Page 5 - Trade

CM Yogi reviews UP int'l trade show prep; PM to inaugurate on Sept 25

According to the CM's office post, Prime Minister Narendra Modi is set to inaugurate the trade show with Russia participating as a partner country

World needs stable environment for trade; practices must be fair: India

The world is seeking a stable and predictable environment for trade and economic practices should be fair, transparent and to everyone's benefit, External Affairs Minister S Jaishankar said on Monday, against the backdrop of increasing global concerns over Washington's tariff tussle. In an address at a virtual BRICS summit, the external affairs minister said India strongly believes that the international trading system's foundational principles of non-discriminatory and rules-based norms must be protected and that there is a need to create more resilient and reliable supply chains. Jaishankar represented Prime Minister Narendra Modi at the summit that saw participation of Chinese President Xi Jinping, Russian President Vladimir Putin and several other leaders of the grouping. It was convened by Brazilian President Luiz Inacio Lula da Silva to discuss trade disruptions triggered by US' policies on trade and tariff. The US slapped 50 per cent tariffs on Brazilian exports like in the

India reduces local remedies exhaustion period for Israel under BIA

India has cut down the local remedies exhaustion period for Israeli investors to three years from the earlier five years under the Bilateral Investment Agreement (BIA) signed on Monday between the two countries. A similar provision was included in India's investment pact with the UAE, which came into effect last year. The India-Israel BIA, aimed at providing comfort to investors of both countries, also includes portfolio investments in a deviation from such treaties in the past. Local remedies exhaustion means that investors must first try to resolve their disputes using the legal system of the host country before they can take the matter to international arbitration. Normally, India keeps a five-year period for this. An official said that the India-Israel BIA was signed on the lines of the India-UAE bilateral investment treaty. Israel is the first OECD (Organisation for Economic Co-operation and Development) member with which India has inked this agreement. The pact includes ..

It's 'blood money': Navarro's new rant on India's purchases of Russian oil

US President Donald Trump's trade advisor Peter Navarro on Monday termed India's purchases of Russian oil as "blood money" and said Delhi didn't buy oil from Moscow in large quantities before the Ukraine conflict. Using an expletive in his post on X, Navarro said, "Fact: India didn't buy Russian oil in large quantities before Russia invaded Ukraine. It's blood money and people are dying." Last week, Navarro, White House's Senior Counsellor for Trade and Manufacturing, had said in a post that India highest tariffs costs U.S. jobs. India buys Russian oil purely to profit/Revenues feed Russia war machine. Ukrainians/Russians die. U.S. taxpayers shell out more. India can't handle truth/spins. When a community note was added to Navarro's post by X, he slammed Elon Musk, saying the X billionaire owner is letting propaganda into people's posts. That crap note below is just that. Crap. India buys Russia oil solely to profiteer. It didn't buy any before Russia invaded Ukraine. Indian govt sp

India, EU advance talks on trade agreement, target year-end deal

Eyeing to conclude their ambitious free trade deal soon, India and European Union will hold two rounds of crucial negotiations in next one month to overcome differences in areas of rules of origin, market access and duties on wine and dairy products, authoritative sources said on Sunday. European Commission's agriculture commissioner Christophe Hansen and trade chief Maros Sefcovic are visiting India this week to hold talks with their Indian interlocutors as both sides look to seal the free trade agreement (FTA) by end of this year. The European Union is India's biggest trade partner with bilateral trade in goods recording USD 135 billion in the financial year 2023-24. Besides the trade deal, India and the EU are also in the process of firming up a series of transformative initiatives including a new politico-strategic vision and key foundational frameworks to expand defence ties -- moves that came against the backdrop of increasing geopolitical uncertainty. Significantly, the EU w

India, Israel likely to sign bilateral investment agreement next week

The expected treaty may offer investors from Israel and India protection based on international norms, promises non-discriminatory minimum treatment, and independent arbitration

