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Meity in touch with commerce ministry to find way around Trump tariffs
Economic Times
·
5m ago
Medial
Facing potential US tariffs, India's electronics and IT ministry is in talks with the commerce ministry to address reciprocal trade issues, potentially lowering duties on US smartphone imports. This move is amidst stakeholder consultations and industry recommendations to eliminate duties on US-imported electronics. The US market is vital for India's export growth, yet impending reciprocal tariffs could impact competitiveness, pushing global supply chains away from India if not addressed. India's electronics exports heavily rely on tariff-free access to the US market.
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Related News
MeitY wants tariff shield for electronics exports - The Economic Times
Economic Times
·
10d ago
Medial
India is seeking a tariff shield for its electronics exports, primarily reliant on the US market, to avoid being grouped with major exporters like China. The Ministry of Electronics and Information Technology (MeitY) has urged the Commerce Department to advocate for more favorable tariffs amid ongoing US-India trade discussions. India aims to enhance its burgeoning electronics sector under government support, overcoming potential tariff barriers that may arise from US trade policies targeting exports from Asia.
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US to release result of probe into chip imports in two weeks - The Economic Times
Economic Times
·
12d ago
Medial
The Trump administration is preparing to announce the results of a national security probe into semiconductor imports, potentially leading to tariffs. President Trump suggested companies, including those from Taiwan, might invest in U.S. manufacturing to avoid tariffs. A new U.S.-EU trade framework includes tariffs on imports, with autos facing even higher rates. The investigation could pave the way for new tariffs on imports of pharmaceuticals and semiconductors, similar to previous tariffs on steel, aluminum, and the auto industry.
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Indian electronics firms better placed to weather tariffs storm: MeitY secretary
Economic Times
·
4m ago
Medial
India’s electronics industry holds a favorable position amid the Trump administration’s reciprocal tariffs, according to MeitY Secretary S Krishnan. Although local manufacturers haven't raised concerns, the government is prepared for scenarios involving Chinese goods' dumping. Discussions are underway regarding tariffs and a bilateral trade agreement with the US. Cybersecurity remains a priority with a 175% rise in BFSI sector phishing attacks, prompting a focus on local cybersecurity initiatives.
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Govt May Extend Existing Import Regime For Hardware Products
Inc42
·
10m ago
Medial
The Ministry of Electronics and Information Technology (MeitY) has proposed extending the import authorisation regime, but the Ministry of Commerce has not made a decision yet. This comes after discussions about implementing a stricter regime for seven IT hardware items. The import of these items declined by 3.4% year-on-year to $8.4 billion in the fiscal year 2023-2024.
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India’s AI Regulations Won’t Deter Innovation: MeitY Secretary
Inc42
·
1y ago
Medial
The Ministry of Electronics and Information Technology (MeitY) in India plans to regulate artificial intelligence (AI) in a way that encourages innovation while also protecting vital interests. The ministry will follow a similar approach used in framing the Digital Personal Data Protection Act to develop AI regulations. By entering AI regulations later, India hopes to learn from the mistakes made by other countries in implementing AI regulations. Concerns about the potential impact of AI on job losses were also highlighted, with retraining and upskilling efforts considered necessary to protect India's workforce.
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China defends Russian oil buys after Trump's tariff threats
Economic Times
·
14h ago
Medial
China defended its Russian oil purchases as legitimate, countering U.S. scrutiny after India faced secondary sanctions for similar transactions. The Chinese Foreign Ministry emphasized their lawful energy trade with Russia, stating they will prioritize national interests. President Trump hinted at imposing additional tariffs on China, similar to India's situation. Despite this, U.S.-China relations have slightly stabilized, with both nations agreeing to pause tariffs and continue negotiations toward a potential deal.
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ONDC Partners MeitY’s Common Service Centres To Take Ecommerce To Rural Areas
Inc42
·
1y ago
Medial
The Open Network for Digital Commerce (ONDC) has partnered with the Ministry of Electronics and Information Technology’s (MeitY) Common Service Centres (CSC) to expand e-commerce services to rural areas in India. Through this collaboration, CSC's e-Grameen will join ONDC as a buyer application, enabling rural citizens to access essential e-commerce services. The partnership aims to empower local entrepreneurship and increase e-retail penetration in remote parts of the country. Currently, there are over 5.9 Lakh CSCs across India, with over 4.68 Lakh in rural areas.
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Indian team in Washington; trade talks to begin Monday: Official
Economic Times
·
25d ago
Medial
An Indian commerce ministry team is in Washington for trade talks on a proposed bilateral trade agreement with the U.S. Negotiations will focus on resolving issues in agriculture, automobiles, and tariffs. India seeks to ease U.S. tariffs on steel, aluminum, and autos, while the U.S. requests duty concessions on dairy and industrial goods. The goal is to conclude the agreement's first phase by fall, with the talks running through Thursday.
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Global giants take AIm at India’s GPU ambition
Economic Times
·
11m ago
Medial
Top chip companies, cloud giants, and cybersecurity firms have expressed interest in India's Rs 10,000 crore graphics processing units (GPUs) procurement tender for the country's Artificial Intelligence Mission. Companies such as Nvidia, Intel, Microsoft Azure, Amazon Web Services, and Palo Alto Networks attended a pre-bid meeting. The ministry of electronics and information technology (MeitY) received around 500 suggestions on the tender and plans to extend the bidding deadline by two weeks. One of the concerns raised was that the tender favors big companies, but MeitY assured equal opportunities for small and large players.
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Will a bilateral trade deal between India and the US help against reciprocal tariffs?
Business Today
·
4m ago
Medial
A potential bilateral trade deal between India and the US is anticipated to mitigate reciprocal tariffs, with Indian exporters hopeful for its success. The Confederation of Indian Textile Industry has proposed a zero-tariff agreement for textiles and apparel. India's commerce ministry is consulting various stakeholders to identify sectors and products where lower tariffs could be offered to the US, potentially easing trade tensions and fostering economic collaboration between the two nations.
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