The government has implemented import restrictions on cabinet hinges priced below Rs 280 per kilogram, aiming to curb inexpensive imports, particularly from countries like China. This measure, announced by the directorate general of foreign trade (DGFT), requires importers to obtain permission for hinges falling below the specified price threshold. Previously, no such restrictions were in […]
Govt restricts cabinet hinges priced below Rs 280 per kilogram
The government has eliminated port restrictions on specific leather exports, including finished, wet blue, and El tanned varieties, a decision celebrated by industry exporters. Simultaneously, import restrictions have been imposed on cabinet hinges priced below Rs 280 per kilogram to curb inexpensive imports.
The government has reinstated the RoDTEP scheme benefits for exporters operating under Advance Authorisation, EOUs, and SEZs, effective June 1, 2025. This move aims to enhance the global competitiveness of Indian exporters by refunding taxes and duties not covered by other schemes.
India, US trade: Despite a reported USD 44.4 billion trade deficit, the US actually enjoys a USD 35-40 billion surplus with India when factoring in revenue from education, digital services, and other sectors. This challenges the narrative of India unfairly benefiting from trade. GTRI suggests India should confidently negotiate free trade agreements, pushing back against […]
US officials likely to visit India for next round of talks on interim trade pact: Sources
6 months ago
US officials are expected to visit India for trade talks, aiming to finalize an interim agreement before July 9. India seeks full exemption from the 26% reciprocal tariff. Negotiations are progressing rapidly, with both nations targeting the first phase of a bilateral trade agreement by fall. The US remains India’s largest trading partner, with a […]
India, Maldives to review implementation of economic, maritime security partnership on Monday
6 months ago
Maldivian Foreign Minister Abdulla Khaleel is in India for a three-day visit to review the India-Maldives comprehensive economic and maritime security partnership with External Affairs Minister S Jaishankar. This visit, his third this year, signifies continued high-level political engagement. Both leaders will assess the progress of the vision document adopted last October, aiming to strengthen […]
Indian companies, including Dixon Technologies and Tata Consumer Products, are experiencing increased demand from US partners due to the US tariff scenario. CEOs anticipate the India-US bilateral trade agreement will further boost business. While some companies face short-term margin pressure, they remain optimistic about growth and demand, particularly in exports to North America.
India’s FTA with the UK offers nuanced duty concessions for the auto sector, linking relaxations and quotas to engine capacity and vehicle prices. Import duties will be reduced over 10-15 years with adequate safeguards for sensitive sectors. The agreement aims to double two-way commerce by 2030, benefiting companies like Tata-JLR.
Commerce and Industry Minister Piyush Goyal met with European Commissioner for Trade Maros Sefcovic in Brussels to advance free trade agreement negotiations, aiming for an early harvest deal by July. Discussions cover key areas like IPR, government procurement, and tariffs.
The US has informed the WTO that it sees no basis for India’s proposal to suspend concessions in response to American tariffs on steel and aluminium, arguing that these tariffs are not safeguard measures. India proposed retaliatory duties on 29 American products, claiming the US measures affect $7.6 billion in imports.