Shreya Nandi

These sectors include electronics and electrical equipment, footwear, textiles and garments, furniture and home decor, automotive components, toys, and chemicals

The steel ministry believes that a higher import duty, if implemented, could mitigate the adverse effects of a rise in cheaper imports of finished steel, particularly from China

The comment by exporters' body comes at a time when Trump threatens to impose high tariffs on Chinese goods

During the meeting, Goyal also emphasised the 'need to address long-pending issues as a confidence-building measure'

The meet comes against the backdrop of merchandise exports hitting a 25-month low in November amid continued geopolitical tensions as well as a decline in petroleum prices

Speaking at an industry event organised by the US-India Business Council (USIBC), Garcetti called India the "highest tariff" major economy in the world

Trump's remarks on India, made just weeks after he pledged to increase tariffs on imports from Mexico, Canada, and China

Trade data released on Monday showed that India's trade deficit reached a fresh high of $37.8 billion in November, driven by a surge in merchandise imports

Under the Double Tax Avoidance Agreement (DTAA), Switzerland had reduced the withholding tax on Indian entities operating in that country to 5 per cent from 10 per cent earlier

Exports contract 4.85% to $32.1 billion; imports increase by 27% to $69.95 bn

The two countries entered into FTA negotiations 14 years ago, but talks stalled after 10 rounds of discussions, and no formal round of negotiations has been held since February 2015

India-EU FTA was launched in June 2022. Nine rounds of negotiations have already taken place

He called for mutual recognition agreements (MRAs) to facilitate trade

Says it wants to remain protected from foreign competition

Govt to monitor local manufacturing under PLI before imposing any import curbs

India also flagged the difference in the amount of subsidy provided by developing nations such as India, as compared to developed nations

Gross foreign direct investment, which includes equity capital of unincorporated bodies, reinvest earnings and other capital, saw 29 per cent rise at $42.3 billion during April-September

Safeguard duty is a temporary tariff barrier imposed by a country to protect its domestic industry from surge in imports

New Delhi and Canberra discussed several critical areas of the proposed agreement, including trade in goods, services, mobility, agri-tech cooperation, among others

During the first six months of the current financial year, India exported goods worth $2.87 billion to South Korea, while imports stood at $10.62 billion