India probes surging steel imports. Domestic steel makers allege harm from the import rise. The government might impose a 20% safeguard duty. The probe covers various steel products. It excludes certain specialized steel types. The investigation will analyze import data from recent years. A decision on duties is expected soon.
India begins safeguard probe for steel imports
India and the EU are working to address trade barriers under FTA negotiations. India’s Commerce Minister highlighted non-tariff barriers impacting domestic industries, urging resolution as a confidence-building measure. Both sides aim for a balanced and mutually beneficial agreement, with further talks scheduled for March in Brussels.
India raises trade barriers issue with EU
1 year ago
India and the EU discussed trade barriers and a potential free trade agreement. Commerce Minister Goyal highlighted non-tariff barriers impacting Indian businesses in the EU. Both sides agreed to work towards a mutually beneficial FTA. Nine rounds of negotiations have already taken place.
US Ambassador Eric Garcetti advocated for stronger US-India trade ties, emphasizing the need for lower tariffs and increased fairness. He lauded India’s workforce and called for combining American resources with Indian ingenuity to achieve mutual ambitions.
India’s import data since July is under scrutiny due to a potential miscalculation in gold imports. A transition in data portals may have led to errors, prompting a govt investigation. November’s gold imports were initially reported at a record high, impacting the trade deficit. Officials are examining whether gold movements within special economic zones were […]
India’s November 2024 gold import figures, showing a record high of $14.86 billion and a quadrupled increase, are under scrutiny by the commerce ministry due to a potential discrepancy. This surge contributed to a record trade deficit, prompting investigations into possible data errors similar to a 2011 incident. Experts are divided, with some suspecting miscalculations […]
India prepares to offer tariff cuts on US goods like pork, medical devices, and motorcycles, seeking a broader trade deal with the incoming Trump administration. To address trade imbalances, India proposes increased purchases of US LNG and defense equipment. Officials see opportunity in Trump’s China tariffs, pitching India as an alternative manufacturing hub.
Cochin Shipyard builds environment-friendly general cargo vessels for Norway’s Wilson ASA
1 year ago
Cochin Shipyard’s subsidiary, Udupi-Cochin Shipyard, launched the first of six cargo vessels for Norway’s Wilson ASA. These eco-friendly vessels, designed by Conoship International, will operate in European coastal waters. Wilson ASA has placed follow-on orders for eight more, totaling 14 vessels. This success highlights Udupi-CSL’s growing presence in the international shipbuilding market and its contribution […]
India is analysing potential impacts and preparing for possible US tariff increases under the Trump administration. Officials are examining various scenarios and remedies, while experts suggest a strategic approach, including potential tariff adjustments and WTO action. India’s current average import tariff is low, but specific products like Harley Davidsons and medical devices face higher tariffs.
Iran’s currency devaluation threatens Indian tea and basmati rice exports. The increased cost of imports may hinder sales of premium orthodox tea, while basmati rice exporters face insurance and pricing challenges. However, some believe the impact on rice may be mitigated by government subsidies.