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Trump tariffs deal $12-billion blow to Indian engineering exports; EEPC eyes market diversification
Economic Times
·
22d ago
Medial
Indian engineering goods exporters face a $12 billion impact from a 25% US tariff starting August 1, affecting over 60% of India's engineering shipments, primarily steel and aluminium products. The move threatens India's largest export market, spurring strategies to diversify into South America and Mexico. While industry analysts foresee shipment declines, EEPC actively explores risk mitigation. Exporters are advised caution until further clarity on penalties and potential trade agreements emerges.
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Tariff to have negligible impact; diversification remains key: PHDCCI
Economic Times
·
17d ago
Medial
The 25% US tariffs on Indian imports, announced by President Trump, are expected to have a minimal impact on India's GDP, affecting only 1.87% of India's global merchandise exports and 0.19% of GDP, according to PHDCCI. The organization recommends diversifying trade agreements to mitigate geopolitical uncertainty and protectionism. While some export sectors may feel the pinch, overall macroeconomic stability can be maintained through strategic market diversification and value addition.
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India offered US a deal, basically zero tariffs, says Donald Trump
Economic Times
·
3m ago
Medial
In a significant development, US President Donald Trump announced that India has proposed a trade deal offering zero tariffs on a wide range of American products. Both nations are engaged in high-level trade negotiations to resolve tariff issues. India aims to reduce average tariffs from 13% to under 4% and seeks US tariff exemptions in return. Recently, the US temporarily suspended additional tariffs on Indian exports, fostering positive trade discussions.
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Mission 500: Donald Trump, PM Modi agree to double bilateral trade to $500 bn by 2030, sources to BT
Business Today
·
5m ago
Medial
Donald Trump and PM Modi have agreed to increase bilateral trade between the U.S. and India to $500 billion by 2030. This agreement does not involve any commitment from India regarding trade tariffs. In the fiscal year 2023-24, the U.S. was India’s largest export market, accounting for 17.74% of India’s total exports, with Indian exports to the U.S. totaling $77.52 billion.
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Donald Trump tariffs marginally favourable for Indian smartphone exports: Crisil
Economic Times
·
4m ago
Medial
US tariffs, particularly those initiated by President Donald Trump, may slightly benefit India's smartphone exports. While U.S. tariffs on Chinese imports stand at 245%, Indian exports face a lower tariff of 26%. This could make Indian-made smartphones more competitive, despite being priced higher than Chinese ones. However, such tariffs may increase U.S. inflation and push global manufacturers to seek markets with lower tariffs, potentially impacting India's export boost in the longer term.
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Textiles minister sets up 4 committees on market diversification
Economic Times
·
10d ago
Medial
The Indian textile industry aims to achieve $100 billion in exports by 2030 despite global challenges and steep US tariffs. To support this goal, Textiles Minister Giriraj Singh has established four committees focused on market diversification, fiscal measures, structural reforms, cost competitiveness, and innovation. The committees will provide recommendations on enhancing the textile sector's global trade strategy. Additionally, India is negotiating a free trade agreement with the EU, which imports textiles worth $268.8 billion annually.
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Trump Secures Historic $550B Trade Deal With Japan: Big Boost for US Auto, Agriculture Sectors
StartupTalky
·
1m ago
Medial
Former President Donald Trump announced a historic $550 billion trade agreement with Japan, enhancing U.S. auto and agriculture exports. The deal involves Japan investing billions in the U.S., with American imports to face a 15% tariff. Key agreements include lowered tariffs on U.S. cars and agricultural products entering Japan, although Japan maintains its tariff levels. Following the deal, Japan's stock market surged while its political leader, Shigeru Ishiba, faces challenges after election losses.
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India facing tough choices in responding to steep US tariffs: GTRI
Economic Times
·
8d ago
Medial
India faces critical trade decisions due to steep US tariffs, including negotiation, retaliation, market diversification, or offering trade concessions such as ending Russian oil imports. Each option presents distinct advantages and risks. India's strategic dilemma, heightened by Trump administration's tariffs on Indian goods, demands structural reforms and aggressive diplomacy to mitigate challenges. GTRI highlights potential gains from maneuvering these options over time, emphasizing the importance of strategic choices in economic confrontations.
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India-UK FTA signed: Whisky, EVs, cosmetics and jewellery to get cheaper — Here’s what each side gets
Economic Times
·
1m ago
Medial
India and the UK have signed a Free Trade Agreement (FTA) promising duty-free access for 99% of Indian exports, including engineering goods, chemicals, and pharmaceuticals. Indian consumers will benefit from reduced tariffs on UK imports like Scotch whisky and electric vehicles. The FTA aims to boost bilateral trade by $34 billion, fostering economic cooperation with tariff cuts, enhanced mobility for professionals, and expanded market access. Additionally, the UK secures access to India's government procurement market.
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India, UK start a new chapter with FTA
Economic Times
·
29d ago
Medial
India and the UK signed a Comprehensive Economic and Trade Agreement (CETA) aiming to double trade to $100 billion by 2030. The agreement, marking India's 16th trade pact, removes duties on Indian exports like leather and clothing, while UK imports like whisky and cars get reduced tariffs. The deal, signed amidst Brexit, enhances trade prospects, provides duty-free access for Indian agricultural products, and boosts shared opportunities in several sectors.
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India risks 1% GDP hit as Trump slaps 50% tariffs over Russian oil
Economic Times
·
16d ago
Medial
India's GDP growth could drop by 1% as the U.S. under Trump doubles tariffs on Indian goods to 50%, targeting India's Russian oil purchases. These tariffs threaten exports, especially to the U.S., India's largest market, impacting sectors like textiles and electronics. The Reserve Bank of India's growth forecast may decline, while new markets are being explored. Analysts warn of a potential 1.1% GDP hit if additional sector tariffs emerge, urging policy responses.
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