India, Trump and Tariffs
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Nearly 55% of India's exports to the U.S., worth about $48 billion, faced a cost disadvantage against rivals from Vietnam, China and Bangladesh, Federation of Indian Export Organisations President S.C. Ralhan told the government, while seeking support.
India has unveiled a $5 billion plan to boost export competitiveness as it reels under punishing US tariffs. Washington has tied issues of war and peace to trade, slapping 50 percent duties on New Delhi in retaliation for its continued purchases of Russian oil.
India’s economy rebounded in September, Bloomberg Economics’ monthly GDP tracker shows — defying expectations after the US imposed 50% tariffs on Indian exports. The recovery looks durable, setting the stage for stronger growth ahead.
US President Donald Trump has now backtracked in most of the issues that gave him a decisive victory in the 2024 US Presidential elections. Trump now wants foreign students, is eager for a trade deal with India after which tariffs will also be lowered,
India's cabinet has approved spending 450.6 billion rupees (S$6.6 billion) on support for exporters, including 200 billion rupees in credit guarantees on bank loans, Information Minister Ashwini Vaishnaw said on Wednesday (Nov 12).
To create relief for the shrimp industry, the main farming state of Andhra Pradesh has slashed the power tariff for shrimp farms from about INR 4 per unit to INR 1.5 per unit
India's new Export Promotion Mission, approved with ₹25,060 crore over six years, aims to boost exports by supporting MSMEs and offering non-financial
Donald Trump's remarks on India came at a time when the US Supreme Court started hearing a case related to tariffs.
India's Tata Steel hopes the government will extend import tariffs on some steel products to guard against the threat of imports, particularly from China, chief executive T.V. Narendran told Reuters on Thursday.