GTRI
GST 2.0: Tax cuts offer hope, but not a cure for Trump’s 50% tariff blow to exporters
The GST Council, chaired by Finance Minister Nirmala Sitharaman, on Wednesday rationalised the tax structure by moving most items from the 12% and 18% brackets to 5%.
India seeks WTO consultations with US over 50 pc duty on copper
India has initiated discussions with the United States regarding tariffs on copper. This action follows India's reservation of rights to impose retaliatory duties. The US imposed a 50 percent tariff on certain copper imports. India considers this a safeguard measure and seeks consultations under WTO rules. Trade negotiations between India and the US are currently paused.
S, C, O — PM Modi’s three-letter message at China summit that packs a punch
At the SCO Summit, Prime Minister Narendra Modi outlined India's regional strategy. It focuses on security, opportunity, and connectivity. Modi stressed the importance of combating terrorism and fostering trust in connectivity projects. He highlighted initiatives like Chabahar and INSTC. India aims to strengthen ties with Central Asia and Russia. Trade relations with China and Russia are also discussed.
India–China trade grows, but Beijing has a benefit
India-China bilateral trade is growing, but a significant trade deficit favoring China persists, raising concerns about economic dependence. India's exports to China are declining, while reliance on Chinese imports across various sectors deepens. The government is implementing measures like production-linked incentives and stricter quality controls to reduce import dependence and protect domestic industries.
Govt should consider Rs 2,500 cr to exporters for participation in global exhibitions: GTRI
GTRI expresses worry about declining export promotion funds. They urge the government to allocate Rs 2,500 crore for global exhibitions. The think tank also calls for IES resumption and E-commerce Export Hubs. They suggest speeding up Customs and simplifying schemes. Export promotion funding has weakened support for small exporters. GTRI suggests allocating higher amounts to broad-based export schemes.
It's not just about Russian oil, stupid!
India opted to pay a 25% tariff on US exports instead of stopping Russian oil imports. This decision stems from international politics and strategic negotiation. India believes the US penalty aims to force trade concessions, not just cut off Russia's funding. Refiners are profitable and can handle higher crude costs.
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Trump’s 50% tariff shock hits India – what it means for growth, jobs, and hardest-hit sectors
Trump India Tariffs Impact: US 50% tariffs on Indian exports take effect tomorrow, targeting textiles, seafood, gems, jewellery, and leather. Analysts warn the move could threaten millions of jobs and shave 0.5% off India’s GDP.
India's huge domestic consumption can offset export losses to US: GTRI
With the US imposing 50% tariffs, India faces challenges for its US-oriented exporters. GTRI suggests boosting domestic consumption and pursuing FTAs with other nations like the EU and Peru to offset potential losses. While sectors like textiles and jewelry may suffer, negotiations with the US remain paused, not terminated, offering hope for future resolution.
"PM Modi, Trump have close partnership, hopeful will find a way of concluding FTA with US," says former FS Harsh Shringla as 50% tariff kicks in
Harsh Vardhan Shringla expresses optimism about a mutually beneficial FTA with the US, highlighting the strong relationship between PM Modi and former President Trump. Despite new 50% tariffs on Indian goods, Shringla emphasizes minimizing impact through alternative markets like the UK and UAE. India is also focusing on developing its semiconductor and rare earth mineral capacities through international collaborations.
What does Trump’s 50% tariff mean for Indian exporters?
New US tariffs on Indian imports have taken effect, potentially raising duties to 50% on certain goods. The move follows stalled trade talks, with disagreements over agriculture, dairy, and India's increasing Russian oil imports cited as key factors. India is promising financial aid to affected sectors and seeking to diversify exports, while trade discussions with the US continue.
US tariffs result of Modi govt's superficial foreign policy, will lead to huge job losses: Kharge
Congress leader Mallikarjun Kharge criticizes Modi government as US tariffs on India take effect. Kharge claims the tariffs, especially on cotton, will hurt farmers and cause job losses. He estimates a significant impact on India's GDP. Kharge blames Modi's foreign policy for failing to secure a trade deal. US imposed additional tariffs due to India's purchase of Russian oil.
India's Russian oil gains wiped out by Trump's tariffs
India's increased Russian oil imports, saving billions, now face disruption due to new U.S. tariffs, potentially slashing exports and impacting jobs. This strains the delicate balance between India's vital partnerships with both Russia and the U.S., forcing a recalibration of its foreign policy amid geopolitical pressures and economic concerns. The situation could also embolden China as a counterbalance.
Trump’s 50% tariff shock hits India: New Delhi faces one of its toughest trade blows in years
Indian exporters are reeling from a significant trade blow as the US imposed a cumulative 50% tariff on key Indian goods, effective August 27, 2025. This action, linked to India's Russian oil and defense equipment purchases, could slash Indian exports to the US by 43%, impacting sectors like textiles and seafood.
US tariff hike on Indian exports reflects geopolitical pressure, not economic rationale: XLRI Professor
A US tariff hike of 50% on Indian exports, linked to discounted Russian oil imports, is seen as geopolitical pressure, says XLRI's Professor Tripathy. This move could significantly disrupt trade, erode India's competitiveness, and redistribute market share to countries like Vietnam and Mexico.
