Page 21 - India

Industrial electronics vital to India's $500 bn manufacturing goal: ICEA

India Cellular and Electronics Association (ICEA) on Monday underlined the need for focusing on industrial and infrastructure electronics to achieve the USD 500 billion electronics manufacturing target by 2030-31. The future of India's electronics industry lies not only in the manufacturing of products, but equally in the manufacturing of goods that will automate factories, cities, and transportation networks, the industry body said in a release. Accordingly, ICEA said industrial electronics must be front and centre of India's electronics growth strategy. ICEA, in the release, called for "the urgent need to prioritise industrial and infrastructure electronics as a central pillar of India's USD 500 billion electronics manufacturing target by 2030-31". Pankaj Mohindroo, Chairman of ICEA, stressed that the industrial electronics segment must be recognised as a national strategic priority. "It is the brain and nervous system of every advanced manufacturing setup. Without leadership in

Interview | Raghuram Rajan on US trade deal, state of the Indian economy, declining FDIs, and more

In an exclusive chat with Business Standard, Raghuram breaks down the impact of the tariff wars, the impact of the US tariffs on India

Trump repeats claim he ended India-Pakistan conflict through trade

US President Donald Trump on Sunday yet again took credit for stopping conflicts around the world, including the recent one between India and Pakistan. Since May 10, when Trump announced on social media that India and Pakistan had agreed to a full and immediate ceasefire after a long night of talks mediated by Washington, he has repeated his claim on several occasions. Trump's latest claim comes days after White House Press Secretary Karoline Leavitt said Trump should be awarded the Nobel Peace Prize for ending several conflicts around the world including the one between India and Pakistan. On Sunday, in a post on Truth Social, Trump slammed radio host and author Charlamagne Tha God, and said he (God) knows nothing about him or what he has done, like just ending 5 Wars, including a 31 year bloodbath between Republic of the Congo and Rwanda, where Seven Million people have died, and there was no end in sight. He didn't know that, or India and Pakistan or, wiping out Iran's nuclear .

Samsung calls India key strategic market, upbeat on growth prospects

Consumer electronics major Samsung sees India as a "key strategic market" with "immense potential" and stays optimistic about its growth trajectory, a top company official said. The comment comes against the backdrop of global trade and tariff turmoil, and the latest US salvo of 25 per cent tariff imposition on India. India is not just a strategic market for Samsung but a key pillar in its global future, said JB Park, President and CEO, Samsung Southwest Asia, adding the South Korean Chaebol will "continue to invest in innovation, manufacturing, and local value addition, aligning with India's vision of a self-reliant economy." Samsung's long-term commitment to India remains unwavering, as it sees the country as a cornerstone of its global strategy, he said. Samsung views India as a key strategic market with immense potential. The company remains optimistic about India's growth trajectory, driven by government initiatives like Make in India, Digital India, and a robust digital ...

Trump slaps steep new tariffs on India, Canada, others; markets reel

South Africa's Trade Minister Parks Tau said he was seeking "real, practical interventions" to defend jobs and the economy against the 30per cent US tariff it faces

India's DAP imports from China fall to 97,000 tonnes in July amid new rules

India's import of Di Ammonium Phosphate (DAP) from China has declined sharply and stood at 97,000 tonnes in July this year, Parliament was informed on Friday. DAP is the second most consumed fertiliser after urea in India. Minister of State for Chemicals and Fertilisers Anupriya Patel said DAP import from China declined from approximately 22.28 lakh tonnes in 2023-24 to about 8.47 lakh tonnes in 2024-25 as reported by fertiliser companies. "In July 2025, approximately 0.97 lakh tonnes of DAP have been imported from China," the minister said in a written reply to the Lok Sabha. Phosphatic and Potassic (P&K) fertilisers, including DAP, are under Open General License (OGL). The fertiliser companies are free to import/manufacture these fertilisers as per their business dynamics. Citing reasons for the decline in DAP import, the minister said in October 2021, China amended its catalogue of commodities requiring mandatory additional inspection prior to export of fertiliser-related ...

Starlink gets satellite internet permit, spectrum norms ready: Scindia

Elon Musk-led Starlink has received a licence to launch satellite service in India, and a framework for spectrum allocation is also in place for a smooth rollout, Union Telecom Minister Jyotiraditya Scindia said on Thursday. The announcement was made on the eve of the 30th anniversary of the first cellular call made in the country in 1995. "Starlink has been granted a Unified License to launch satellite internet services in India. Frameworks for spectrum allocation and gateway establishment are ready, ensuring smooth rollout," Scindia said. Along with Starlink, Bharti Group-backed Eutelsat OneWeb and Jio SES are also awaiting spectrum allocation to roll out their satcom services. The minister said that over the last 11 years, under the leadership of Prime Minister Narendra Modi, India's digital transformation has been nothing short of extraordinary. "From remote villages to bustling cities, digital access has empowered citizens, bridged divides, and made India a global leader in .

