India and the United States are actively discussing solutions to tariff-related disputes, aiming to formulate a bilateral trade agreement framework. The Ministry of External Affairs in India remains hopeful about reaching an understanding soon, signaling a possible breakthrough in their economic relationship.
India, US eye middle ground in trade talks amid tariff tussle
Exporters from SEZs and EOUs can claim benefits under the RoDTEP scheme until February 5, 2025. However, from February 6, exports from these categories will no longer be eligible. The scheme’s extension highlights export challenges as volumes decline, urging the government for a five-year rate announcement.
India may shield its economy from US trade tensions to some extent, but the ultimate impact hinges on trade deal outcomes. Global economic uncertainties have led to currency fluctuations and liquidity challenges, prompting proactive steps by the RBI and the government to sustain economic momentum.
Nitin Gadkari outlined India’s plan to reduce logistics costs to single digits, enhancing global competitiveness at the Convergence India & Smart Cities Expo. Key highlights include advancements in AI, 5G, and Smart City Solutions. The event features AI Bharat Expo and a Startup Hub, offering mentoring and investor connections, with discussions on India’s energy data […]
Garden Reach Shipbuilders signs MoU with PWD Nagaland for modular steel bridges, shares soar
7 months ago
Garden Reach Shipbuilders & Engineers shares surged 8.5% after signing a pact with PWD Nagaland to provide eight double-lane modular steel bridges, aligning with the Make in India initiative. The MoU, signed in Kohima, marks GRSE’s first collaboration with a North Eastern state, and follows previous deliveries to organizations and countries such as Bhutan, Nepal, […]
India has launched an anti-dumping investigation on flexible slabstock polyol imports from China and Thailand amid allegations that low-priced imports are harming the domestic industry. The investigation follows a complaint by Manali Petrochemicals Limited, urging that China be treated as a non-market economy.
Which duty is it- CVD, safeguard or dumping?
7 months ago
The Directorate General of Trade Remedies (DGTR) has proposed a 12% provisional safeguard duty on certain steel products for 200 days to protect the domestic industry. This measure, alongside anti-dumping and countervailing duties, aims to address issues of dumping, subsidized imports, and unexpected surges in imports.
India’s limited exposure to US tariffs mitigates direct risks, but potential trade redirection could affect its steel and chemicals sectors, according to S&P Global Ratings. India’s exports to the US constitute 2.3% of its GDP. Despite projected economic growth slowing to 6.7% in FY25, India remains the fastest-growing economy in Asia-Pacific.
Services sector should aim to exceed merchandise exports next fiscal: Commerce Minister Piyush Goyal
7 months ago
India’s services sector is experiencing robust growth, with Commerce Minister Piyush Goyal urging the sector to aim for USD 450 billion in exports by next fiscal year, surpassing merchandise exports.
India’s steel imports could halve by FY26, as the government considers a 12% provisional safeguard duty on some steel products. This measure is anticipated to boost domestic manufacturers’ profitability and capacity utilization, with imports expected to decline significantly and domestic demand growing steadily.