Finance Minister Nirmala Sitharaman on Tuesday said the Goods and Services Tax (GST) reforms were planned well in advance and not a reaction to the recent 50 per cent tariffs announced by US President Donald Trump. Speaking at an NDTV summit, she clarified that the reduction and rationalisation of GST slabs, including exemptions for premiums […]
The European Union has shown green light for exports of 102 additional Indian marine establishments, offering an immediate 20% increase in shipments to the bloc, officials said.The development comes at a crucial time, as seafood exports to the EU stood at $1.1 billion in FY24, cementing the region’s role as a vital market for Indian […]
Indian equity markets fell sharply after the US President raised tariffs on Indian exports to 50 per cent in August, creating headwinds for the country’s manufacturing sector and potential economic growth. Further declines were seen due to the escalating Russia-Ukraine conflict. The fall was partially offset by expected benefits from the Prime Minister’s GST reforms, […]
China took aim at the United States on Monday, sharply criticizing its 50% tariffs on Indian imports, calling the move “unfair, unreasonable” and making it clear that Beijing firmly opposes the move.China’s ambassador to India, Xu Feihong said that Washington has long taken advantage of free trade, but is now using it as a weapon.Speaking […]
India avoided mentioning tariffs at a BRICS leaders virtual summit called by Brazil on Monday amidst steep US levies on imports distorting global economic order. Significantly, while heads of states of major countries from the ten-member bloc, including Chinese President Xi Jinping, Russian President Vladimir Putin and Brazilian President Lula da Silva, attended the important […]
File photo: Finance minister Nirmala Sitharaman (Picture credit: PTI) Finance minister Nirmala Sitharaman has said the government is preparing a comprehensive package to support Indian exporters impacted by the steep 50 per cent tariff imposed by the US. She noted that a multi-departmental exercise is underway to assess the effect on shipments.In an interview with […]
Total export value of oleoresins from India last year was around $650 million out of which 25-30 per cent is paprika oleoresin | Photo Credit: iStockphoto Close on the heels of the US tariffs hitting Indian exports, the $45 million oleoresin paprika exports from the country is likely to be at stake if the authorities […]
New Delhi: Union Finance Minister Nirmala Sitharaman | Photo Credit: PTI The government is working on a comprehensive package to support Indian exporters impacted by a steep 50 per cent tariff imposed by the US, Finance Minister Nirmala Sitharaman has said, asserting a multi-departmental engagement is underway to assess the impact on Indian shipments. In […]
The Indian apparel export sector has seen its outlook revised from Stable to Negative by rating agency ICRA, following an upward revision in US tariff rates, a move expected to dent export revenues in the coming fiscal.As per news agency ANI, ICRA stated, “Lower exports and pressure on pricing [are likely] to contract industry operating […]
V. Anantha Nageswaran, Chief Economic Advisor, Government of India | Photo Credit: BIJOY GHOSH US President Donald Trump’s 50 per cent tariffs could reduce India’s gross domestic product by half a percent this year, the nation’s Chief Economic Adviser V. Anantha Nageswaran said. “I hope the additional penal tariff is a short-lived phenomenon,” Nageswaran told […]
