ET Titan Talk: Factories without borders—Allcargo Chairman on India building global freight icons
Peter Navarro has criticized India’s crude oil imports from Russia, deeming them “opportunistic” and warning of consequences for the US-India strategic partnership. He alleges India’s actions are financing Russia’s war in Ukraine and jeopardizing access to US markets. These remarks precede a postponed US trade negotiation visit and potential tariffs on Indian goods due to […]
Trump’s tariff gamble sparks Indian export rush to US, but a 50% duty threat hangs heavy
2 months ago
Indian exporters frontloaded shipments to the US to avoid potential higher duties, leading to a 21% export surge between April and July. While this growth provides a buffer for discounts, exporters fear a 50% tariff could devastate businesses with thin margins. Industry leaders are seeking government assistance to mitigate potential job losses, particularly in the […]
India’s economy is bracing for impact. The US tariffs on Indian exports are set to double. Carpet makers and other industries face potential ruin. Millions could fall into poverty. Prime Minister Narendra Modi calls for self-reliance. The move is seen as a setback for free trade. Workers in villages dependent on exports are worried.
U.S. Secretary of State Marco Rubio warned that global energy prices could rise if the U.S. imposes secondary sanctions on China for refining Russian oil, amid criticism over the U.S. placing a 25% tariff on India for similar purchases but sparing China.
China hoarding its tech riches fiercely
2 months ago
As Narendra Modi visits China, partnership deals between Indian and Chinese companies face delays. China is carefully vetting technology transfer terms, impacting sectors like appliances and auto components. Haier’s stake sale in its Indian unit is held up. PG Electroplast’s compressor project also faces delays. These hurdles affect Indian firms reliant on Chinese technology and […]
Tailor-made measures for key export sectors likely
2 months ago
Faced with US tariffs, the government is considering targeted, industry-specific measures like relaxed credit lines for textiles, instead of a broad loan guarantee scheme. Integration with PM Vishwakarma and BharatNet is also being explored, alongside cluster-based funds and lower insurance premiums. These steps are crucial amid uncertainty surrounding bilateral trade agreement talks and rising concerns […]
To protect domestic manufacturers, the Directorate General of Trade Remedies suggests imposing a safeguard duty on specific flat steel products. This duty will be applicable for three years. The recommendation includes a 12% duty in the first year, followed by 11.5% and 11% in the subsequent years.
The Duty-Free Import Authorization (DFIA) scheme, intended to lower exporter costs, is reportedly being exploited, becoming a “license to loot” due to unclear policies and weak enforcement. GTRI urges immediate government intervention, advocating for a forensic audit of past licenses and duty recovery to restore faith in India’s export incentives and prevent honest exporters from […]
Kolkata Port inaugurated its first public-private partnership terminal at Khidderpore Docks, a Rs 190 crore project by Century Ports Ltd. Equipped with modern technology, the terminal aims to handle 1.65 lakh TEUs of containers and 3.3 lakh tonnes of cargo. This 30-year concession agreement is expected to boost cargo movement and modernize the dock system.