New tariff threat more of a pressure tactic: Oil industry

In a striking political maneuver, US President Donald Trump is endorsing legislation that would impose a staggering 500% tariff on Russian oil purchasers. Indian oil executives perceive this as a tactical pressure play in ongoing trade negotiations rather than a serious ultimatum. The intention appears to be to coerce India while nudging Russia towards a […]

India’s finance ministry is set to remove restrictions on Chinese firms bidding for government contracts. These curbs were imposed in 2020 following border tensions. The move aims to boost commercial ties and address project delays. Several ministries have requested exemptions to overcome constraints. A high-level committee also recommended easing these measures.

A proposed sanctions bill in the US is set to deliver heavy tariffs on nations importing inexpensive Russian oil. India could face significant repercussions, while China appears insulated from these measures.

Union Budget: India plans to simplify its customs duty structure. The government is considering reducing the number of duty slabs to five or six. This move aims to cut down on disputes and make import duties align better with national priorities. The upcoming budget is expected to announce these changes.

India aims to be the world’s third-largest economy. Minister Nitin Gadkari stated this requires reducing imports and boosting exports. He highlighted converting agricultural waste into a national resource. This process can cut pollution from crop burning. It also strengthens the circular economy. Blending 15% with agro-waste can save foreign exchange. This will significantly reduce dependence […]

In an unprecedented move, India has brought in three million cotton bales during the December quarter, spurred by a newly established duty-free window. This influx can be attributed to declining domestic yields and crop damage affecting quality. With projections indicating sustained high imports through FY26, mills have fortified their inventories of cotton, securing supplies until […]

India’s natural mentha oil industry faces a crisis. Exports and production have fallen significantly. Synthetic mint, a cheaper lab-grown alternative, is flooding markets. Farmers are shifting to other crops as demand for natural mentha wanes. Bulk buyers now prefer the synthetic version for its consistent quality and lower cost. This trend threatens the future of […]

The Indian leather industry met with a Parliamentary Standing Committee on Commerce, highlighting that 50% US tariffs are significantly harming exports and impacting the sector’s competitiveness. They urged for bilateral engagements to address trade barriers and requested policy and diplomatic support to mitigate socio-economic consequences.

Ramesh Juneja has taken over as the new Chairman of the Council for Leather Exports. The organization sees significant growth potential for India’s leather and footwear exports. Bilateral trade agreements with the EU and US could boost exports to $14 billion in the next 3-5 years. Currently, exports stand at around $5.5 billion.

New Zealand and India have concluded a Free Trade Agreement. This pact is set to boost exports and create jobs for New Zealand. The deal aims to enhance market access and promote investment. It is expected to take effect in seven to eight months. This agreement signifies a significant step in strengthening bilateral economic ties […]