India’s Finance Minister, Nirmala Sitharaman, hinted at the possibility of reducing import taxes, contingent upon the absence of harm to domestic industries. This comes in the wake of US President Donald Trump’s criticism of India’s high tariff rates. While acknowledging the need to protect Indian businesses, Sitharaman emphasized the government’s willingness to adjust tariffs to […]
India may cut import taxes if desi companies are not hurt, FM Sitharaman says
India and Russia are aiming to achieve $100 billion in bilateral trade by 2030, according to Indian External Affairs Minister S Jaishankar. While optimistic about reaching this target, Jaishankar highlighted the need to address the trade imbalance, which currently favors Russia due to India’s oil imports. He urged for swift action on non-tariff barriers and […]
Five WTO members have accused India of exceeding market support for wheat and rice, potentially distorting global trade. They claim India’s support for rice production exceeded 87% of its value in recent years. India defends its actions, stating its commitment to supporting its farmers and ensuring food security, invoking the WTO’s Peace Clause as justification […]
India’s External Affairs Minister S Jaishankar called for immediate action to address the significant trade deficit with Russia, which has reached USD 25.11 billion due to increased crude oil imports. He emphasized the need to remove trade barriers, promote national currency settlements, and explore collaborations in energy, connectivity, and human resources to achieve a more […]
India’s Commerce Minister Piyush Goyal set an ambitious goal of reaching $2 trillion in exports by 2030, emphasizing the need for collective efforts to overcome non-tariff barriers. Goyal urged the Indian Institute of Foreign Trade to contribute by studying these barriers and leveraging free trade agreements to benefit businesses and create jobs.
India’s forex reserves decreased by $2.6 billion to $682.1 billion for the week ending November 1, as the Reserve Bank of India likely intervened to support the weakening rupee. The rupee fell slightly against the dollar, closing at 84.07, after hitting a record low during the week. Outflows from Indian stocks and bonds contributed to […]
Moody’s predicts India and ASEAN nations will experience economic growth as trade shifts from China under a second Trump administration. The report anticipates increased US investment in these regions. However, the global supply of semiconductors could face disruptions due to potential geopolitical tensions. Trump’s policies are expected to impact fiscal deficits, trade, climate change, and […]
Former Indian Foreign Secretary expresses optimism about Donald Trump’s second term as US President. The article highlights the strengthening of India-US ties during Trump’s first term, citing advancements in defense cooperation, trade, and the Quad. The author believes that India is well-positioned to navigate a second Trump presidency and further enhance the bilateral partnership.
India’s decision to stay out of the RCEP trade bloc was a smart move, according to think tank GTRI. They argue that joining could have worsened India’s already large trade deficit with China. GTRI points out that other RCEP members have seen their trade deficits with China grow, suggesting that the agreement benefits China more […]
Following Donald Trump’s election as US president, Indian officials are drafting policy briefs on trade and investment. These aim to address potential concerns about India’s trade practices and highlight investment opportunities, particularly in infrastructure and supply chain diversification away from China.