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NEW DELHI/MUMBAI: India’s steel, aluminium, and copper sectors will continue to face steep US tariffs, as these strategic metals remain subject to US’ Sec 232 provisions tied to national security. While the reciprocal tariff on Indian goods has been reduced from 25% to 18%, tariffs on steel, aluminium, and copper remain at 50%, offering no…
NEW DELHI: A US-India trade deal is set to add to the already strong growth momentum and revive investor interest for Asia’s third largest economy as uncertainty gives way to optimism.Growth has remained strong and has gathered in strength on the back of a string of reform measures unleashed by the govt including GST rate…
DEA Secretary Anuradha Thakur NEW DELHI: Senior govt officials on Tuesday said finalisation of the India-US trade deal removed a key source of uncertainty for businesses and was expected to support exports and manufacturing, especially after months of pressure from higher tariffs.Anuradha Thakur, secretary, department of economic affairs, said the govt welcomed the finalisation of…
NEW DELHI: The India-US trade deal is unlikely to lead to a near-term reduction in India’s imports of Russian crude oil, with supplies to be stopped from sanctioned entities such as Rosneft and Lukoil.While govt is yet to comment on US President Donald Trump’s claim that India will stop Russian crude purchases, officials pointed out…
NEW DELHI: Drug makers are set to gain clarity under the proposed India-US trade agreement, sharpening expansion plans in the world’s most lucrative pharmaceutical market. While the sector was insulated from punitive US tariffs, the generics business of major companies, including Sun Pharma, Dr Reddy’s and Cipla faced significant headwinds in the third quarter ended…
PM Modi with US President Donald Trump (File photo) NEW DELHI: A day after announcements by PM Modi and US President Donald Trump that the two sides had reached a trade agreement, the govt asserted that sensitive sectors such as agriculture and dairy have been protected and labour-intensive sectors such as textiles, leather, marine products…
NEW DELHI: The focus has been on shrimps and textiles, but Indian carpets and rugs have seen a bruising year with exports slipping nearly 9% to $735 million between April and Nov. Lowering of tariffs is expected to come as a boost for the highly-labour intensive sector.While overall exports are down 4% to $1.3 billion…
A large garment exporter, who was at a party on Monday when Trump announced the removal of 50% tariffs, celebrated the news before getting on to calls with American buyers. Suddenly, the business dynamics looked different.From looking to relocate a part of ops to Sri Lanka, Kenya or Indonesia on the suggestion of US buyers,…
CHENNAI: India’s textile, apparel and leather exporters are expecting a sustained recovery in orders from the US, following tariff reductions under the proposed India–US trade deal. Industry representatives said the move will restore competitiveness, improve margins and revive volumes that were under pressure over the past year.Textile and apparel exporters are now expecting an increased…
India and the United States have agreed on a framework for a bilateral trade deal under which Washington will reduce tariffs on Indian goods to 18% from the current 50%.The announcement is significant as the US had imposed steep duties on Indian exports entering American markets, effective August 27, 2025.In August 2025, Washington announced a…
