India’s auto component industry anticipates minimal long-term effects from US and Mexico tariffs. Exports to these nations are currently modest. The industry expresses concern over tariffs on commercial and off-road vehicle parts. Industry leaders expect exports to recover, supported by India’s cost advantage. Opportunities exist in ICE powertrain parts and wiring harnesses.
Industry optimistic about growth in auto parts exports despite Trump tariffs
US Treasury calls on G7, EU to impose tariffs on China, India over Russian oil purchases
6 months ago
The U.S. Treasury is urging G7 and EU allies to impose tariffs on goods from China and India to curb their Russian oil purchases, aiming to cut off funding for Russia’s war in Ukraine. An emergency G7 finance meeting is convened to discuss escalating pressure on Moscow.
Sona Comstar’s CEO, Vivek Vikram Singh, is urging government intervention to address rare earth metal supply constraints from China, impacting auto component production. The company faced production losses and is using less efficient alternatives. Singh also lauded recent GST rate cuts as a boost for the industry and emphasized the importance of the India-EU FTA […]
India and the European Union are actively pursuing a comprehensive free trade agreement, aiming to finalize negotiations by the end of December. Both sides are engaged in intensive discussions to create a balanced and mutually beneficial partnership that encourages innovation and strengthens supply chains.
India, EU trade pact to help promote trade in auto sector: EU Trade Commissioner Sefcovic
6 months ago
The EU and India are negotiating a trade agreement. This agreement aims to boost trade by removing tariffs on auto parts. Maros Sefcovic says this will help both economies. The deal could bring new technology to India. It may also help develop better combustion engines and electric vehicles. Both sides want to finalise the deal […]
Sergio Gor, US ambassador-designate to India, told the Senate that trade discussions with India are progressing. He highlighted India’s strategic importance to the US. Gor pledged to strengthen ties in security, trade, and shared values. Secretary Rubio emphasized India’s central role in the Indo-Pacific. Howard Lutnick criticized India’s purchase of Russian oil during an interview.
Indian exporters met Reserve Bank of India governor Sanjay Malhotra. They requested loan repayment moratoriums and interest subvention schemes. A dedicated export credit sub-target under priority sector lending was also requested. The Federation of Indian Export Organisations highlighted challenges from reduced orders and longer payment cycles. The US imposed tariffs on Indian goods, impacting various […]
FIEO seek RBI intervention; exporters facing challenges from high tariffs, input cost inflation
6 months ago
FIEO urged the RBI to address challenges faced by exporters, including rising tariffs and demand volatility. They requested flexible credit solutions, extended credit periods, and a moratorium on loan repayments. FIEO also proposed a government-backed credit scheme for SMEs and a dedicated export credit target within priority sector lending to improve financial access and global […]
Trade pact with EU to provide huge opportunities for Indian auto industry: Rajesh Agrawal
6 months ago
A senior government official stated that the proposed trade pact with the EU presents significant opportunities for the Indian auto industry to increase exports and establish partnerships with major European automobile manufacturers. The agreement aims to balance market access while safeguarding domestic sectors, with gradual opening over 5-15 years.
Sergio Gor, President Trump’s nominee for U.S. ambassador to India, stated during his Senate confirmation hearing that the United States and India are close to reaching an agreement on tariffs. Gor, a close aide to Trump, expressed optimism about resolving the tariff issue between the two nations. He is currently the director of the White […]