Page 8 - Us India Relations

Congress warns US outsourcing tax bill HIRE could hit Indian economy

The Congress on Tuesday said a bill introduced in the US Senate proposing a 25 per cent tax on any American person making an outsourcing payment will "light a fire in the Indian economy" if it becomes a reality. The opposition party said the bill reflects a growing mindset in the US that while blue-collar jobs were "lost" to China, white-collar jobs should not be "lost to India." Congress general secretary in-charge communications Jairam Ramesh made the remarks, referring to the Halting International Relocation of Employment Act, or HIRE Act Bill, introduced on October 6 by Senator Bernie Moreno of Ohio. The bill has been referred to the Senate Committee on Finance, he said on X. The bill proposes a 25 per cent tax on any US person making an outsourcing payment, defined as "any money paid by a US company or taxpayer to a foreign person whose work benefits consumers in the United States," he said. The bill has a direct and deep impact on India's IT services, BPO, consulting and GCC

Tariff impact: Gems & jewellery shipments to US hardest hit in September

The US accounts for 37 per cent of India's total exports of precious stones and 28 per cent shipments of gold jewellery

After the Chabahar exemption, India must push for a trade deal with the US

The pause of the export restrictions on rare earths and magnets will be a particular relief to many places, including the European Union and India, which had been caught in the crossfire

India's exports to US decline 37.5% during May-September 2025: GTRI

India's exports to the US have dipped 37.5 per cent during May-September 2025 from USD 8.8 billion in May to USD 5.5 billion in September, think tank GTRI said on Sunday. It said that exports of pharmaceuticals, smartphones, metals and auto have declined during the period. Pharmaceutical product exports dipped 15.7 per cent from USD 745.6 million in May to USD 628.3 million in September. Industrial metals and auto parts facing uniform tariffs for all countries saw a modest 16.7 per cent drop, from USD 0.6 billion to USD 0.5 billion. Aluminium exports fell 37 per cent , copper 25 per cent, auto parts 12 per cent, and iron-steel 8 per cent, GTRI Founder Ajay Srivastava said, adding that with similar duties on global suppliers, the dip likely reflects softer U.S. industrial activity rather than lost competitiveness. He added that labour-intensive sectors such as textiles, gems and jewellery, chemicals, agri-foods, and machinery endured a 33 per cent decline, from USD 4.8 billion to US

India and US sign 10-year defence agreement amid tariff turmoil

Defence Minister Rajnath Singh signed the framework for bilateral defence cooperation over the next decade with US Secretary of War Pete Hegseth

'A new chapter begins': India, US sign 10-year defence framework pact

On the sidelines of the Asean Defence Ministers' Meeting, Rajnath Singh and Pete Hegseth held talks to boost defence collaboration and strengthen strategic partnership between India and the US

Markets flinch on Powell's hint of rate restraint, trade truce doubts

Fed's cautious tone and renewed trade concerns triggered profit booking, pulling Sensex and Nifty down even as indices stayed near record highs

Donald Trump praises PM Modi, says US doing a trade deal with India

Trump repeats claim of resolving India-Pakistan conflict

Trump calls PM Modi a 'nicest looking guy, tough as hell' amid trade talks

Donald Trump said the US is doing a trade deal with India and that the two countries have a 'great relationship'

Washington's push to put US corn in Indian cars to face tough road ahead

New Delhi would seek a reciprocal US tariff of 20 per cent or less and a swift deal, fearing Indian exporters could fall further behind Southeast Asian rivals if negotiations drag on

India boosts US crude oil imports to 540,000 bpd, highest since 2022

India's record US crude imports come amid efforts to diversify away from Russian oil and manage trade frictions with Washington

Growth outlook strong, trade diversifies amid US tariff tensions: Centre

India's trade performance for September 2025 showed early signs of diversification in export destinations, even as trade deal negotiations with the United States continue

India-US ties under strain: Jaishankar, Rubio hold trade talks in Malaysia

S Jaishankar and Marco Rubio met as India and the US continue talks on a trade pact; five rounds of negotiations are done, and officials say the agreement is now close to being finalised

EAM Jaishankar meets US Secy of State Rubio in Kuala Lumpur to discuss ties

External Affairs Minister S Jaishankar on Monday met US Secretary of State Marco Rubio here and discussed bilateral ties as well as regional and global issues, amid ongoing trade negotiations between the two countries. The meeting took place on the sidelines of the Association of Southeast Asian Nations (ASEAN) summit. "Glad to meet @SecRubio this morning in Kuala Lumpur. Appreciated the discussion on our bilateral ties as well as regional and global issues," Jaishankar said in an X post. The meeting came in the backdrop of the proposed bilateral trade deal between India and the US, which, according to an official, is "very near" to concluding. Five rounds of talks have been completed so far for the first phase of the bilateral trade agreement between India and the US. On Sunday, Jaishankar held separate talks with Malaysian Prime Minister Anwar Ibrahim, Singapore's Foreign Minister Vivian Balakrishnan and his Thai counterpart Sihasak Phuangketkeow. The 11-nation ASEAN is conside

US-Pakistan relations don't come at expense of India, says Marco Rubio

US Secretary of State Marco Rubio stresses Washington's partnership with India remains strong ahead of talks with S Jaishankar at the East Asia Summit in Kuala Lumpur

US ties with Pakistan not at India's expense, says US Secy of State Rubio

US Secretary of State Marco Rubio said Washington's bid to rebuild its partnership with Pakistan under Trump does not diminish its 'deep, historic' friendship with India

India and US 'very close' to trade deal; work on legal text begins

Most issues have been resolved and talks are progressing smoothly, with the long-pending India-US trade deal expected to move to the approval stage soon

Stock Market Close: Sensex slips 345 pts; Nifty at 25,795; FMCG, bank stocks fall

Sensex Today | Stock Market Close Highlights, Oct 24: Among the broader markets, the Nifty Midcap 100 was closed lower by 0.24 per cent, and the Nifty Smallcap 100 index was down 0.21 per cent

India won't rush trade deals, will reject terms curbing its choices: Goyal

Piyush Goyal made these remarks while speaking at the Berlin Global Dialogue, adding that New Delhi would take a measured approach

India-US trade deal: Talks are 'progressing' well, says Piyush Goyal

Last week, a team of officials from the Department of Commerce, including Commerce Secretary Rajesh Agrawal, was in Washington, to reach an early conclusion of the proposed trade agreement