Indian exporters begin talks with American buyers to address the impact of the US’s additional 26% import duties on Indian goods starting April 9. The affected sectors include hand tools, leather, woolen, and carpets. Exporters emphasize that these duties will hurt demand and job creation, while calls are made for India to consider reducing tariffs […]
Exporters start talks with buyers on US tariffs
India can gain from impending US tariffs on China-made ships, says Safesea’s founder SV Anchan
1 year ago
Safesea’s founder SV Anchan believes India’s potential in the shipbuilding industry can be significantly enhanced by the US’s possible tariffs on Chinese-made ships. India can become a key player in shipbuilding with proper government reforms, favorable trade agreements, and investment incentives, leveraging its large workforce and strategic coastline.
Lok Sabha passes Coastal Shipping Bill 2024; will give fillip to maritime commerce, says Sonowal
1 year ago
The Lok Sabha has passed the Coastal Shipping Bill, 2024, aimed at regulating vessels trading in Indian coastal waters. Union Minister Sarbananda Sonowal emphasized the bill’s importance for boosting maritime commerce and ensuring cooperative federalism. The bill encourages Indian-flagged vessels, excludes fisheries, and aims to optimize the country’s coastal resources for economic growth.
Union Minister of State for Finance Pankaj Chaudhary stated that the Indian government is evaluating the effects of the US’s reciprocal tariffs, which include a 27% levy on Indian exports. He emphasized the contrasting national priorities of President Trump and Prime Minister Modi. Trump also announced tariffs impacting around 60 countries, with varying rates for […]
Banks in Mumbai are preparing for potential defaults from exporters heavily reliant on the US market due to new 27% tariffs. Lenders are reviewing their export loan books, focusing on impacted sectors like gems, jewellery, and textiles. Banks are also examining the tariff effects on competitors and RBI’s upcoming policy review.
NITI Aayog member Arvind Virmani states that the first phase of the US-India Bilateral Trade Agreement, effective by fall 2025, will counteract the new US tariffs’ impact on India’s manufactured exports. The agreement aims to derive potential long-term economic gains over the next decade.
US President Donald Trump imposed tariffs up to 99% on trading partners, with India facing a 27% reciprocal levy from April 9. The tariffs aim to address a $1.2 trillion trade deficit and revive local manufacturing, sparking concerns over global growth and trade retaliation.
Mundra Port, under Adani Ports, becomes the first Indian dockyard to handle over 200 million metric tonnes of cargo in 2024-25. APSEZ achieved its highest-ever cargo volume in March 2025, with notable increases in container and liquid/gas cargo handling, contributing to an annual total of 450.2 MMT.
Visakhapatnam Port Authority (VPA) celebrated its highest ever cargo handling in 2024-25 with 82.62 MT, marking a new milestone. Despite global trade challenges, key cargo segments saw increased volumes. The port also set a new record for steam coal discharge, aligning with India’s Maritime Vision 2030.
Govt analysing impact of 26% Trump tariff on India; it’s mixed bag, not setback: Official
1 year ago
India’s commerce ministry is analyzing the impact of the US’s 26% reciprocal tariffs on imports, set to take effect in stages from April 5. While the tariffs are seen as a challenge, the government views it as a mixed situation and not a setback. India is negotiating a trade agreement with the US, aiming for […]