With Donald Trump’s return, India is evaluating importing more from the US to enhance trade relations. The move looks to reduce tariffs and balance trade. India plans to boost exports, especially in pharmaceuticals and electronics, amidst higher US tariffs on Chinese goods. Government encourages domestic production to meet this new demand.
Trump’s Trade Tactics: Will India make the ‘import’ switch?
India Budget: The Union Budget for FY26 will likely aim to strengthen trade relations with the USA, with a focus on reducing tariffs on US imports. This move comes as part of India’s strategy to boost exports of high-value goods and services, crucial for maintaining trade balance with major markets amid potential global trade conflicts.
Trade winds in Trump regime
1 year ago
Donald Trump assumes the US presidency for a second term today, raising concerns about potential escalations in trade and tariff disputes with key trading partners.
India’s mobile phone exports reached a record $20.4 billion in 2024, driven by strong overseas shipments from Apple and Samsung, marking a 44% increase from 2023. Apple’s exports accounted for 65% of the total, while Samsung contributed 20%. The production linked incentive (PLI) scheme launched in 2021 significantly boosted exports and job creation in the […]
India and the EU will collaborate on developing technologies and securing raw material supply chains to boost economic ties, as discussed by Commerce Minister Piyush Goyal and Maros Sefcovic. The aim includes a meaningful trade agenda, a robust Free Trade Agreement, and addressing non-tariff barriers for mutual business benefits.
The government’s goal of achieving USD 1 trillion in exports by 2030 includes a target of USD 250 billion from the engineering sector, according to Commerce Secretary Sunil Barthwal. He emphasized the importance of infrastructure developments, energy transition, and innovative technologies, encouraging industry players to enhance global competitiveness.
India is not seeking customs duty concessions on over 100 products, including liquor and cigarettes, in the proposed FTA with Oman. While the agreement negotiations concluded, Oman requested revisions on some market access offers. India’s industry urges against extending petrochemical concessions due to competitive disadvantages. Bilateral trade between India and Oman stands at USD 8.94 […]
Stakeholders from 11 countries to discuss business opportunities at Maritime India Conference
1 year ago
Around 7,500 stakeholders from 11 countries, including the US, UAE, and Norway, will participate in the Maritime India Conference. Union Minister Sarbananda Sonowal will address the event. The conference will focus on transforming ports with smart technologies and sustainable practices, accelerating decarbonisation, enhancing maritime logistics, and innovations in shipbuilding and repair. The event aligns with […]
Manufacturers of medical devices have welcomed the move, stating this decisive clarification reinforces the regulatory framework designed to ensure the highest standards of patient safety. Dr Sudhir Srivastava, former Chair of the Medical Device Committee at PHDCCI, said that the decision by CDSCO marks a pivotal step towards reinforcing India’s self-reliance in medical technology.
Elon Musk discusses the future of US-India trade relations, advocating for reduced trade barriers and enhanced collaboration in technology and space exploration. He engages with Indian business leaders as the India Global Forum expands into the US, ahead of Donald Trump’s second presidential term.