Philippines president to visit India from Aug 4-8, hold talks with PM Modi

President of the Philippines, Ferdinand R Marcos Jr., is slated to visit India from August 4 to 8 during which he will meet President Droupadi Murmu and hold bilateral talks with Prime Minister Narendra Modi, the Ministry of External Affairs (MEA) on Thursday said. This is his first visit to the country since assuming the office of the President of the Republic of the Philippines, it said. The forthcoming state visit of President Marcos coincides with the 75th anniversary of India-Philippines diplomatic relations. The visit is an opportunity for both leaders to "set the path for future bilateral cooperation", and to engage on regional and international issues of mutual interest, the MEA said. Prime Minister Modi and President Marcos are scheduled to hold bilateral discussions on August 5, it said. President Marcos will also be meeting President Murmu during his visit. External Affairs Minister S Jaishankar is also scheduled to call on him during the visit, the MEA said in a ...

US tariffs may hit India's IT sector indirectly via tech spend cuts: EY

Though the Indian IT services sector is not directly hit by the newly-announced 25 per cent US tariffs on goods, the ripple effects could be "substantial" as rising input costs may prompt US companies to scale back discretionary tech spends, Nitin Bhatt, Technology Sector Leader at EY India said on Thursday. The tariff announcement comes at a time when the export-led Indian IT industry is grappling with macroeconomic uncertainties and the advent of Artificial Intelligence (AI). "While the Indian IT services sector isn't directly hit by the newly announced 25 per cent US tariffs, the ripple effects could be substantial. Rising input costs may prompt US companies to scale back discretionary tech spending. Simultaneously, growing unease around workforce mobility and evolving digital taxation frameworks could redefine how cross-border services are priced and delivered," Bhatt said. Companies that pivot to hybrid delivery models, diversify geographically, and embed AI at scale will be ..

India's electricity demand to grow just 4% in 2025 amid cooler summer: IEA

India's electricity demand is expected to grow by a moderate 4 per cent in 2025, after cooler summer temperatures in the first half of the year reduced consumption and shifted peak load to September, the International Energy Agency (IEA) said. In its mid-year update on electricity, IEA said while global power demand is rising much faster than the forecast for the 2025-2026 period than it did during the past decade, electricity demand in China and India is expected to rise at a more moderate pace in 2025 than the rapid growth seen in 2024. "After 6 per cent growth in 2024, electricity demand in India is forecast to rise by 4 per cent this year," it said. IEA projected Chinese consumption to rise 5 per cent in 2025, down from 7 per cent in the previous year. However, China alone will account for 50 per cent of global electricity demand growth, as it did in 2024. "In India, the impact of global economic uncertainties on industrial activity and cooler summer temperatures compared to 20

US team to visit India on Aug 25 for next round of talks for trade pact

The US team will visit India on August 25 for the next round of negotiations for the proposed bilateral trade agreement between the two countries, an official said on Tuesday. The official added that the two sides continue to be engaged in an interim trade deal as the August 1 deadline is approaching. August 1 marks the end of the suspension period of tariffs imposed by US President Donald Trump on dozens of countries, including India (26 per cent). "The US team is visiting for the sixth round of talks," the official said. India and the US teams concluded the fifth round of talks for the agreement last week in Washington. India's chief negotiator and special secretary in the Department of Commerce Rajesh Agrawal and Assistant US Trade Representative for South and Central Asia Brendan Lynch held the deliberations. These deliberations are important as both sides are looking at finalising an interim trade deal before August 1. On April 2 this year, Trump announced high reciprocal .

India overtakes China to become world's top smartphone maker for the US

Apple assembled $22 bn worth of iPhones in India over the 12 months ending in March 2025, representing a nearly 60% increase year-on-year, with the majority manufactured at Foxconn's facility

'Historic' FTA with Britain shows world's trust in India: PM Modi

Prime Minister Narendra Modi on Saturday described the recently concluded FTA between India and UK as 'historic,' and said the trade pact showed the world's trust in the country. As regards Operation Sindoor, he said weapons manufactured under the 'Make in India' initiative played a great role during the cross-border military offensive in destroying enemy targets and made enemies lose sleep. The PM inaugurated, laid foundation stones and dedicated projects worth Rs 4,900 crore here and underscored the NDA government's commitment towards Tamil Nadu's growth. In his address after inaugurating the projects, Modi said he was blessed to directly land in Tamil Nadu after completing his foreign tour during which the India-UK Free Trade Agreement was signed before his visit to the Maldives. The trade pact with Britain was 'historic.' "India and Britain signed a FTA. This shows the growing trust of the world and our self-confidence. We will make Viksit (developed) Bharat and Viksit Tamil N