Goyal assures help to exporters to deal with global trade uncertainties

Commerce and Industry Minister Piyush Goyal on Wednesday assured exporters to support them in dealing with steep tariffs imposed by the US, an official said. He also reaffirmed the government's commitment to safeguarding the interests of Indian exporters amid the evolving global trade scenario. He assured industry representatives that the government is actively engaged in creating an enabling environment to help exporters navigate recent challenges, the official said. The minister urged exporters to upgrade product quality, align with global standards, diversify supply chains, and explore alternate markets. These issues were discussed during a meeting convened by the commerce ministry with representatives of export promotion councils (EPCs) and industry associations to address rising global tariffs, explore solutions, and chart a path forward amid shifting trade dynamics. "He assured EPC and industry representatives that the government remains committed to providing a supportive .

US tariffs: India eyes Russia, Netherlands for pharma exports' growth

India's pharmaceutical industry is currently exempt from U.S. President Donald Trump's tariffs of up to 50% but the sector has been on edge due to the uncertainty surrounding the situation

Rupee hits fresh intraday low of 88.33 on tariff fears, ends flat at 88.20

The rupee hit a fresh low of 88.33 on tariff concerns before recovering losses to end flat at 88.20 per dollar on likely RBI intervention, amid continued FPI outflows

Re-export of goods from DTA to SEZ must get drawback U/S 74 of CA62

I think the CBIC should take note of the difficulties of the trade and amend the definition of 'export' at Rule 2(b) of Re-export of Imported Goods (Drawback of Customs Duties) Rules, 1995.

India Post suspends all US-bound mail services over new tariff rules

India Post has halted booking and dispatch of all US-bound mail, citing operational hurdles under new US tariff rules, affecting families, students and small exporters

Qatar wants to negotiate trade pact with India, says Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Friday said a proposed Free Trade Agreement (FTA) with Oman will be finalised soon, and Qatar also wants to negotiate a pact with India. He said that India has already signed such acts with a number of developed economies, including Australia, the UK, the UAE, Mauritius, and four-European nation bloc European Free Trade Association (EFTA). Besides, India is negotiating trade pacts with the European Union (EU), the US, New Zealand, Chile, and Peru. These agreements, he said, will open up new opportunities, markets, and investment possibilities. Negotiations with the EU are moving at a faster pace, Goyal said, adding Commerce Secretary Sunil Barthwal is visiting Brussels next week to take stock of the trade pact talks. The India-EU official team will meet for the 13th round of negotiations from September 8 here in the national capital. After that, European Commissioner for Trade Maros Sefcovic is likely to visit India next month to tak

Trump tariff may hinder tyre makers' growth momentum in US: Industry body

The steep Trump tariff will severely constrain Indian tyre makers' ability to sustain the momentum established in the last few years in America, and there is a need for immediate policy support to help mitigate the adverse impact, the Automotive Tyre Manufacturers' Association (ATMA) said on Thursday. Tyre exports from India to the US will now face a tariff of 50 per cent on most categories and 25 per cent on specific categories. Competing economies such as China, Thailand, Vietnam, Cambodia and Indonesia continue to attract far lower tariffs, putting India at a distinct strategic disadvantage in its largest export market, the Automotive Tyre Manufacturers' Association (ATMA) said in a statement. "Hike in US tariffs will severely constrain the ability of Indian manufacturers to sustain export momentum established in the last few years, particularly since the US is our largest export destination," ATMA Chairman, Arun Mammen said. The Indian tyre industry has invested over Rs 28,000

FM pledges support, vows to safeguard traders' interests amid US tariffs

Finance Minister Nirmala Sitharaman on Thursday assured an exporters' delegation that the government stands firmly with them in this challenging time and is committed to addressing their concerns, while exploring every possible avenue to safeguard their interests amidst high US tariffs, FIEO said in a statement. The assurance was given to a delegation of the Federation of Indian Export Organisations (FIEO) led by its President S C Ralhan. They apprised her of the challenges faced by Indian exporters due to the recent escalation of tariffs imposed by the United States. During the interaction, Ralhan said he highlighted the immediate concerns of the exporting community, particularly the adverse impact of higher tariffs on market access, competitiveness, and employment generation. He underscored the need for quick and calibrated policy measures to mitigate the strain on India's exporters, who have been key drivers of growth and job creation. "The Finance Minister reassured the delegat

