Tariff

Govt's electronics export goal faces US President Trump's tariff wall

The US is the largest market for India's electronics exports, accounting for 33 per cent of the total as of 2023-24 (FY24)

US tariff hike may hit India's GDP growth by up to 0.6 pp: Goldman Sachs

This forecast considers various scenarios, including the US government's planned reciprocal tariffs in early April and the price elasticity of US demand for Indian exports

Indian companies take a cautious stance on US reciprocal tariff moves

India exported about $6.79 bn worth of auto parts to US in 2023-24. Overall auto component exports stood at $21.2 bn, while imports from US were $1.63 bn of total $20.9 bn in auto component imports

Govt imposes mandatory quality orders for stainless steel pipes, tubes

The government has imposed mandatory quality orders for stainless steel seamless pipes, and tubes to curb the import of sub-standard goods, boost domestic manufacturing and ensure consumer safety. A notification 'Stainless Steel Pipes and Tubes (Quality Control) Order, 2025' was issued in this regard by the Department for Promotion of Industry and Internal Trade (DPIIT) on February 10. It will come into effect from August 1 this year. Under the order, the item cannot be produced, sold, traded, imported and stocked unless it bears the Bureau of Indian Standards (BIS) mark. According to the notification, this order would not apply for 500 kilograms of these goods imported for the purpose of research and development by manufacturers of stainless steel pipes and tubes per year with the condition that such imported goods and articles shall not be sold commercially and can be disposed of as scrap. Violation of the provision of the BIS Act can attract imprisonment of up to two years or a

Want free trade? May I introduce you to the tariff-driven reality

Free trade is a myth-not because it doesn't work, but because it doesn't exist. This is why democratic governments should come together and create a new trade regime to enforce balance

Govt trying to evaluate impact of US duties on certain countries: Report

India is likely to analyse with the domestic industry the impact of tariffs announced by the US on countries like China to assess the positive or negative implications, if any, sources said on Thursday. Though the duties on China are expected to help increase exports from India to the US due to the duty arbitrage, there could be a possibility of dumping of goods from the neighbouring country as it has excess capacity in almost every sector. India has imposed anti-dumping duties on several goods, including chemicals imported from China, and a number of anti-dumping investigations are going on. "We are trying to analyse the announcements made by the US on increasing tariffs. We will take the decision in due course. We are also asking our industry how these tariffs are going to affect them positively or negatively. We are looking at the exact items on which tariffs will be imposed in China," they said. They added that India was the fourth-largest gainer when the US imposed higher duti

Budget tweaks Customs duties to boost local manufacturing amid US tariffs

Average tariff levels: India's average import tariff stands at 17 per cent, while the trade-weighted rate is lower at 12 per cent, according to the World Trade Organization's 2024 report

Tariff war: Trump pauses tariffs on Mexico and Canada: Here’s why

India's avg customs duty cut to 10.6%, now moving towards Asean level: CBIC

India has significantly reduced its average customs duty rate to 10.66 per cent from 11.65 per cent and is now moving towards the same levels as prevalent in the Southeast Asian countries, a senior government official said on Monday. CBIC (Central Board of Indirect Taxes & Customs) Chairman Sanjay Kumar Agarwal said the rate rationalisation exercise was carried out with the objective of making the tariff structure simple, ensuring competitiveness of Indian industry and simplifying the tax regime. "Now the average customs rate in India has come down from 11.65 per cent to 10.66 per cent and we are now moving towards the average rate in ASEAN countries," he said here at an interaction with industry representatives. The 10-nation bloc ASEAN (Association of Southeast Asian Nations) countries are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. The exercise was also important for dispelling the narrative of developed countries like the

Canada's answer to Trump's tariffs: Less US booze on store shelves

Canada has struck back at Trump's tariffs with a 25% levy on US goods, targeting US alcohol. Provinces like Ontario and British Columbia have banned US booze, escalating the trade war

Dollar takes a dive as President Trump team hints at delay to tariffs

Trump will issue a broad trade memo on Monday that stops short of imposing new tariffs on his first day in office

'If they tax us, we tax them': Trump threatens reciprocal tariffs on India

US President-elect Donald Trump vows reciprocal tariffs on India, criticising high taxes on US goods

Trump picks Wall St CEO Lutnick to run Commerce, oversee USTR, tariffs

Lutnick, the head of brokerage firm Cantor Fitzgerald, will also have additional direct responsibility for the US Trade Representative's office, Trump said in a statement

BS Decoded: How Trump’s tariff plans could impact India and the world | US Election

Trai completes mandatory examination of recent industry-wide tariff hikes

The telcos have submitted details of the hike within the stipulated seven days

Bharti Airtel announces 10-21% hike in mobile tariffs from July 3

Bharti Airtel on Friday announced between 10-21 per cent hike in mobile tariffs, a day after larger rival Reliance Jio announced an increase in rates. Airtel, in a release, said that the revision in mobile tariffs will be effective from July 3. "We have ensured that there is a very modest price increase (less than 70 paise per day) on entry-level plans, in order to eliminate any burden on budget challenged consumers," the Sunil Mittal-led telecom firm said announcing the revision in mobile tariffs. Bharti Airtel said it has maintained that the mobile Average Revenue Per User (ARPU) needs to be upwards of Rs 300, to enable a financially healthy business model for telcos in India. "We believe that this level of ARPU will enable the substantial investments required in network technology and spectrum and offer a modest return on capital," the telco said. Among the unlimited voice plans, Airtel has raised tariffs in the ballpark range of about 11 per cent, and accordingly rates are rev

New tariff walls

US tariffs will further increase trade friction

India's tariff removal on several US products benefiting farmers: USTR

In her testimony before the House Ways and Means Committee Hearing on the President's 2024 Trade Policy Agenda, Tai mentioned that India and the US resolved the final outstanding WTO dispute

Buoyed by tariff removal, US walnut industry aims to crack India's market

India's decision to remove retaliatory customs tariffs on some US products, including walnuts, has cheered up the California walnut industry, which is hopeful that the move will help it increase its exports to India and further firm up trade ties between the two strategic allies. Two days ahead of US President Joe Biden's visit to New Delhi to attend the G20 Summit on September 9-10, India dropped the retaliatory customs duties on about half a dozen US goods which were imposed in 2019 after America hiked its tariffs on certain steel and aluminium products coming from India. Welcoming India's decision, Pamela Graviet, Senior Director, Global Programmes, California Walnut Commission and Board, said it is a "positive step" that will improve bilateral trade relations. "Recently, the Indian government and the United States have been in discussions about mutually beneficial things, not just agriculture, but also across a wide variety of subjects. And, it was determined to remove a 20 per

To improve ARPU, telcos to hike tariffs more frequently in FY23: Report

Reliance Jio is most likely to lead the hikes as it is now focussing on profitability and aims to launch an IPO in next couple of years