)
The dollar index was trading a tad lower at 99.70, against the previous close of 99.75
After Trump announced sweeping tariffs on April 2, the Nifty Auto index had dropped over 10 per cent.
India is also looking at non-tariff barriers as well as tariff barriers in the agreement
"If the Indian industry can really buck up and rise to the occasion, we can be the real replacement for China," said Jindal while speaking at the centenary celebrations of Indian Chambers of Commerce
Analysts believe tariffs are part of the story but not the whole of it
Exports from Tata Electronics, another Apple supplier, stood at $612 million in March, around 63 per cent higher than the previous month
If any unusual surge is reported, the commerce ministry can take action such as imposing anti-dumping or safeguard duties
India is much better placed to deal with disruptions emanating from Trump tariffs as there is a possibility of signing an FTA with the US for which discussions are happening at fast pace, ITC Chairman Sanjiv Puri said. US President Donald Trump imposed reciprocal tariffs on many countries, including India, which he later postponed by three months with the exception of China on whom a 125 per cent tariff has been slapped. However, a 10 per cent additional duty on exports to the US will continue. The reciprocal tariffs will now kick in from July 9. When asked about the impact of such tariffs on the domestic industry, Puri said it will be difficult to say how it will evolve, but India will be much better placed in this. "It's difficult to say how it will evolve, but my own sense is that at the end of it, I think India is going to be much better placed, because we do see the possibility of several FTAs being inked, which industry has been looking forward to for some time, hopefully ...
The domestic currency strengthened 28 paise to end at 85.77 against the greenback after closing at 86.05 on Tuesday
India and the US have finalised terms for the first phase of their trade deal, aiming to boost bilateral trade to $500 billion by 2030 and deepen strategic economic ties
Why are markets rising today: Tata Motors, L&T, IndusInd Bank, M&M, Adani Ports, HDFC Bank, Axis Bank, ICICI Bank, Bharti Airtel, Bajaj Finance, Reliance Industries, and SBI were top gainers today
In retaliation to US' 145% tariff, China has slapped a 125% per cent levy on US imports - effectively doubling the price of Boeing jets
The gap between exports and imports stood at $21.54 billion last month, the trade data showed Tuesday
China and the US have spent the past two weeks locked in an escalating trade war, with both sides piling on new tariffs and raising barriers to trade
Businesses that had seen demand dry up just weeks ago are now overwhelmed with urgent shipment orders from US buyers
The NSE Nifty 50 Index climbed as much as 2.4 per cent in Mumbai on Tuesday, surpassing its closing level on April 2
In the US, foreign-domiciled funds withdrew $10 billion from effectively reversing inflows seen in April, as per Elara Capital
US President Donald Trump's decision to slap a 25 per cent levy on cars built overseas has upended the global automotive supply chain
Janet Yellen slams Trump tariffs as 'unclear', warns of trade decoupling, but sees no Fed intervention needed yet despite market turmoil
The domestic currency strengthened 17 paise to open at 85.87 against the greenback after closing at 86.05 on Friday