US tariffs to hit nearly one-fourth of textile exports in 6 months: Experts

As the 50 per cent tariffs imposed by the US come into effect, close to one-fourth of India's textile exports may be severely impacted in the next six months, with America being the largest export market for the country's apparel industry and exporters grappling with order cancellations, experts said on Thursday. However, the extension of duty-free import of cotton by three more months till December 31 is expected to bring some much-needed relief to the domestic textile industry, as it looks to mitigate the impact of the steep tariffs by re-orienting its export strategy and exploring alternate destinations other than the US, by leveraging India's existing free trade agreements (FTAs). "We are looking at a hit of at least 20-25 per cent for the next six months, if I am considering some amount of re-orientation to be done because otherwise the figure is 28 per cent of exports, largely apparel and made-ups," Confederation of Indian Textile Industry (CITI) Secretary General Chandrima ...

US tariffs: Govt to launch outreach in 40 nations to push textile exports

India is planning dedicated outreach programmes in 40 countries, including the UK, Japan, and South Korea, to push textiles exports amid a 50 per cent tariff imposed by the US on Indian products, an official said on Wednesday. Other nations include Germany, France, Italy, Spain, the Netherlands, Poland, Canada, Mexico, Russia, Belgium, Turkiye, the United Arab Emirates, and Australia. "In each of these 40 markets, this is proposed to pursue a targeted approach, positioning itself as a reliable supplier of quality, sustainable, and innovative textile products with the lead role of the Indian industry, including EPCs and Indian Missions in these countries," the official said. India already exports to over 220 countries, but the 40 importing countries hold the real key to diversification. Together, these 40 countries represent more than USD 590 billion in textile and apparel imports, offering vast opportunities for India to enhance its market share, which currently stands at only arou

Weighed down by 50% US levy, Indian exporters recalibrate strategy

Vinod Kumar, president of the India SME Forum, said outreach to about 100,000 members has drawn 1,035 responses, with entrepreneurs already mapping ways to cope with the tariffs

Texmaco, RVNL form joint venture to boost rail modernisation, exports

Rolling stock maker Texmaco Rail & Engineering Ltd on Wednesday said it has formed a joint venture with Rail Vikas Nigam Ltd (RVNL) to strengthen India's railway modernisation and export competitiveness. The venture will manufacture freight and passenger rolling stock including wagons, locomotives, coaches, trainsets and metro coaches and also take up EPC projects, depot operations and global tenders, a statement said. Texmaco, part of the Adventz Group, will hold a 49 per cent stake, while Navratna PSU RVNL will remain the majority shareholder. The transaction is expected to close by December 2025, subject to approvals. The JV will explore automation, artificial intelligence and green technologies to deliver advanced and cost-effective solutions, the companies said. Adventz Group chairman Saroj Kumar Poddar said the JV will expand India's capacity to deliver world-class rail infrastructure. It will open doors for innovation, exports and digital technologies, making Indian ...

Textiles, jewellery stocks to remain in focus amid 50% US tariffs: Analysts

Stock market investors may remain jittery in the near term as the steep 50 per cent tariff on Indian goods entering the United States came into effect from Wednesday, with sectors like textiles, gems and jewellery, leather expected to remain in focus, when the benchmark indices begin trading on Thursday, analysts said. Market experts, however, believe that panic is unlikely since the 50 per cent tariff is not unexpected and in the near term, stocks may remain range-bound. The additional 25 per cent tariff imposed by US President Donald Trump on India for its purchases of Russian oil came into effect Wednesday, bringing the total amount of levies imposed on New Delhi to 50 per cent. Sectors that 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. The domestic equity market is closed on Wednesday on account of

A week of hopes, anxieties and expectations ahead for exporters

President Donald Trump surprised India earlier this month by imposing 25 per cent tariffs on Indian goods entering the US, in addition to the 25 per cent reciprocal tariffs