At a meeting with exporters and industry, Piyush Goyal said that the team working on the Bilateral Trade Agreement (BTA) with the US is exploring the right mix and the right balance, and is “working with speed but not in undue haste” to ensure the right outcome for the country.
No need to panic, India-US talks on: Piyush Goyal to exporters
Lock, stock, and no cheap China imports
7 months ago
India is taking measures to protect domestic industries from cheap Chinese imports, which may flood the market due to escalating tariffs between China and the US. Policymakers are exploring minimum import prices, safeguard duties, and anti-dumping measures. The Directorate General of Trade Remedies (DGTR) has already initiated several inquiries against Chinese imports to prevent harm […]
“We have a shared ambition to ensure economic stability, increase investment, and reform our economies to drive growth and prosperity across both our countries,” read a joint statement at the end of the 13th Economic and Financial Dialogue (13th EFD) between the two nations, held in London.
India’s smartphone exports reached a record ₹2 lakh crore in the last fiscal year, marking a 54% increase, with Apple iPhones accounting for ₹1.5 lakh crore. The electronics manufacturing sector has grown fivefold in the last decade, with exports increasing six times. The government has announced a ₹22,919 crore electronics component manufacturing scheme to further […]
India is considering zero-duty imports from the US in various sectors, including those under the PLI scheme, to expedite a bilateral trade agreement and reverse reciprocal tariffs. This offer hinges on strict rules of origin, requiring 30-40% value addition and tariff heading changes.
Banks told to push global trade settlement in Rupee
7 months ago
The government is urging banks to promote settling international trade in Indian rupees, aiming to reduce reliance on the US dollar and lower foreign exchange costs. Discussions are underway to streamline the special rupee vostro account (SRVA) mechanism. The RBI is enhancing the Indian Financial Network to facilitate secure international fund transfers via SRVA.
Commerce Minister Piyush Goyal assured businesses that India’s interests remain paramount in trade pacts. He highlighted ongoing positive trade talks with the US, aiming for India’s developed nation status by 2047. Goyal also mentioned plans for Indian Institutes of Management and Foreign Trade in the UAE, emphasizing Dubai’s role as a gateway to the Middle […]
Commerce and Industry Minister Piyush Goyal will meet with exporters to address concerns arising from the US’s imposition of a 26% reciprocal tariff. The discussion will involve commerce ministry officials, EPCs, and FIEO representatives, focusing on the potential impact on Indian exports like shrimp, carpets, and medical devices, given the US accounts for a significant […]
The 26% reciprocal tariff imposed by the US on India is lower than tariffs on countries like China (54%), Vietnam (46%) and Bangladesh (37%), offering India a relative competitive edge, experts say.
India is establishing an import monitoring group to prevent the diversion of goods from countries facing higher US tariffs, such as China and Vietnam. This move comes as the US has imposed a 26% reciprocal tariff on India, while other Asian competitors face higher rates.