Page 6 - Trade

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

India, Eurasian Economic Union ink terms of reference for trade pact talks

India and the five-nation Eurasian Economic Union bloc on Wednesday inked terms of reference to start formal negotiations for a proposed free trade agreement, an official statement said. The five members of the Eurasian Economic Union (EAEU) are Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia. The development is important as India is looking to diversify its export markets due to high tariffs imposed by the US. The terms of reference (ToR), the commerce ministry said, provides the framework for negotiations and is expected to unlock untapped trade potential, increase investments and establish a stronger, durable IndiaEAEU economic partnership. Both sides reaffirmed their commitment to the early conclusion of the agreement and to building a long-term institutional framework for trade cooperation, it said. The two-way trade stood at USD 69 billion in 2024, an increase of 7 per cent over 2023. With a combined GDP of USD 6.5 trillion, the proposed free trade agreement (FTA) is ..

India's richest families benefit from Russian crude oil deals: Bessent

"They are reselling, they made $16 billion on excess profits - some of the richest families in India," he said

India, US negotiating agreement to liberalise trade in goods: Minister

India and the US are negotiating a multi-sector bilateral trade agreement and as a part of the negotiations, both sides are discussing liberalisation of trade in goods, including non-sensitive agricultural products, Parliament was informed on Tuesday. The government is engaged with all relevant stakeholders including agriculture, farming experts, to assess the interests and requirements of India's rural economy, farmers and agricultural sector, Minister of State for Commerce and Industry Jitin Prasada said in a written reply to the Lok Sabha. "India and the USA are negotiating a multi-sector Bilateral Trade Agreement (BTA). As a part of negotiations, among other things, both sides are engaged in discussions on liberalization of trade in goods, including non-sensitive agricultural products, with the aim to expand trade and deepen the India-US trade relationship," he said. He added that the government is committed to taking all necessary steps to secure and advance the country's ...

Centre removes cotton import duty till Sept 30 to aid textile sector

The Centre has waived the 11 per cent duty on cotton imports till September 30, providing relief to the textile industry facing higher US tariffs and intense global competition

Apple rings up record run in India's phone exports amid US tariff threat

Apple Inc has led the charge despite concerns that it might slow its expansion in India. Its iPhone exports rose 63 per cent to $7.5 billion in April-July this year, compared with $4.6 bn a year ago

Next round of India-Asean trade pact review talks in October in Jakarta

The next round of review talks for the India-Asean free trade agreement in goods will be held in October this year in Jakarta, an official statement said on Friday. The tenth round of the negotiations concluded here this month (August 10-14). The Commerce Ministry said the Joint Committee focused on advancing the ongoing review of AITIGA (Asean India trade in goods agreement) to enhance its effectiveness, accessibility, and trade facilitation capabilities. ASEAN remains a key trade partner for India, accounting for around 11 per cent of India's global trade. The bilateral trade reached USD 123 billion in 2024-25, reflecting the strong economic ties between the two sides and creating opportunities for enhanced cooperation in the years ahead, it said. "The next AITIGA Joint Committee meeting is scheduled for 6-7 October 2025 at the ASEAN Secretariat in Jakarta, Indonesia, and will be hosted by Malaysia," it added. In a separate statement, the ministry said the fourth meeting of the

Govt imposes anti-dumping duty on certain steel imports from Vietnam

This comes a year after the ministry initiated a probe on some steel imports from the Southeast Asian country to analyse threats and consequential injury to India's steel sector

Kolkata port signs ₹343.58 crore deal for Haldia berth mechanisation

The Syama Prasad Mookerjee Port, Kolkata (SMPK) on Thursday awarded a Rs 343.58 crore public-private partnership (PPP) project to Ganges Bulk Terminal Pvt. Ltd. (GBTPL) for the mechanisation of berth No. 5 at Haldia Dock Complex, aiming to improve cargo handling efficiency, officials said. The project, to be implemented on a Design, Build, Finance, Operate and Transfer (DBFOT) basis, will equip the berth to handle 5 million metric tonnes of dry bulk cargo annually, they added. It is targeted for completion by December 2027, SMPK said in a statement. GBTPL will invest Rs 343.58 crore, while the government will provide Rs 22.30 crore through internal and extra budgetary resources, the riverine port said. SMPK chairman Rathendra Raman said it will improve operational capabilities, and strengthen eastern India's role in maritime trade. According to port authorities, the mechanisation will reduce vessel turnaround time, increase throughput, and deliver long-term economic benefits for

Exports rise 7.29% to $37.24 bn in July; trade deficit at $27.35 bn

India's exports rose by 7.29 per cent to USD 37.24 billion in July, while trade deficit stood at USD 27.35 billion in the month, official data released on Thursday showed. Exports were at USD 34.71 billion in July last year. Imports also increased by 8.6 per cent year-on-year to USD 64.59 billion during the month, the data showed. During April-July 2025-26, exports increased by 3.07 per cent to USD 149.2 billion, while imports rose 5.36 per cent to USD 244.01 billion.

Gem, jewellery exports rise 15.98% to $2.17 billion in July: GJEPC

Gem and jewellery exports witnessed 15.98 per cent year-on-year growth to USD 2,178.24 million (Rs 18,756.28 crore) in July amid global challenges, the Gem and Jewellery Export Promotion Council (GJEPC) said on Wednesday. Overall gem and jewellery exports stood at USD 1,878.09 million (Rs 15,700 crore) in the corresponding month of 2024, according to data shared by GJEPC. "The July exports are good and an encouraging sign for our industry. It mainly got a boost from successful substantial order bookings during the India International Jewellery Show (IIJS) Premiere and a strong bounce back of the Hong Kong market. This performance is heartening, especially as it comes amid global challenges, such as the ongoing impact of the US tariffs," GJEPC Chairman Kirit Bhansali said in a statement. In the recently concluded IIJS Premiere 2025, an estimated Rs 70,000-90,000 crore order bookings have been generated, which boosted the confidence of the industry ahead of the festive season, said th

China to continue anti-dumping tariff on Indian fibre optic products

China first imposed the tariffs in 2014 and had extended them in August 2020

Mahindra plans to export EVs to UK with trade agreement in place

Mahindra & Mahindra plans to export its electric vehicles to the UK, leveraging improved trade opportunities following the finalisation of the India-UK free trade agreement, according to Group CEO and Managing Director Anish Shah. The Mumbai-based auto major is a leading player in the electric vehicle segment in the domestic market and expects EVs to comprise 30 per cent of its overall sales by 2030. In 2022, the company inaugurated Mahindra Advanced Design Europe (M.A.D.E) at Banbury, Oxfordshire, the UK. The facility serves as the conceptual hotbed for the company's portfolio of electric products. In an interaction with PTI Videos, Shah noted that India has the potential to emerge as the automobile manufacturing hub of the world. "We are looking forward to exporting our electric vehicles to the UK and to take a bigger share of the UK market and competing in the UK on the back of this FTA," Shah stated when asked to comment about the benefits for the Indian industry and the ...

Tariff turbulence: Tanned hides, tug toys, trade sacks on Trump tightrope

The second in a series focuses on Kanpur's leather hub, pet goods makers, and FIBC exporters walking a fine line under the weight of 50% US duties

US tariff shock puts Indian MSMEs at risk, industry seeks govt support

MSMEs, which drive 45% of India's exports, warn of a $30 bn blow as US imposes steep tariffs; industry calls for urgent support and export market diversification

Trump signals no more trade talks, Piyush Goyal says parleys still on

Commerce minister confident India's FY26 exports will exceed last year's tally