Page 5 - India Trade

Govt to meet stakeholders to assess impact of Iran-Israel conflict on trade

The commerce ministry on Friday will meet stakeholders, including shipping lines, exporters, container firms, and other departments, to assess the impact of the Iran-Israel conflict on India's overseas trade and address related issues, an official said. The industry official said that the meeting will be chaired by Commerce Secretary Sunil Barthwal. "The meeting is today. We will raise issues related to freight rates," the official said. Barthwal has earlier stated that India is keeping a close watch on the situation. Exporters have stated that the war, if escalated further, would impact world trade and push both air and sea freight rates. They have expressed apprehensions that the conflict may impact the movement of merchant ships from the Strait of Hormuz and the Red Sea. Nearly two-thirds of India's crude oil and half of its LNG imports pass through the Strait of Hormuz, which Iran has now threatened to close. This narrow waterway, only 21 miles wide at its narrowest point, h

India's trade with GCC in focus amid Iran-Israel ongoing conflict

India's trade with West Asia is crucial, considering that apart from Russia, it imports crude oil from Iraq, United Arab Emirates (UAE) and Saudi Arabia

Tangled trade ties: US-China agreement offers little hope of breakthrough

For other trading partners, the US-China deal, as it currently stands, suggests that tariffs would settle at significantly higher levels than before the announcement of the so-called reciprocal tariff

India to restore tax refund benefits for exporters from June to boost trade

The benefits under the Remission of Duties and Taxes on Exported Products were introduced on January 1, 2021, but ended on February 5 this year

US has $35-40 bn surplus with India when services, arms included: GTRI

The US, despite reporting a USD 44.4 billion trade deficit with India, runs a USD 35-40 billion overall surplus when revenues from education, digital services, financial activities, royalties, and arms trade are factored in, economic think tank GTRI said on Monday. It said for India, this means it has every reason to walk into free trade agreement negotiations with confidence, pushing back hard against inflated deficit claims and demanding fair, balanced terms that reflect the full economic relationship, not just a narrow, cherry-picked slice of the ledger. In 2024-24, the US has recorded a trade deficit of about USD 44.4 billion with India, which means Washington has imported far more goods and services from India than it exported. US President Donald Trump has on multiple occasions highlighted this gap, accusing India of unfairly benefiting from trade. Washington is also using the deficit figures to push India to unilaterally lower tariffs and open its market further, the Global

Indian tyre companies draw up road map to steer through tariff jitters

Despite low US exposure, Indian tyre makers are crafting mitigation strategies to address looming tariff threats and persistent margin pressures due to high input costs

Govt to launch digital platform for trade remedy document submissions

The government is developing a digital platform to enable the electronic submission of documents in trade remedy investigations with a view to further promoting transparency, efficiency, and ease of access for all stakeholders, an official statement said on Saturday. These investigations are carried out by the commerce ministry's arm Directorate General of Trade Remedies (DGTR). Since 1995, India has initiated over 1,200 trade remedy investigations and recent interventions have protected domestic sectors including solar energy and advanced materials, such as solar cells and copper wire rods, from unfairly priced imports and subsidized goods. "Looking ahead, the government is developing a digital platform to enable the electronic submission of documents in trade remedy investigations," the commerce ministry said in the statement. The platform is expected to go live soon, offering enhanced transparency, efficiency, and ease of access for all stakeholders, it said. The main objective

India-US trade pact talks moving forward smoothly: Commerce Secretary

India and the US are making steady progress on a bilateral trade deal, with high-level talks scheduled in Washington as both nations explore early wins and deeper economic cooperation

Delivery-based trades moderate in April after hitting eight-year high

Market volatility typically influences delivery-based trading volumes, according to experts

Pahalgam attack: Delhi trade associations to observe bandh on Friday

Trade associations of Delhi have called for a "complete shutdown" of markets in the national capital on Friday in protest against the terror attack in Pahalgam, CAIT said on Thursday. "The brutal terrorist attack in Pahalgam, which claimed the lives of innocent citizens, has caused deep sorrow and anger among the trading community. As a mark of tribute to the deceased and in strong solidarity with the government, leading trade associations of Delhi have called for a complete shutdown of markets in Delhi on 25 April," CAIT said. The Confederation of All India Traders (CAIT) said it fully supports this call and appeals to traders across Delhi to voluntarily keep their establishments closed and observe the bandh peacefully. CAIT has also requested the Delhi Police and administrative authorities to maintain law and order during the bandh and ensure a peaceful environment across all marketplaces.

India-UK trade deal: Indian team may visit London to fix pending issues

India and the UK are trying to speed up discussions on the trade agreement amid fast-changing geopolitical landscape and America's protectionist trade policies

India set to become trusted bridge of connectivity via IMEC: Piyush Goyal

Goyal said that the IMEC is a powerful endorsement of the leadership and partnership of India, Middle East and East Europe

JSW Group may invest Rs 50,000 crore in green steel for European market

"If the Indian industry can really buck up and rise to the occasion, we can be the real replacement for China," said Jindal while speaking at the centenary celebrations of Indian Chambers of Commerce

India's trade gap widens in March as Trump roils markets with tariff war

The gap between exports and imports stood at $21.54 billion last month, the trade data showed Tuesday

India should cut 'outlier agri tariffs' to tackle US tariffs: Policy paper

India must strengthen position in US markets even as it seeks new regions to trade with, says Ashok Gulati in co-written paper

Operation over, patient healing: Trump defends reciprocal tariffs

Trump's tariff salvo has also reignited the fears of a global recession, as well as inflation in the US

Govt examines US tariff move, seeks feedback from exporters: Commerce Dept

India is among countries on which Trump has imposed substantial tariffs, ranging from 46 per cent on Vietnam to 17 per cent on the Philippines, which will kick in from April 9

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