Page 2 - Trade

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

Govt likely to flag deportation by US military aircraft during Modi's visit

Discussions between the two sides will also cover the entire gamut of issues from trade, energy security to increased security cooperation, sources said

India open to revive US trade deal talks during PM Modi's upcoming visit

Inter-departmental meetings being held to identify key trade-related proposals

Pakistani exports become uncompetitive after govt doubles gas prices

Pakistani exports have become uncompetitive after the government doubled gas prices for in-house power generation by factories, endangering the target of a three-year goal of increasing exports to USD 60 billion, according to a business body. The Pakistan Business Council (PBC) informed Prime Minister Shehbaz Sharif on Tuesday about the development through a letter, the Export Tribune reported. In a paradoxical situation, the miseries of industries are apparently an achievement for the government that has met an International Monetary Fund (IMF) loan condition to either make gas unaffordable for in-house power generation or completely cut it off, the paper reported. The government has chosen the first option, which became the reason for the PBC a representative body of manufacturers to write a letter to the prime minister, reporter the paper. "Your USD 60 billion export target by 2027 is unlikely to be achieved. The competitiveness of manufacturing for the domestic market, which

Centre vows to avoid protectionist signals on trade: Finmin official

India has been trying to placate the Trump administration after it accused the South Asian nation of maintaining very high tariffs that hurt prospects for American firms

Track and Trace Mechanism to aid in curbing illicit trade: Tobacco industry

The introduction of a "track and trace mechanism" for certain goods announced in the Union Budget 2025-26 will assist in controlling the menace of illegal trade, especially in cigarettes, and help the industry grow, tobacco industry said on Saturday while welcoming the proposed changes. Finance Minister Nirmala Sitharaman in her Union Budget on Saturday proposed to amend the Central Goods and Services Tax Act, 2017, enabling a mechanism for 'Track and Trace', aimed at curbing tax evasion in high-risk commodities. "The proposed amendments in The Central Goods and Services Tax Act, 2017, enabling a mechanism for Track and Trace, will help in controlling the illicit cigarette trade in the country, thereby helping the enforcement agencies to take corrective action against the perpetrators of this crime," Tobacco Institute of India (TII) said in a statement. This will also help the 'legal industry' to gain from the illicit market, said TII which represents farmers, manufacturers, exporte

Budget 2025: Industry lauds move to cut duty on platinum jewellery parts

Gems and jewellery industry on Saturday welcomed the government's move to reduce the basic customs duty on platinum findings and slashing of jewellery duty in the Union Budget 2025-26. Gem and Jewellery Export Promotion Council (GJEPC) chairman Vipul Shah said the council welcomes the proposal of creating new tariff items in Chapter 71 so as to distinguish precious metals containing 99.9 per cent or more by weight of silver, containing 99.5 per cent or more by weight of gold, containing 99 per cent or more by weight of platinum under headings 7106, 7108 and 7110, respectively. This move aligns with the representation made by GJEPC for addressing the issue of classification of alloys of platinum (predominantly containing gold), which was invariably leading to claim of unwarranted customs duty exemptions for the import of platinum under India-UAE CEPA (Comprehensive Economic Partnership Agreement), he said. "The sector comprises 85-90 per cent of MSMEs and the revision in classificati

Export Promotion Mission to help promote shipments, says Piyush Goyal

The commerce, MSME and finance ministries will work together to identify sectors which will really need support measures under the export promotion mission to boost the country's outbound shipments, Union Minister Piyush Goyal said on Saturday. Commerce and Industry Minister Piyush Goyal on Saturday said issues which could be part of the mission include ways to extend credit to the exporting community at affordable rates. The government on Saturday announced setting up of an Export Promotion Mission with an outlay of Rs 2,250 crore to promote the country's outbound shipments. The mission will driven jointly by the Ministries of Commerce, MSME, and Finance. It will facilitate easy access to export credit, cross-border factoring support, and support to MSMEs to tackle non-tariff measures in overseas markets. "The Finance Minister has given flexibility for export promotion. All three ministries will work together and design that which all sectors really need support," Goyal told PTI.

