Page 2 - Indian Export

India, US will 'come together' despite 50% tariffs: Treasury Secretary

US Treasury Secretary Scott Bessent, however, criticised India's continuous imports of Russian oil, saying that they have been profiteering from it

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

Commerce ministry holds talks with exporters to counter steep US tariffs

The Commerce Ministry will hold a series of meetings this week with exporters from various sectors, including chemicals, gems and jewellery, to discuss ways to boost exports to new markets to shield industries from the steep 50 per cent US tariffs on Indian goods, an official said on Wednesday. The official also said work is progressing fast on the formulation of the Export Promotion Mission, announced in the Budget for 2025-26. "In the next 2-3 days, the ministry will meet stakeholders on the diversification of exports," the official added. The steep 50 per cent tariff on Indian goods entering the United States, which came into effect from August 27, would impact exports worth more than USD 48 billion. The sectors which would bear the brunt of the high import duties imposed by the Trump administration include textiles/ clothing, gems and jewellery, shrimp, leather and footwear, animal products, chemicals, and electrical and mechanical machinery. Sectors such as pharma, energy ...

US tariff shock to hit Bengal's leather, marine, and engineering exports

The additional 25 per cent tariff imposed by US President Donald Trump on India is set to deliver a major blow to West Bengal's export-driven economy, with the state's labour-intensive leather, engineering and marine sectors expecting losses ahead of the festive season, stakeholders said. The increased levies on Indian products for the country's purchases of Russian oil came into effect on Wednesday, bringing the total amount of tariff imposed on New Delhi to 50 per cent. Exporters said shipments and even production are "currently on hold", amid geopolitical headwinds, intensified by the US tariffs. 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. Labour-intensive industries are under severe pressure. In marine exports, the maximum of Bengal's annual shipments may collapse," Yogesh Gupta, regional chairman (east) of the Federation of Indian Export Organisations (FIEO) and a leading marin

US slaps steep tariffs on Indian goods, exports set to fall from Wednesday

The new duties will apply from 12:01 am EDT on Wednesday (9:31 am IST), it showed. Exceptions are shipments in transit, humanitarian aid, and items under reciprocal trade programmes

Govt cuts minimum export price of natural honey to $1,400 per tonne

The government has cut the minimum export price (MEP) on natural honey from USD 2,000 per tonne to USD 1,400 per tonne till the end of this year, according to a notification. Exports below this MEP are not permitted. "MEP on natural honey is revised from USD 2,000 per metric tonne to USD 1,400 per metric tonne with immediate effect, till December 31, 2025," the Directorate General of Foreign Trade (DGFT) has said in a notification. The MEP was introduced in March 2024. The major exporting destinations are the US, UAE, Saudi Arabia and Qatar. The Centre has rolled out the National Beekeeping and Honey Mission (NBHM) for promoting scientific beekeeping for the holistic growth of the sector. The main honey producing states are Uttar Pradesh, West Bengal, Punjab, Bihar and Rajasthan. In 2023-24, India exported the commodity worth USD 177.52 million.

Govt mulls ₹25k cr support for exporters over six years under EPM scheme

The government is considering support measures worth about Rs 25,000 crore for exporters under the Export Promotion Mission, announced in the Budget, for six financial years (2025-2031), according to sources. "The main focus is on providing easy and affordable credit to the exporter community," they said. The commerce ministry has sent the proposal to the expenditure finance committee (EFC) of the finance ministry. The measures, if approved, can help insulate domestic exporters from global trade uncertainties arising from Trump tariffs. The US has imposed a hefty 50 per cent tariff on Indian goods, starting August 27. At present, a 25 per cent duty is in place. After the approval of the proposal from the EFC, the commerce ministry would approach the Union Cabinet. The proposed mission, a flagship initiative announced in the Union Budget 2025-26, seeks to enable broad-based, inclusive, and sustainable export growth over six years (FY 2025-31) by exploring approaches beyond conventi

India-US ties rooted in shared values, have weathered challenges: MEA

The statement comes amid rising tensions between the two nations, with the US imposing 50 per cent tariffs on Indian imports, including a 25 per cent penalty for Russian oil purchases

US tariff hike could pressure India's economy and banks, says CreditSights

India and the US have held five rounds of trade negotiations, with the sixth round scheduled later this month in India

Indian solar panel exporters on edge as US launches anti-dumping probe

US initiates anti-dumping and countervailing duty investigations on Indian solar exports, adding pressure to shipments already facing 50% tariffs

Howrah foundries rush to export extra shipments to beat looming US tariffs

Saha is oblivious to the tug-of-war over tariffs. He is simply racing to meet a tight deadline for orders bound for the United States -- a story repeated across the export-focused units of Howrah

