Page 13 - Trade

US reciprocal tariffs: Exporters flag concerns of dumping from China

Till now, American buyers were already keeping their orders on hold owing to the lack of clarity on reciprocal tariffs

Trump's tariffs are India's opportunity to boost Viksit@2047 goals

It is quite clear that this announcement is only the beginning, and the US will impose tariffs across the board, without discriminating between its friends and not-so-good friends

Merchandise exports may fall slightly to $435 billion in FY25: GTRI

The country's merchandise exports, which have been contracting since October last year, are expected to decline slightly by the end of this fiscal year and fall below USD 435 billion, think tank GTRI said on Sunday. Exports dipped 10.85 per cent in February to USD 36.91 billion due to volatility in petroleum prices and global uncertainties. "At this rate, India's total merchandise exports for FY'2025 are expected to be below USD 435 billion, slightly lower than USD 437.1 billion in FY'2024," Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said. During April-February 2024-25, the exports stood at USD 395.63 billion as against USD 395.38 billion in the corresponding period of 2023-24. Key sectors that recorded negative growth both in February and cumulatively include petroleum products, gems and jewellery, ceramic products and glassware, oil seeds, oil meals, and iron ore. These sectors are facing consistent declines, indicating the need for strategic interventions t

Trump tariffs: India needs short- and medium-term agricultural trade plans

From 2022 to 2024, India earned $5.75 bn per year from agri-export to the US, which constituted one-tenth of India's agri exports to the world. In the same period, India imported agricultural product

Data localisation norms a key sticking point in India-US BTA talks

Among digital services, one of the contentious issues on the table is India's data localisation norms - cross-border flow of data - that have been a concern for American companies

India's growth story intact despite US tariff threat, says Piyush Goyal

Since taking over as the US President over two months ago, Trump has been implementing protectionist policies in an attempt to Make America Great Again

India, Japan likely to sign pact on sharing emission-reduction credits

Once finalised, carbon credits will be tracked through a registry, with joint committees managing projects and certifying credits issued based on reports

Uncertainty in trade policy, geopolitics risk to growth next year: FinMin

Estimates of agricultural production suggest positive outlook for food inflation

The real culprit on trade: China, not Trump, broke trading system

The interregnum of a Democratic administration under President Joe Biden did little to reverse Mr Trump's original actions destabilising the global trading order

All EOU, AAH, SEZ exports during extended period should get Rodtep benefits

Rodtep scheme seeks to refund the duties/taxes/levies, at Central, State and local level, borne on manufacture and distribution of the exported product, which are not rebated through any other schemes

Exports from SEZs and EOUs till Feb 5 eligible for Rodtep scheme benefits

Companies that have exported goods until February 5 this year from special economic zones (SEZs) and export-oriented units (EOUs) can claim benefits under the RoDTEP scheme, according to a notification. Earlier, the exporters were allowed to seek benefits under the scheme till December 31, 2024. Under Remission of Duties and Taxes on Exported Products (RoDTEP), various central and state duties, taxes, and levies imposed on input products, among others, are refunded to exporters. The current RoDTEP rates are in the range of 0.3-4.3 per cent. "The support under RoDTEP scheme for exports of products manufactured from AAs (advance authorisation), SEZs (special economic zones) and EOUs (export-oriented units) has been extended upto February 5, 2025," the DGFT has said in a notification on March 20. However, from February 6 onwards, exports from these categories will no longer be eligible for RoDTEP support, the Directorate General of Foreign Trade (DGFT) said. The support under the sch

India's export of key items sees double-digit contraction, says report

Data released by the commerce department on Monday showed that outbound shipments from India shrank at the sharpest pace in 20 months-by 10.9 per cent on-year--to $36.91 billion in Feb

Trade war, tariff to impact global growth, fuel inflation: RBI report

India sustaining growth momentum; Lower inflation to support recovery

India imports increase 11.3% to 265 million tonnes of coal in FY24

The FY24 import included 59 mt of coking coal and 205 mt of non-coking coal worth ₹1.33 trillion, Union Coal Minister G Kishan Reddy said on Wednesday

Medical device body asks Centre to revisit import duty reduction talks

This comes just days after economic think tank GTRI had asked government officials to seek reciprocity and improve market access for the Indian medical devices sector

Prioritise talks on core trade issues for faster FTA: Commerce secy

Long-drawn negotiations that take years often result in businesses losing interest in trade talks. However, focusing on core trade issues can help India navigate complex negotiations more efficiently

India should seek reciprocity from EU on medical devices under FTA: GTRI

India should seek reciprocal concessions from the European Union (EU) under the proposed free trade agreement (FTA) in the medical devices sector to promote its exports, economic think tank GTRI said on Sunday. India charges zero to 10 per cent tariffs on most medical devices and a duty cut by India on medical devices without addressing EUs regulatory challenges will result in low exports but large scale imports from EU. "To achieve a fair trade deal, India must demand reciprocity. India should cut tariff on medical devices only if the EU reduces its non-tariff barriers," the Global Trade Research Initiative (GTRI) said. The ongoing India-EU FTA negotiations on medical devices are asymmetrical. While the EU demands zero tariffs on medical devices from India, it maintains high regulatory barriers that hinder Indian exports difficult in the EU markets, it added. GTRI Founder Ajay Srivastava said the EU customs duty rates are zero, but market entry costs are substantial because of th

Trade war turmoil topples Canada's financial market from all-time high

Trade war turmoil is weighing heavily on financial markets in Canada. Canada's main stock index has been tumbling along with US indexes since President Donald Trump initiated a trade war with his North American neighbours. Mexico's main stock index has remained relatively steady following measures from the Mexican government to stabilise financial markets. The Toronto Stock Exchange's S and P/TSX composite index reached an all-time high on January 30. It started sliding a day later following the first salvo in the form of announced 25 per cent tariffs on all goods from Canada and Mexico. Since then, Trump has rattled markets with uncertainty as he changes his mind on implementing or delaying tariffs on a seemingly daily basis. The S and P/TSX composite has shed about 5 per cent since Trump opened the trade war on January 31. The financial sector is among the hardest hit, with a 8.6 per cent drop. The industrial sector is down 7.4 per cent, while the energy sector has shed 5.4 per

India well placed to tackle Trump's tariff volleys: Blackstone CEO

Blackstone to invest $100 bn in India in future

No commitment to US on tariff cuts; deal negotiations on, says govt

Commerce, foreign secys brief House panel on current scenario