India's geoeconomic playbook for Trump 2.0: Navigating trade shifts in 2025

With trade wars and financial realignments looming, India's success in this evolving landscape will depend on its ability to balance collaboration with autonomy

Govt allows export of 1 mn tonnes sugar in ongoing 2024-25 season

The government on Monday allowed the export of 1 million tonnes of sugar in the ongoing 2024-25 season ending September. "...the Government of India has approved a 10 lakh tonne sugar export quota for 2024-25," Food Minister Pralhad Joshi said in a post on X. This ensures price stability, supports five crore farmer families and five lakh workers, and strengthens the sugar sector, he added. The Food Ministry has issued an order in this regard, allocating export quota sugar mill-wise. During the last 2023-24 season, exports were entirely restricted due to domestic supply concerns.

India targets $250 bn of engineering exports by 2030, says Commerce Secy

The government's target of USD 1 trillion export includes USD 250 billion from the engineering sector, Commerce Secretary Sunil Barthwal said here on Sunday. The government has set a target to achieve USD 1 trillion export from India by 2030. "India is known for leather, textile and traditional sectors but engineering sector in India which includes automobiles, equipment etc is almost close to 25 per cent of the total exports. Tomorrow when India is looking at USD 1 trillion of exports, USD 250 billion of exports we are expecting from the engineering industry," Barthwal said. He was addressing a conference of construction equipment manufacturers. "This is the ambition that we have taken which is based on ground reality. It is based on the fact that how the middle class is growing, the government focus on infrastructure development within the country, focus on development of ports, airports, railway modernization, broadening of roads," Barthwal said. Secretary said that Prime Minis

Mahakumbh 2025 begins: Prayagraj set to see Rs 2 trillion in trade

Mahakumbh 2025 begins: Prayagraj is set to become the largest hub of religious economy in the world as 400 million devotees converge for the biggest religious event

Global air finance summit in Dublin to address jet shortages, trade risks

Ireland is home to the worldwide aircraft leasing industry, which controls about half the world's airline fleet

Nepal to consider request to import specific dairy products from India

India has flagged concerns over the problems faced by its milk exporters in Nepal, with the neighbouring country agreeing to explore the possibility of facilitating imports of specific products like whey and cheese, an official statement said on Sunday. The matter came up for discussions during the meeting of the India-Nepal Inter-Governmental Committee (IGC) on Trade, Transit, and Cooperation to Combat Unauthorised Trade, which was held in Kathmandu from January 10-11. "The Indian side highlighted the problems faced in milk exports to Nepal. The Nepali side agreed to consider the request of the Indian side positively for milk products not adequately produced in Nepal such as whey and cheese," the commerce ministry said. The two sides have also discussed a review of the Treaty of Transit and the Treaty of Trade and proposed amendments of the existing agreements, harmonisation of standards and the development of trade infrastructure, including the electrification of the Raxaul-Birgun

Industry seeks extension of RoDTEP scheme to SEZs, EOUs till Sep-end

Currently, the RoDTEP scheme for exports from the domestic tariff area (DTA) or the domestic market is in place until September 30

Dabur expects muted revenue growth in Q3; Marico upbeat on top line growth

The maker of Hajmola candy and Real fruit juice said rural consumption continued to be resilient and grow faster than urban in the third quarter

Looking at resuming crude oil supply to India, expanding trade basket: Iran

Iran is looking at ways to resume supplying crude oil to India and is keen on expanding the overall trade basket including in the petro-chemical sector through the strategically-located Chabahar port, a senior Iranian official said on Thursday. Tehran is also keen to expand counter-terror cooperation with India as the possibility of rise in the terrorist activities looming large over West Asia in view of the fragile situation in the region, especially in Syria, he said. The senior Iranian official told a group of journalists that the incoming Donald Trump administration is unlikely to be similar to that of his first term towards Tehran as the global geopolitics have undergone significant changes with China increasing its strategic heft. In his first term as the US president, Trump tightened the noose of sanctions on Iran, eyeing over 80 per cent of the country's economy and even ended Washington's participation in the 2015 nuclear deal with Tehran. On the overall situation in West

Wait for NAV and price on exchange to converge before investing

Indian fund houses have cumulatively hit the investment ceiling set by the Reserve Bank of India (RBI): $7 billion for overseas mutual fund (MF) investments

Modi's Kuwait trip first by an Indian PM in 43 yrs; focus on trade, defence

PM Modi will embark on a historic Kuwait visit, marking the first by an Indian PM in 43 years, aiming to boost ties in trade, energy, investment, and cultural exchanges

India doing sector-wise analysis amid Trump tariff threat: Report

Government ministries and departments are examining different scenarios after US President-elect Donald Trump's open threat to impose reciprocal tariffs on Indian goods