Russian oil shifts to China as tariffs hit India

Russian crude oil shipments saw a rebound. This happened as China increased its intake. It compensated for reduced exports to India. This reduction followed US President Trump’s tariffs. These tariffs were imposed on India. They impacted Moscow’s crude flow to India. Overall weekly crude shipments from Russian ports jumped. Ukrainian attacks on Russian refineries potentially […]

The government has extended the export obligation period for chemical imports. This extension, under the advance authorisation scheme, moves from six to eighteen months. The Ministry of Chemicals and Fertilisers says this will help exporters. It simplifies trade and boosts the global market position of Indian goods.

Carpet traders in Bhadohi faced significant challenges due to US tariffs. The Carpet Export Promotion Council reported a major business decline. Sixty percent of Bhadohi’s carpet exports went to America. Factories reduced staff due to halted production. The council urged government intervention to alleviate the financial burden. Alternatives to the US market are being explored.

Confederation of Indian Industry president Rajiv Memani believes that GST reductions, reforms, and lower interest rates can counterbalance the impact of the 50% US tariffs on India. He highlights the government’s positive response and the opportunity for further reforms to enhance competitiveness.

India and the UAE recently engaged in discussions. They focused on strengthening ties in renewable energy and digital infrastructure. Both nations want better trade data sharing. This will improve monitoring under their trade agreement. They also reviewed progress under the India-UAE CEPA. The aim is to reach $100 billion in non-oil trade by 2030.

The India-UK Free Trade Agreement, signed by Prime Ministers Modi and Starmer, aims to slash trade tariffs significantly, boosting business confidence. UK Business and Trade Secretary Jonathan Reynolds stated the deal will reduce Indian tariffs on UK products from 15% to 3%, potentially increasing bilateral trade by £25.5 billion.

Lucknow’s export businesses are struggling. The US imposed a 50% tariff on Indian goods. This affects apparel, leather, and saree industries. Noida, Kanpur, and Varanasi face job losses and order cancellations. Exporters seek government support. They plan to meet with Union Commerce Minister Piyush Goyal. Varanasi traders protested. Other districts also raised concerns. The UP […]

Facing rising US tariffs, Indian exporters of rice, gems, jewellery, and tractors had already begun diversifying into markets like the UAE, Bangladesh, and Italy. The Indian government is implementing a phased export diversification plan, targeting existing markets such as the EU and UK in the short term. Longer-term strategies involve exploring new opportunities in Latin […]

The GJEPC is appealing to the Centre for immediate relief as the US tariffs of 50% on Indian goods are impacting the gems and jewellery industry. Exporters had anticipated tariff action, but the unexpected duty has left the industry reeling, especially in Surat.

A new report suggests that losses from US tariffs on Indian textiles could be offset by increased exports to the UK, thanks to the recent India-UK FTA. Ongoing EU trade negotiations may further boost India’s textile trade. While textile exports are expected to decline, government support and growth in yarn and fabric exports could mitigate […]