India is considering easing restrictions on Foreign Direct Investment from China. This move comes amid warming relations between the two nations. Niti Aayog suggested relaxing the mandatory prior approval for investments up to 24%. Recent ministerial visits and agreements on flights and tourism signal improved ties.
Open to rethink on restrictions on FDI from China, says official
India is strategically targeting 40 countries, including the UK and Japan, to boost textile exports following the imposition of US tariffs. The initiative involves participating in international events and running sector-specific campaigns under a unified Brand India vision. These 40 nations represent a $590 billion textile import market, offering India significant growth potential.
India faces a significant challenge as the US imposes a 50% tariff on $48.2 billion worth of its exports, effective Wednesday, heavily impacting labor-intensive sectors like textiles and seafood. The government is strategizing to mitigate the effects through an Export Promotion Mission and potential GST reforms to bolster domestic demand.
ET looks at India’s trade with the US and how it fares viz-a-viz its competitors.
The Indian seafood industry, a major shrimp exporter to the US, faces challenges due to a 50% tariff increase. Export shipments are paused as both exporters and importers await market adjustments. US consumers will likely bear the brunt of the higher costs, as India’s value-added seafood products are difficult to replace immediately.
Indian gems and jewellery exporters are worried about the impact of the 50% tariff imposed by the US. They have approached the Reserve Bank of India for support regarding working capital. Exporters are also exploring rerouting shipments through countries with lower tariffs like Dubai and Mexico. Surat’s diamond industry fears job losses after Diwali.
India and the US held virtual talks focusing on strengthening their relationship. Discussions covered trade, investment, and critical minerals. Energy security and civil nuclear cooperation were also key topics. Both countries aim to increase defense cooperation. They plan to sign a new 10-year framework for defense partnership. The nations reaffirmed their commitment to a prosperous […]
The United States has announced a sharp increase in tariffs on Indian imports, doubling duties to 50 per cent from August 27. The move is aimed at pressuring India over its continued purchase of Russian oil as Washington pushes for an end to the war in Ukraine. New Delhi has strongly rejected the secondary tariffs, […]
Senior Japanese executives highlight India’s investment potential. They cite economic growth, demographics, and regulatory stability as key factors. Government initiatives like Make in India are also attracting foreign investment. Japanese firms see India as a prime destination due to its vibrancy and growth. Many Japanese companies operating in India are profitable.
Indian exporters are in a hurry to complete US orders before the increased tariffs take effect. Diamond jewellery, textiles, and marine products are being shipped quickly. Many factories are working overtime to meet the August 27 deadline. Air cargo is being used despite higher costs. Some exporters are exploring alternative routes via Dubai to reduce […]