India's labour intensive sectors brace for 70% export collapse as US goes ahead with 50% tariffs: GTRI
Indian labour-intensive sectors anticipate a significant export decline due to impending US tariffs. The new tariffs, effective from August 27, could impact 66% of India's exports. Textiles, gems, jewellery, and shrimp exports are particularly vulnerable. The government is urged to implement tax reforms and support schemes for MSMEs.
Is India the lever that keeps China in check for Washington?
Nikki Haley warns that strained US-India relations would strategically harm Washington. India is crucial for containing China's rise. Without India, the US loses influence in Asia. India's manufacturing, location, and military can challenge China. Haley suggests India can replace China in global supply chains. Trade disputes risk pushing India closer to Russia or China.
China's easing of export curbs useful, but self-reliance India's only shield amid trade deficit: GTRI
China is easing export restrictions to India. This includes fertilizers and rare earths. However, a report suggests India's trade deficit with China is a concern. It reached USD 100 billion. The report advises India to focus on self-reliance. This involves boosting domestic manufacturing. It also involves reducing import dependence. This will help India engage with China on equal terms.
India-China bonhomie owes much to Trump’s push
India and China are cautiously recalibrating trade ties, with Beijing lifting export restrictions on key materials. This follows recent diplomatic talks and signals a pragmatic approach to cooperation amidst global uncertainty. While both nations are easing visa restrictions and discussing direct flights, significant challenges remain.
Govt exempts import duty on cotton in temporary relief for garment industry
The Indian government has exempted import duty on cotton from August 19 to September 30 to ease supply shortages and support the textile sector. Industry leaders had advocated for the removal of the 11% duty, both to lower input costs and as a strategic tool in trade negotiations with the US.
Safeguard import duties on steel could cripple auto, engineering, and construction sectors: GTRI
A three-year safeguard duty on steel imports, initiated by DGTR due to increased imports and declining domestic profits, faces strong opposition. GTRI's report suggests this duty could negatively impact auto, engineering, and construction sectors by raising input costs. Stakeholders argue that the duty will harm export competitiveness and create sourcing challenges, despite domestic steelmakers' profitability.
Commerce ministry recommends safeguard duty on imports of certain steel items for 3 years
The DGTR has recommended a safeguard duty on certain flat steel imports for three years to protect domestic manufacturers from a surge in inbound shipments. This decision follows a probe initiated by the Indian Steel Association, citing a significant increase in imports causing injury to the domestic industry.
Some companies misuse duty-free import scheme: GTRI calls it 'licence to loot'
The Duty-Free Import Authorization (DFIA) scheme, intended to lower exporter costs, is reportedly being exploited, becoming a "license to loot" due to unclear policies and weak enforcement. GTRI urges immediate government intervention, advocating for a forensic audit of past licenses and duty recovery to restore faith in India's export incentives and prevent honest exporters from being driven out of business.
India facing tough choices in responding to steep US tariffs: GTRI
India faces a challenging trade situation following the US imposing steep tariffs on its goods, according to GTRI. The nation is weighing options like negotiation, retaliation, diversifying export markets, or offering trade concessions such as ending Russian oil imports.
Trump is aiming for Pakistan-style compliance from India, but his plan is not working
Amidst rising tensions, the US-India trade relationship faces turbulence as Trump's administration imposes tariffs, allegedly to pressure India on geopolitical issues like Russian oil imports. India views these actions as an infringement on its sovereignty, resisting demands to compromise on agriculture, patent laws and military sourcing.
Status of US team visiting India for trade talks to be known closer to scheduled date: Commerce Secy
India awaits confirmation on the US delegation's visit for trade talks scheduled for August 25, amidst ongoing negotiations for a bilateral trade agreement. Despite US tariffs and concerns from Indian exporters, both nations remain engaged in discussions at multiple levels, aiming to significantly increase bilateral trade by 2030.
Former NITI Aayog VC Rajiv Kumar urges lifting curbs on Chinese investments in India
Rajiv Kumar advocates for lifting restrictions on Chinese investments to boost Indian manufacturing and employment, highlighting China's significant role as a global investor. Despite strained relations, India and China are taking steps to improve bilateral ties.
Shrimp, organic chemicals, apparel, jewellery exports may dip 50-70% due to Trump tariff: GTRI
A new 50% US tariff on Indian goods, effective August 27, is projected to severely impact exports across nine key sectors, including shrimp, chemicals, apparel, and jewelry. This decision, Trump's so-called penalty for India's Russian oil purchases, positions India among the most heavily taxed US trading partners, potentially causing a 50-70% export decline in the most affected sectors.
Trump tariffs may impact India's 40-50% exports to US: GTRI
The US has imposed a 25% additional tariff on Indian imports, raising the total duty to 50% in response to India's continued purchase of Russian oil. This move, effective August 27, could slash India's exports to the US by 40-50%.
Trump unwilling to criticize China even after being largest Russian oil buyers, targets India unfairly: GTRI report
A recent report by the Global Trade Research Initiative (GTRI) indicates that US President Donald Trump is unfairly targeting India over Russian oil imports while overlooking China, the largest buyer. The report refutes Trump's claim that India is reselling Russian oil for profit, clarifying that India exports refined petroleum products, not crude oil.
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