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UNCTAD roundtable: Piyush Goyal says India embraces Atmanirbharta; willing to ‘pay extra buck’ for resilient supply chains

File photo: Union minister Piyush Goyal (Picture credit: ANI) India has adopted the path of “Atmanirbharta” or self-reliance to address vulnerabilities revealed in global supply chains, placing greater importance on resilience and trust over mere cost efficiency, union minister for commerce and industry Piush Goyal said. Speaking at the UNCTAD ministerial roundtable on ‘Towards Resilient,…

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Donald Trump tariffs: US 40% trans-shipment levy intended for China could end up hitting Asean supply chains including India; Moody’s flags risks

File photo (Picture credit: AP) The 40 per cent trans-shipment tariff recently announced by the United States is expected to create significant compliance challenges for companies in India and the ASEAN region, particularly in sectors such as machinery, electrical equipment and semiconductors, Moody’s Ratings said on Tuesday.In July, US President Donald Trump imposed the tariff…

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India-Korea trade talks: New Delhi, Seoul to explore joint initiatives in electronics; EV parts and digital supply chains

India and South Korea have agreed to explore joint initiatives in the fields of electronics, electric vehicle (EV) components and trusted digital supply chains, the commerce ministry said on Friday.The discussions took place between Minister of State for Commerce and Industry Jitin Prasada and his Korean counterpart Yeo Han-Koo on the sidelines of the G20…

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Trade strategy: India pushes ‘self-reliance’ and ‘resilient supply chains’; Piyush Goyal warns against weaponisation

India is strengthening its focus on self-reliance and building resilient supply chains to safeguard the country against global disruptions and the weaponisation of trade, Commerce and Industry Minister Piyush Goyal said on Tuesday.Speaking at the curtain-raiser of the CII Partnership Summit to be held in November at Visakhapatnam, Goyal stressed that India’s approach rests on…

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‘Proliferation of trade-restrictive actions’: Brics declaration slams Trump tariffs; warns move to threaten global supply chains

NEW DELHI: Foreign ministers of Brics nations, meeting on the sidelines of the 80th UN General Assembly (UNGA80), slammed Donald Trump-led US administration’s tariffs on over 70 countries, calling them a “proliferation of trade-restrictive actions” that endanger global supply chains and economic stability.In their joint statement, the ministers said they were concerned “over proliferation of…

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