US trade gap skids to 2-year low; tariffs exert pressure on service sector

In June, the U.S. trade deficit narrowed significantly, particularly with China, reaching its lowest point in over two decades due to President Trump’s tariffs. However, these tariffs are impacting the broader economy, as the services sector shows signs of slowing down with rising costs and business uncertainty. Despite a rebound in GDP, concerns about weakening […]

India is currently hosting envoys from various nations to advance the IMEC initiative. This project aims to establish a rail and ports network connecting India, the Middle East, and Europe. The IMEC seeks to reduce logistics costs and transportation time significantly. It also aims to foster trade and cultural connections.

President Trump threatened to substantially increase tariffs on Indian imports due to continued Russian oil purchases, despite India’s strong response and accusations of unfair targeting by the US and EU. India defends its actions as safeguarding national interests and economic security, highlighting its growing economy amid global uncertainty. Trade negotiations continue with scheduled talks in […]

India’s textile sector proposes a strategic move. They suggest eliminating the 11% duty on raw cotton imports. This could be a bargaining chip in trade talks with the United States. The goal is to secure favorable terms for Indian textiles and garments. Removing the duty may boost export competitiveness.

India strongly protested against potential US tariffs for importing Russian oil, arguing that it’s essential for affordable energy and national interest. The Ministry of External Affairs highlighted that the US and EU are unfairly targeting India while maintaining significant trade ties with Russia themselves, including energy and critical materials. India emphasized its role in stabilizing […]

India is set to launch a ₹20,000 crore Export Promotion Mission by September, aiming to protect exporters from global trade uncertainties. The initiative, driven by multiple ministries, includes measures for easy export credit, tackling non-tariff barriers, and promoting Brand India. This plan seeks to mitigate the impact of the US’s 25% tariff on Indian goods […]

Donald Trump’s recent moves suggest a softer stance on China, raising concerns among allies like India and Taiwan. Hosting Pakistan’s army chief, cancelling a Taiwan dialogue, and lifting Nvidia’s AI chip ban are seen as major shifts. Critics warn these concessions, driven by trade pressures and political deals, undermine long-term Indo-Pacific strategies and sideline key […]

Fitch Ratings reports a significant increase in US tariffs on Indian goods by 2025. This rise to 20.7% from 2.4% may hinder India’s economic expansion. Goldman Sachs has already lowered India’s growth forecasts. HDFC Bank also anticipates a GDP growth reduction. Moody’s Ratings suggests potential challenges for India’s manufacturing sector. However, India’s economy is expected […]

Narendra Modi government faces Donald Trump’s tariff threats. Modi urges citizens to buy local goods. India continues Russian oil purchases despite US pressure. The US criticizes India’s ties with Russia and BRICS membership. India defends its relationship with Russia, emphasizing its independence. Trade negotiations with the US are expected. India prioritizes its farmers and industries […]