Tariffs

India has also been working to finalise free trade agreements (FTAs) with countries like the United Kingdom (UK) and trade blocs like the European Union, facing immense pressure to reduce tariffs

India has reduced its tariffs significantly over the years, bringing them down to the world average level, yet the domestic industries continue to suggest increasing the duties, a senior government official said on Wednesday. Secretary in the Department for Promotion of Industry and Internal Trade Amardeep Singh Bhatia said that it needs to be examined why such requests come. "On the export market side and integration with the (global) supply chains, there is also a lot of work which has been done in terms of reduction in tariff, the weighted tariff has come down substantially and it is almost at the world average level. But of course, there are pressures that it should be increased by the domestic industry, which we need to look at why these requests keep coming up. Why are we not competitive enough," he said. India has also free trade agreements with different countries to push exports. The Secretary was speaking at CII's Global Policy Forum 2024. Cut in customs duties on raw ..

Adani Group's solar power contract, which is at the centre of bribery allegations, has tariffs that are lower than competition and can find new buyers in case the pact is cancelled, according to analysts. US authorities have charged Adani Group Founder-Chairman Gautam Adani and others for being part of a scheme to offer USD 265 million bribe to Indian officials to gain a contract to supply 8 gigawatt of electricity generated from solar energy by Adani Green Energy Ltd (AGEL). The group has denied all charges. "If Adani promoters are found guilty, we believe the size of potential penalty is manageable given it is up to three times the value of the bribe," Nomura said in a report. The brokerage said there are about 1.8 GW solar projects commissioned in Gujarat from February-March 2024, with tariff of Rs 2.42 per unit under the 25-year power purchase agreements (PPAs). These operational projects are running under 5 special purpose vehicles, namely Adani Green Energy Twenty Four A Ltd

Senior Congress leader Ramesh Chennithala on Saturday accused the Kerala government of hiking the electricity tariff "to benefit ports-to-energy conglomerate Adani" by bringing it into the power purchase system in the state. Chennithala alleged that the long term power purchase agreement signed during the UDF administration in 2016 to buy electricity at rates below Rs 5 per unit was cancelled during the LDF rule to facilitate the entry of Adani into this system. The Kerala government had on Friday announced a 16 paise per unit increase in electricity tariffs for the 2024-25 financial year, effective from December 5. An additional hike of 12 paise per unit is set to follow in the 2025-26 financial year. The Congress leader said this move of the government makes it clear that it was hand-in-glove with the power producing companies, especially Adani. "Adani is the biggest beneficiary of this move. This decision of the government is aimed at bringing Adani into the power purchasing sys

Trump has floated blanket tariffs of 10 per cent 20 per cent on virtually all imports

Canadian Prime Minister Justin Trudeau said Saturday he had an excellent conversation with Donald Trump at his Mar-a-Lago club after the president-elect's threat to impose significant tariffs on two of America's leading trade partners raised alarms in Ottawa and Mexico City. It was unclear, as Trudeau headed back to Canada from Florida, whether the conversation had alleviated Trump's concerns. A person familiar with the details of the leaders' hastily arranged meeting Friday night said it was a positive wide-ranging dinner that lasted three hours. The official, who was not authorised to discuss the matter publicly and spoke to The Associated Press on condition of anonymity, said topics included trade, border security, fentanyl, defence, Ukraine, NATO, China, the Mideast and pipelines, as well as the the Group of Seven (G7) meeting in Canada next year. The Republican president-elect has threatened to impose tariffs on products from Canada and Mexico if the countries don't stop what h

The United States accounts for 61 per cent and 56 per cent of crude exports from Canada and Mexico

Communication between SECI and some states suggest tariff was lowered by Adani and Azure after it became tough to find buyers at a price considered expensive

At 11:52 AM, 12 of the 15 stocks in the Nifty Metal Index were trading in the green, while three remained in the red

The Commerce Department imposed a dumping margin of 29 per cent on Nippon Steel for selling hot-rolled steel in the US

India may seek flexibility in the existing tariff concessions in sectors which are impacted by significant increase in imports, under the free trade agreement (FTA) review with the 10-nation Association of Southeast Asian Nations (ASEAN), an official said. The ASEAN official team is visiting India for the next round of review negotiations, which will start from November 19-22 here. The ASEAN-India Trade in Goods Agreement (AITIGA) was signed in 2009. "We may seek some flexibility in the tariff (or customs duty) concessions that have been given in the agreement. Some of the concessions can be taken back and can be given somewhere else because in some sectors we feel our domestic industry is badly getting hurt. We have domestic injuries in some sectors. We would like to do that in a minimum possible way," the official said. The domestic steel industry has time and again flagged concerns over a significant increase in imports from countries like China and misuse of FTA with ASEAN. In

Trump's proposed 10 per cent to 20 per cent tariff on all foreign-made goods - 60 per cent or higher on products from China - will be more than a bucketful of sand in the wheels of commerce

The Supreme Court on Friday held the Airports Economic Regulatory Authority (AERA), which regulates the aeronautical charges, can file an appeal against the orders of Telecommunications Dispute Settlement and Appellate Tribunal (TDSAT). A bench comprising Chief Justice of India D Y Chandrachud and Justice J B Pardiwala and Manoj Misra said the appeals filed by AERA against a TDSAT order, which held that the authority cannot impose tariffs on ground and cargo handling services, were maintainable. AERA, the top court said, has a statutory duty to regulate tariff upon a consideration of multiple factors to ensure that airports were run in an economically viable manner without compromising on the interests of the public. "When AERA determines the tariff for aeronautical services in terms of Section 13(1)(a) of the AERA Act, it is acting as a regulator and an interested party. It is interested not in a personal capacity. Its interest lies in ensuring that the concerns of public interest.

While the US imposes minimal tariffs on imports, countries like China and Brazil place hefty charges on American goods, but India surpasses all, says Donald Trump

The Commission last revised the tariff rates in September, imposing levels from 7.8 per cent for Tesla to 35.3 per cent for SAIC

Tariffs up to 100% on key items from China take effect today

Reconciling the gap won't be easy in an era of already surging government debt

China, which claims democratically governed Taiwan as its own territory, has ramped up its pressure on Taipei over the past five years

Italy is aiming for a climate of positive cooperation, and real reciprocity to avoid dumping and obstacles from Beijing

More than half of rapeseed, also known as canola, exported by Canada makes its way to China