Import duty on raw cotton waived off till September-end

The Indian government has temporarily suspended the 11% import duty on raw cotton until September 30th to improve domestic supply. This decision is anticipated to benefit the textile sector by providing raw materials at competitive global rates and potentially increasing cotton imports from the US, particularly for premium exports.

A parliamentary panel suggests recalibrating India’s export strategy by enhancing manufacturing competitiveness and diversifying markets to counter global economic headwinds. The panel urges expanding production-linked incentives to high-tech and green manufacturing. Additionally, the government is urged to expedite CPSE privatization and aim for 8% economic growth with increased investment.

India faces potential tariffs of $48.2 billion on exports to the US following reciprocal duties imposed starting August 2025. The government is negotiating a trade agreement with the US, but talks have been delayed. Despite this, India’s exports to the US grew by 21.64% during April-July FY25. Countervailing duties have also been announced by the […]

India’s Russian oil imports decreased in July due to reduced discounts and seasonal demand dips, with private refiners taking the majority. State refiners are shifting to Middle Eastern and U.S. supplies amid narrowed Urals discounts. Overall, Russian oil imports fell slightly in January-July, while U.S. purchases increased significantly, and Latin American imports were skipped in […]

U.S. Treasury Secretary Scott Bessent has accused India of “profiteering” from increased Russian oil purchases during the Ukraine war, now constituting 42% of India’s oil imports. Bessent contrasted this with China’s 16%, deeming India’s actions, which he calls “Indian arbitrage,” unacceptable.

Peter Navarro has criticized India’s crude oil imports from Russia, deeming them “opportunistic” and warning of consequences for the US-India strategic partnership. He alleges India’s actions are financing Russia’s war in Ukraine and jeopardizing access to US markets. These remarks precede a postponed US trade negotiation visit and potential tariffs on Indian goods due to […]

Indian exporters frontloaded shipments to the US to avoid potential higher duties, leading to a 21% export surge between April and July. While this growth provides a buffer for discounts, exporters fear a 50% tariff could devastate businesses with thin margins. Industry leaders are seeking government assistance to mitigate potential job losses, particularly in the […]

India’s economy is bracing for impact. The US tariffs on Indian exports are set to double. Carpet makers and other industries face potential ruin. Millions could fall into poverty. Prime Minister Narendra Modi calls for self-reliance. The move is seen as a setback for free trade. Workers in villages dependent on exports are worried.

U.S. Secretary of State Marco Rubio warned that global energy prices could rise if the U.S. imposes secondary sanctions on China for refining Russian oil, amid criticism over the U.S. placing a 25% tariff on India for similar purchases but sparing China.

As Narendra Modi visits China, partnership deals between Indian and Chinese companies face delays. China is carefully vetting technology transfer terms, impacting sectors like appliances and auto components. Haier’s stake sale in its Indian unit is held up. PG Electroplast’s compressor project also faces delays. These hurdles affect Indian firms reliant on Chinese technology and […]