Trump tariffs to impact 55% of total merchandise exports to US: MoS Finance

"A combination of different factors, such as product differentiation, demand, quality, and contractual arrangements, would determine the impact on India's exports," he said

Govt targets 50 countries including West Asia, Africa to boost exports

The government is working on measures to boost India's exports, including targeting 50 countries in regions such as the Middle East and Africa, amid the heavy tariffs imposed by the US on Indian goods, an official said on Monday. These 50 countries account for about 90 per cent of India's exports. The official said that the commerce ministry is working on four pillars including export diversification, import substitution, and export competitiveness "Detailed analysis is underway on these pillars. The ministry is working product by product," the official said. The commerce ministry was already focusing on 20 countries and now 30 more have now been included in the strategy. India's exports remained flat at USD 35.14 billion in June due to global economic uncertainties, while the trade deficit narrowed to a four-month low of USD 18.78 billion during the month. During April-June 2025-26, exports increased 1.92 per cent to USD 112.17 billion, while imports rose 4.24 per cent to USD 17

Trump's 50% tariffs forcing Indian banks to scrutinise exporters' loans

Lenders are asking borrowers more pointed questions when vetting new export financing proposals or renewals of such funding

US tariff: Shrimp biz worth ₹25K cr at stake; farm gate rates drop 19%

Trump's 50% tariff on Indian seafood exports leads to sharp drop in shrimp prices, hurting farmer income in Andhra Pradesh and Odisha; industry urges diversification

US doubles tariff on India to 50% over Russian crude oil purchases

'Unfair, unjustified, unreasonable', says MEA; new rates from August 28

Trump tariffs may cut India's US-bound exports by up to 50%: GTRI

The tariffs announced by the US are expected to make Indian goods far costlier in the US, with the potential to cut America-bound exports by 4050 per cent, think tank GTRI said on Wednesday. On August 6, Washington announced an additional 25 per cent tariff on all Indian imports, on top of an existing 25 per cent duty, taking the total to 50 per cent from August 27. The White House said the measure responds to India's continued purchase of Russian oil. The move places India among the "most heavily" taxed US trading partners, far above rivals such as China, Vietnam, and Bangladesh, and threatens most of India's USD 86.5 billion in annual exports to America, from textiles to machinery, Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said. He said in 2024, China bought USD 62.6 billion of Russian oil, more than India's USD 52.7 billion, yet faces no such penalties. Washington avoids targeting Beijing because of China's leverage over critical materials such as gallium,

Farm, crude, trade deadlock push India-US ties into rougher terrain

Trump's tariff cannon has fired - and India's first-mover advantage is in tatters. With 5 rounds of failed talks and rising pressure over Russian oil, New Delhi now faces its sharpest trade test yet

Exporters seek govt aid, credit at affordable rates to deal with US tariffs

Indian exporters from various sectors, including food, marine, and textiles, have sought financial assistance and affordable credit from the government to cope with the 25 per cent Trump tariff, industry officials said. In a meeting with Commerce and Industry Minister Piyush Goyal in Mumbai, certain exporters sought plans on the lines of the production-linked incentive (PLI) scheme, they added. "Exporters share issues, which they may face in the American market because of the high duty announced by US President Donald Trump," one of the officials said, adding that the minister has suggested that the exporting community send their suggestions in writing. They also demanded loans at affordable rates and fiscal incentives. In India, according to exporters, interest rates range between 8 and 12 per cent or even more, depending on the spread and risk assessment of the borrower by authorised dealer banks. In competing countries, the interest rate is very low. For instance, the central ba

Leather, textile, shrimp exports to be hit hard by 25% US tariff: Experts

Domestic export sectors such as leather, footwear, textiles and shrimp will be hit hard by the imposition of the 25 per cent tariff by the US, industry experts say. "Quick estimates suggest that India's goods exports in FY 2026 may come down by 30 per cent from USD 86.5 billion in FY 2025 to USD 60.6 billion in FY 2026," GTRI Founder Ajay Srivastava said. The duty, announced this week, will come into force from August 7 (9.30 am IST). These will be over and above the exiting standard import duty in the US. The 25 per cent tariff will replace the existing 10 per cent baseline tariff. The modified tariff is one per cent less than the 26 per cent levy announced by President Donald Trump on April 2. A White House executive order mentions that tariffs may be reduced once countries make a deal with the US. The executive order also clarifies that goods in transit until October 5, 12:01 am eastern daylight time (EDT), or 09:30 am IST, will be subject to a 10 per cent tariff, provided that