, US to focus on increasing market access, lowering duty: Minister

In a written reply to the Lok Sabha, Prasada also mentioned that as of date, US reciprocal tariffs have not been imposed on India, the deadline for which is April 2

India eyes tariff cut on $23 bn of US imports, to shield $66 bn in exports

Under the deal, India is open to reducing tariffs on 55 per cent of US goods it imports that are now subject to tariffs ranging from 5 per cent to 30 per cent

Senior US trade official Lynch on 5-day visit to India from March 25

Brendan Lynch, the assistant US trade representative for South and Central Asia will pay a five-day visit to India beginning Tuesday to discuss issues relating to trade and tariff between the two countries. Lynch's visit comes days ahead of coming into force of reciprocal tariffs announced by US President Donald Trump. The senior US trade official is expected to hold talks with Commerce Minister Piyush Goyal besides meeting a number of senior Indian officials, it is learnt. The two sides are also expected to hold negotiations to firm a framework for a bilateral trade pact that would address issues relating to levies and market access. "Assistant US Trade Representative for South and Central Asia Brendan Lynch, along with a team of US government officials, will be in India from March 25-29 for meetings with Indian interlocutors as part of ongoing bilateral trade discussions," a US official said. "This visit reflects the United States' continued commitment to advancing a productive

India to drive 6% of world trade growth in 5 yrs, 3rd to US, China: Report

DHL Trade Atlas 2025 report reveals that global trade growth continues to show resilience despite geopolitical tensions and trade policy uncertainty

IT-ITes revenue over $250 bn, exports account for $200 bn: STPI DG

Revenue of IT and IT-enabled services in the country has crossed USD 250 billion out of which USD 200 billion is from exports, a senior government official said on Wednesday. While speaking at the inaugural session of Indiasoft 2025 and India Electronics Expo, Software Technology Parks of India (STPI), Director General, Arvind Kumar, said that the country's IT-ITes revenue has come a long way from USD 20 million in 1992-93. "This consistent effort of ESC, Government of India and support of ESC types of the organization means that today, from IT-ITes services, we have revenue of more than USD 250 billion. STPI's journey started when we had only USD 20 million in export from this country. It's a journey of USD 20 million to 250 million US dollars out of this USD 200 billion is from export," Kumar said. He said that the Electronics and Computer Software Export Promotion Council has always been very instrumental over the promotion of export from this country. Kumar said that now the ..

India's exports shrink 10.9% in February, the worst show in 20 months

Commerce secretary Sunil Barthwal said that although FY25 has been a difficult year, the country is moving towards achieving $800 billion in combined exports of goods and services in the current FY

Govt assessing gains, challenges from US tariffs: Commerce secy Barthwal

Barthwal said govt is carrying out stakeholder consultations and assessing challenges, opportunities, and the broader impact of the additional tariffs imposed by the US on Indian exports

India, China saw strong trade growth in Q4 2024 amid risks: UN report

Developing nations, particularly India and China, saw better than average trade expansion in the fourth quarter of 2024, a UN report has said but warned of a potential for an economic slowdown globally in the upcoming quarters. The latest Global Trade Update by UN Trade and Development (UNCTAD), covering data through early March, said that global trade expanded by nearly USD 1.2 trillion in 2024, reaching USD 33 trilliona result of a 9 per cent rise in services trade and a 2 per cent increase in goods trade. Developing nations, particularly China and India, saw better than average trade expansion, while many developed nations experienced trade contractions, it said. It said that China and India saw stronger trade momentum in Q4 2024 while the US remained a key driver. Merchandise trade showed mixed trends among major economies in Q4 2024. China and India trade continued to increase, particularly in exports. Conversely, export growth in South Korea decelerated, although it remaine

Govt mulls incentives for exporters amid global trade uncertainty

The government is considering additional incentives for exporters to arrest the decline in India's exports and mitigate the potential impact of reciprocal tariff threats by the Donald Trump administration, sources said. Though the government is yet to formulate the exact form of incentives to be given, the Rs 2,250 crore Export Promotion Mission announced in the Budget has room for flexibility in providing more incentives as the schemes are yet to be notified, they added. India's merchandise shipments witnessed a decline in value terms in the three months between November and January. Merchandise exports were USD 36.43 billion in January compared to USD 37.32 billion a year ago. In December, it stood at USD 38.01 billion against USD 38.39 billion in December 2023, while its outward shipments declined to USD 32.11 billion in November 2024 from USD 33.75 billion in the year-ago month. Commerce and Industry Minister Piyush Goyal is expected to hold discussions with export promotion ..

'Premature to talk about details of negotiations on Indo-US trade deal'

Negotiations between India and the US for a trade deal have just begun and it would be premature to talk about its details, government sources said on Saturday, hours after US President Donald Trump said India agreed to cut tariffs "way down". It is natural for both the countries to have their interests and sensitivities and these are legitimate matters for a discussion, the sources said. Last month, India and the US announced that they would negotiate a mutually beneficial, multi-sector Bilateral Trade Agreement (BTA) following talks between Prime Minister Narendra Modi and Trump in Washington DC. Commerce Minister Piyush Goyal was in the US this week to hold talks on the trade deal with his American counterpart as well as the US Trade Representative and their teams. Trump's announcement on Friday that India agreed to bring tariffs "way down" was largely viewed by New Delhi as premature. "India charges us massive tariffs, you can't even sell anything in India, it's almost ...