India reserves right to retaliate if carbon tax hurts our exports: Goyal

Commerce and Industry Minister Piyush Goyal on Saturday said India will "react and retaliate" if the UK imposes a carbon tax in the future that harms domestic exports. The UK government in December 2023 decided to implement its Carbon Border Adjustment Mechanism (CBAM), starting in 2027. "As of now, no CBAM, we are a sovereign and a very powerful nation today...So, if anybody hurts our exports interest, we will react and hurt and retaliate or rebalance to make sure that our interest is not hurt," he told reporters when asked about the UK's proposed CBAM. "I can assure that no unilateral measure which hurts India can go away without a proportionate response from India," he added. Sources have said India flagged the issue during negotiations of the trade agreement. The comprehensive economic and trade agreement (CETA) was signed on July 24, with an aim to double bilateral trade by 2030. The issue is not in the pact, as Britain has not yet notified of the tax. Goyal added that the E

India, UK firms upbeat on FTA to double trade to $112 bn by 2030: Goyal

Commerce and Industry Minister Piyush Goyal has said that businesses in Britain as well as India are optimistic about the free trade agreement which aims to double the bilateral trade to USD 112 billion by 2030. The India-UK free trade agreement, also called Comprehensive Economic and Trade Agreement (CETA), was signed by Goyal and his counterpart Jonathan Reynolds in presence of Prime Minister Narendra Modi and British Prime Minister Keir Starmer on Thursday. In a post-signing interaction with business leaders from across sectors, Goyal said," Investors are looking to double down on their investments. People in industry and manufacturing are looking to expand markets. The services sector is excited about the growth potential. Everybody, whether from government or from the private sector, has a shared commitment to double the trade between the two countries by 2030." Anuj Chande, Partner at Grant Thornton UK and Head of its South Asia Business Group said," It (the deal) certainly .

India, UK to work on recognition of professional degrees to ease movement

India and the UK have agreed to negotiate mutual recognition agreements (MRAs) after implementing the trade deal, as these pacts are important for facilitating the movement of professionals such as nurses, accountants and architects to Britain, an official said. The India-UK trade agreement was signed on Thursday and it may take about a year for its implementation as it requires approval of the British parliament. "It has been agreed that both countries will engage on mutual recognition of qualifications because in certain professional services, recognition of qualifications is an essential requirement like nurses, architects, accountants, and dentists. Within a period of 36 months, we will try to enter intoAs with the UK," a commerce ministry official said. MRAs in professional services are voluntary pacts between competent authorities of respective nations. These confer recognition of certain licensing or qualification requirements obtained in the jurisdiction of other ...

India fails to secure exemption from UK carbon tax in trade deal: GTRI

India was unable to secure an exemption from the UK's carbon tax in the free trade agreement, signed on Thursday, a move that will impact India's carbon-intensive exports to Britain, think tank GTRI said on Friday. The UK government in December 2023 decided to implement its Carbon Border Adjustment Mechanism (CBAM) starting 2027. By not securing a carve-out or exemption clause on CBAM (carbon border adjustment mechanism), India lost a vital opportunity to protect its carbon-intensive exports, the Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said. "From January 2027, the UK can impose carbon taxes on Indian steel and aluminum, even as we grant UK goods duty-free access. That's a serious asymmetry. Expect the same treatment in India's trade agreement with the EU," he said. The GTRI in May stated that India's exports worth USD 775 million to the UK may be impacted due to Britain's decision to introduce a carbon tax on products such as iron and steel, aluminium, ...

India-UK FTA may restrict India's use of compulsory licensing: GTRI

India has accepted language in the intellectual property chapter of the free trade agreement with the UK that subtly curtails its ability to issue compulsory licences, a critical tool for accessing life-saving technologies during emergencies, think tank GTRI said on Thursday. It also said that India has agreed to "adequate remuneration" norms for compulsory licensing for the pharma sector in the agreement with the UK, thus risking delays in future access to affordable medicines and green tech. The Global Trade Research Initiative (GTRI) said that in "a significant concession, India has accepted language in the Intellectual Property (IP) chapter of the agreement that subtly curtails its ability to issue compulsory licenses (CL), a critical tool for accessing life-saving technologies during emergencies". "For the first time" in any trade agreement, India has explicitly agreed to wording that stresses the need for 'adequate remuneration' to patent holders, GTRI founder Ajay Srivastava

India-UK FTA to cut spirit duties, but price drop may be limited: Experts

The India-UK free trade agreement will reduce duties on imported spirits, making premium international options more accessible to Indian consumers, according to industry players, but experts cautioned that the benefits may be limited as the maximum price reduction could be only up to Rs 300 per bottle. As per the FTA signed in London between the two governments, India is reducing duty on UK whisky and gin from 150 per cent to 75 per cent and further to 40 per cent in the tenth year of the deal. "Whisky producers will benefit from tariffs slashed in half, reduced immediately from 150 per cent to 75 per cent and then dropped even further to 40 per cent over the next ten years - giving the UK an advantage over international competitors in reaching the Indian market," as per an official statement of the UK government. Reacting to the development, the International Spirits and Wines Association of India (ISWAI), which represents premium alcoholic beverage companies in India (mostly MNCs)

India reopens doors to Chinese tourists, ends 5-year suspension | India-China relations

India will resume tourist visa issuance for Chinese nationals from today, July 24.This marks the first time since 2020 that Chinese tourists can apply to visit India. Watch the video for details.