Business
Trump Tariffs Shock Governments, Investors Across World
FRANKFURT: United States President Donald Trump’s sweeping new tariffs on American imports shocked governments and investors around the world, swiftly spurring both threats of retaliation and calls for negotiation as industries scrambled and global stocks tumbled. China accused the US of “bullying” and the European Union promised “robust” countermeasures,...
Exporters Start Talks With Buyers On US Tariffs
With the US announcing 26 per cent additional import duties on Indian goods from April 9, domestic exporters on Friday said they have started talks with their American buyers on ways to absorb these heavy taxes. According to them, communications between the Indian suppliers and American buyers have already...
LIC Rejects US Trade Representative’s Report
NEW DELHI: Life Insurance Corporation of India (LIC) on Friday said it has been operating in a competitive market for 25 years and has not received any special treatment from the government, as it rejected US Trade Representative’s report. “We firmly believe the USTR’s views are based on an...
Mixed Bag For India As US President Donald Trump Unleashes Tariff War
NEW DELHI: US President Donald Trump on Thursday unveiled his promise of reciprocal tariffs on trading partners, stressing this was a kinder reciprocity as it amounted to only half of the levies US goods faced. This included a 27 per cent additional tariff imposed on imports from India as...
India Urges BRICS To Mobilise $1.3 Trillion To Achieve Climate Goals
NEW DELHI: India on Thursday urged the Brics (Brazil, Russia, India, China and South Africa) to mobilise $1.3 trillion to strengthen climate financing mechanisms and achieve global sustainable commitments. Stressing the urgent need for equitable carbon budget utilisation, India, at the 11th Brics Environment Ministers’ meeting in Brazil, focused...
Experts See Tough Negotiations With US On Non-Tariff Barriers
NEW DELHI: With the US Trade Representative (USTR) report highlighting India’s non-tariff barriers across multiple sectors, experts caution that any relaxations in government procurement, intellectual property (IP), and data localisation should be weighed carefully, keeping the interests of the domestic industry in mind. Ahead of the reciprocal tariff imposition...
Indian Textile Exporters To Get An Edge Over Key Competitors
NEW DELHI: US President Donald Trump’s decision to impose universal reciprocal tariffs on imports has given India’s textile industry—especially apparel exporters—an edge over competitors like Vietnam, Bangladesh, and China, which face even higher tariffs. The Trump administration on Thursday announced a flat 27% tariff on Indian goods with some...
Lenders Urge RBI To Return To Daily Overnight Borrowing Window To Improve Liquidity
MUMBAI: Lenders want the central bank to move back to the daily overnight borrowing window as the main cash management tool to help improve overall systemic liquidity – a prerequisite for quicker transmission of reductions in policy rates. Bankers made this request to the Reserve Bank of India (RBI)...
Rupee Pares Initial Losses, Settles 22 Paise Up At 85.30 Against US Dollar
MUMBAI: The rupee pared its initial losses and settled for the day higher by 22 paise at 85.30 (provisional) against the US dollar on Thursday as the greenback weakened against its major peers after President Donald Trump unleashed reciprocal tariffs on about 60 countries. The domestic unit had witnessed...
Vigilance Department Helps Prevent Revenue Leaks In Northern Railways
NEW DELHI: The Northern Railway Vigilance Department has made commendable achievements towards maintaining transparency, avoiding malpractices, and strengthening financial integrity in the year 2024-2025 like previous years. With the help of advanced technology and persistent investigation, the department was able to overcome growing challenges, maintain accountability, and safeguard the...
US Retaliatory Tariffs Major Setback For Indian Gems, Jewellery Exports: Industry
MUMBAI: The US retaliatory tariffs are a major setback for the Indian gems and jewellery exports, apex industry body GJEPC said on Thursday as it urged the Union Government to take steps to secure the long-term interests of the sector. The US has announced 27 per cent reciprocal tariffs...
Indian IT Services To Be Directly Hit By US Tariffs
NEW DELHI: Export-led Indian IT sector will not be directly hit by US President Donald Trump’s tariff order on goods, but there could be worrisome indirect bearings on it due to possible slowdown in decision-making and GDP growth in America due to higher tariffs, which may then cloud the...
No Fee To Be Charged For Updation Of Nominees For PPF Accounts: FM
NEW DELHI: Finance Minister Nirmala Sitharaman on Thursday said no fee will be charged for the updation or addition of nominees for Public Provident Fund (PPF) accounts as the government has done necessary changes through notification. Recently, it was informed that a fee was being levied by financial institutions...
USTR Report Turns Up The Heat On India On Trade And Tariff Issues
NEW DELHI: Ahead of the imposition of reciprocal tariffs on April 2, the United States has raised concerns over India’s high import tariffs in key sectors, such as automobiles, agricultural goods, medicines, and alcohol. It also flagged what it described as “sudden” tariff changes and regulatory hurdles that act...
Project Capex Intent Falls To A 3-Year Low In FY25
MUMBAI/NEW DELHI: The wait for a new capex cycle only appears to get longer. The value of new projects announced by the private sector was up just 3.3% on year in the March quarter, causing its share in all projects unveiled to decline to 69% from around 82% in...
100% FDI In Insurance A Step Forward, But Safeguards Unclear: USTR Report
MUMBAI: While India has announced raising the cap on foreign direct investment (FDI) in insurance from 74 per cent to 100 per cent, it remains unclear whether certain safeguards for domestic firms introduced in 2021 will be removed, says a report by the Office of the United States Trade...
Banking Liquidity Turns Positive After Three Months
MUMBAI: The Reserve Bank of India’s aggressive fund infusion in the past few months is beginning to show results, as the banking system’s liquidity position turned surplus at the end of March — the first time in three months. The banking system’s liquidity stood at a surplus of Rs...
India Can Still Be Competitive Despite Reciprocal Tariffs: PwC Report
NEW DELHI: US tariffs on Chinese goods could create new opportunities for Indian exporters, particularly in electronics, textiles, and engineering goods, where Indian businesses may remain competitive even after reciprocal tariffs, according to a PwC report. In the booming smartphone export sector, even if Indian smartphone imports into the...
