Products from concessional steel for MSMEs need to be fully exported

Steelmakers are finalizing a mechanism to offer concessional rates for MSMEs and EEPC members, under the condition that products will be exported. This follows the planned imposition of a 12% safeguard duty on certain steel imports to protect local producers. This measure aims to prevent a domestic price surge while supporting exports.

India has suggested focusing on a bilateral trade agreement (BTA) with the US to address concerns over import duties and avoid reciprocal tariffs. Despite initiating discussions, the White House will make the final decision. Indian industry seeks protection from potential tariffs’ impacts, especially considering the US is India’s top trading partner.

India is set to expand its preferential trade agreement (PTA) with Chile into a Comprehensive Economic Partnership Agreement (CEPA) during President Gabriel Boric Font’s visit. The goal is to double bilateral trade to $100 billion, focusing on sectors like automobiles, medical devices, and pharmaceuticals.

India and the US aim to finalize a bilateral trade agreement (BTA) focusing initially on goods by fall 2023, followed by services. The pact seeks to significantly boost bilateral trade to USD 500 billion by 2030. Upcoming sector-specific talks will address trade tariffs, with US interests in industrial goods and agriculture, and India’s focus on […]

India’s merchandise exports are projected to fall slightly below USD 435 billion for FY 2024-25 due to factors like global oil price volatility and uncertainties. Key sectors such as petroleum products and gems and jewelry have recorded significant declines, highlighting the need for strategic interventions to support recovery.

India and the US held trade talks in New Delhi to work towards a Bilateral Trade Agreement (BTA) aimed at expanding trade to USD 500 billion by 2030. The goal is to finalize the first tranche by fall 2025, with discussions focusing on market access, reducing barriers, and supply chain integration.

India and the US will initiate virtual sectoral expert-level engagements for a bilateral trade agreement, progressing towards in-person negotiations to boost bilateral trade to $500 billion by 2030. The initial focus will be on tariff concessions and market access for goods.

India and the US will begin detailed sectoral discussions under their proposed bilateral trade agreement following four days of negotiations. The collaboration aims to enhance market access, reduce trade barriers, and deepen supply chain integration, targeting finalisation of the initial phase by fall 2025.

“They discussed ongoing efforts to reduce barriers to achieve a fair and balanced bilateral trade relationship, strengthen collaboration in defense and technology, and boost security and prosperity throughout the Indo-Pacific region,” US Department of State’s spokesperson, Tammy Bruce said.

As the US prepares to implement new tariffs starting April 2, India’s exports, especially in sectors like apparel and auto parts, face significant challenges. India is negotiating tariff cuts on US imports to mitigate impacts, while also exploring strategic opportunities to gain market share vacated by other countries.