Nirmala Sitharaman announced India’s plan to aid exporters affected by increased U.S. tariffs. The new duties included levies on Indian goods, impacting sectors like textiles and jewellery. The government will offer credit guarantees for small businesses and exporters. Labour-intensive industries face significant challenges, leading to job losses. The tariffs have strained relations between India and […]
India plans relief package for exporters hit by US tariffs
India dismisses reports on Xi Jinping’s secret letter to Prez Murmu, calls it ‘incorrect’
2 months ago
The Ministry of External Affairs refuted a Bloomberg report suggesting Chinese President Xi Jinping sent a ‘secret letter’ to Indian President Droupadi Murmu. The alleged letter, delivered in late August, reportedly conveyed concerns about US deals potentially harming China’s interests. The report indicated the letter was also intended for Prime Minister Narendra Modi, but the […]
Narendra Modi spoke with European Council President Antonio Costa and European Commission President Ursula von der Leyen. They talked about the Free Trade Agreement and the Ukraine situation. They stressed the importance of the India-EU partnership. They also discussed progress in trade, technology and other sectors. The leaders want to finalize the India-EU FTA soon.
India’s diesel exports to Europe witnessed a significant surge in August, climbing 137% year-on-year to 242,000 barrels per day. This increase is attributed to European buyers preparing for the upcoming EU ban on fuels refined from Russian crude in 2026.
India aims to increase medicine exports to Africa, Latin America, and Southeast Asia. This strategy reduces reliance on the United States due to tariff concerns. The Pharmaceuticals Export Promotion Council of India also plans to increase finished goods sales to Cheen. This addresses the trade deficit. The industry imports raw materials from Cheen.
EU trade chief Maros Sefcovic is scheduled to visit New Delhi next week, signaling significant advancements in the ongoing negotiations for a free trade agreement. Indian trade minister Piyush Goyal highlighted the “rapid progress” made in discussions with the EU, aiming for a deal by year-end. This development occurs amidst recent tariff hikes by the […]
Imposed tariffs against India for purchasing Russian energy products: Trump admn tells Supreme Court
2 months ago
The Trump administration has imposed tariffs on India for buying Russian energy. These tariffs are a response to Russia’s war in Ukraine. The US Supreme Court is reviewing the legality of these tariffs. The administration argues they are crucial for peace and economic prosperity. India views the tariffs as unjustified and is taking steps to […]
Jaishankar pushes for swift India-EU FTA
2 months ago
India seeks a swift conclusion to free trade agreement talks with the European Union. External Affairs Minister S Jaishankar discussed this with his German counterpart Johann Wadephul. Germany pledged its support for the India-EU FTA. Discussions also covered boosting ties in economy, climate, defence and technology.
During a meeting in New Delhi, India addressed migration, visa processes, and non-tariff barriers impacting Indian exporters in the EU, including Germany. Minister Goyal and Foreign Minister Wadephul agreed to collaborate on resolving these issues to facilitate smoother trade.
India’s crude imports hit a 10-month low in August due to weaker domestic demand, even as Russian supplies increased by 5.6% to 1.67 mbd, raising its share to 37%. Imports from Iraq, Saudi Arabia, and the US declined, while the UAE emerged as a significant gainer. Discounts on Russian oil continue to attract Indian refiners, […]