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Mexico has approved steep tariff hikes of up to 50% from the year 2026 on a wide range of imports from India, China and several other Asian countries in order to protect the national industry and producers, Reuters reported.The bill passed by the Senate on Wednesday with 76 votes in favour, 5 against and 35…
Union Cabinet’s approval of a Rs 7,280 crore rare earth permanent magnet (REPM) scheme has been welcomed by industry executives as a major boost to India’s EV and electronics supply chains. The programme aims to create 6,000 metric tonnes per annum of integrated REPM capacity through five globally bid projects, supported by sales-linked incentives and…
India’s merchandise exports fell 11.8% to $34.38 billion in October, even as inbound shipments registered strong growth, pushing the trade deficit to $41.68 billion, government data released on Monday showed.Imports jumped 16.63% to $76.06 billion, driven largely by a sharp rise in precious metal inflows, PTI reported. Gold imports surged to $14.72 billion, nearly tripling…
India has finalised its first structured one-year agreement to import liquefied petroleum gas (LPG) from the United States, Union petroleum minister Hardeep Singh Puri announced on Monday. Describing the development as a “historic first”, he said Indian public sector oil companies had secured a contract to source LPG from the US Gulf Coast. The update…
US president Donald Trump The TOI correspondent from Washington: Indian spice merchants and tea growers will be among global exporters who will breathe a sigh of relief along with American consumers after US President Donald Trump, feeling the heat of rising domestic prices due to tariffs, moved to lower import duties on nearly 200 food,…
After six months of uncertainty, China has resumed shipments of heavy rare earth magnets to India, offering much-needed relief to manufacturers in the electric vehicle, renewable energy and consumer electronics sectors. However, the shipments come with a key condition, the cargo cannot be re-exported to the United States. The supply flow had earlier been halted…
NEW DELHI: The ministry of external affairs on Thursday announced that some of the Indian companies have received licenses for importing rare earth magnets from China. During a weekly press briefing, MEA spokesperson Randhir Jaiswal said, “Some Indian companies have received licenses for importing rare earth magnets from China. We have to look at how…
India’s crude oil import costs have become increasingly expensive in the current financial year as the share of Russian crude in the country’s oil basket declines, a new report by Kotak Institutional Equities showed.It explained that alternative suppliers might be more expensive due to which premiums will remain elevated, impacting GRMs for refiners.The brokerage highlighted…
Britain’s Prime Minister Keir Starmer, centre right, at Chhatrapati Shivaji Maharaj International Airport in Mumbai (Picture credit: PTI) LONDON: UK Prime Minister Keir Starmer insisted he will not relax visa rules to offer more to Indians just before his flight touched down in Mumbai on Tuesday night in his first major trade mission to India.Accompanied…
India’s push for self-reliance in manufacturing is beginning to show results, with several consumer-facing companies cutting back sharply on their dependence on imports. As per ET, a study of 20 listed firms in automobiles, electronics and FMCG found that foreign exchange outflows as a share of sales have dropped significantly between FY20 and FY25, mainly…
