US-India Strategic Partnership Forum President Mukesh Aghi highlights exports as a key job creator for India’s $5 trillion economy goal, stressing the need for economic engagements with the US. The bilateral trade target is set at $500 billion, with current trade figures revealing a close competition with China.
Export to be major job creator as India transitions to USD 5 trillion economy: USISPF
Imported inflation in India’s CPI has gradually increased since April 2024, contributing 0.5 percentage points by August 2024. With global prices rising, imported inflation is expected to further impact core inflation. The RBI is managing the rupee’s value to counter this. Strong FPI inflows and currency management by the RBI may control imported inflation.
Imported inflation is gradually rising from a negative base, contributing 0.5 percentage points to the Consumer Price Index inflation since April 2024. Global price increases and customs duty changes are influencing this trend, but strong FPI inflows and RBI intervention are helping stabilize the rupee.
Govt restricts pocket lighter part imports
1 year ago
The Indian government restricted the import of parts of gas-fuelled pocket lighters, effective immediately. Previously, these imports were unrestricted. Key source countries include China, Spain, Turkey, and the UAE. Lighter parts imports reached $3.8 million this fiscal year. The new measure aims to curtail sub-standard imports and bolster domestic production.
The government has restricted the import of parts for pocket lighters to boost domestic manufacturing and reduce dependency on Chinese imports. This follows previous bans on low-cost and specific types of lighters, along with quality control measures. The import value of lighter parts from China was $3.8 million during April-July this fiscal.
FEBI to push FTA negotiations between India and Europe, says German Ambassador Philipp Ackermann
1 year ago
FEBI launched in Delhi to push FTA negotiations between India and Europe, fostering collaboration among over 100 European companies. German Ambassador Ackermann acknowledges FEBI’s significance in strengthening EU-Indo business ties and expresses condolences on Ratan Tata’s death, lauding his legacy.
Government officials and industry stakeholders addressed liquidity challenges, taxation issues for Indian seafarers, and the need to shift commodity import contracts from CIF to FOB to boost the shipping sector. The discussions aim to increase India’s share in international trade amid rising shipping costs and export slowdowns.
Indian pharma, electronics industries poised to gain from US investment restrictions in China
1 year ago
India may benefit from the US restricting investments in China, leading global companies to reduce exposure there. This shift could boost India’s pharmaceutical and consumer electronics sectors, as investments redirect to receptive regions with growing manufacturing competitiveness like ASEAN and India.
Extraneous elements slowing down India-EU trade pact talks, CBAM & EUDR unfair: Piyush Goyal
1 year ago
Indian Commerce and Industry Minister Piyush Goyal criticized the EU’s deforestation and CBAM regulations as unfair to Indian industries. He emphasized the need for mutual cooperation and highlighted India’s interest in a fast-tracked free trade agreement with the EU, focusing solely on trade issues. Goyal also expressed concerns over the EU’s safeguard measures on steel […]
Former US President Donald Trump, during a speech in Detroit, emphasized his commitment to imposing reciprocal taxes if re-elected. He cited India’s high tariffs on imports while praising Prime Minister Modi’s leadership and the US-India relationship. Trump also referenced previous discussions about Harley-Davidson’s challenges with India’s tariffs.