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New Delhi [India], September 13 (ANI): Home textile manufacturers are bracing for a 5-10 per cent decline in revenue, apart from reduction in operating profitability, as the 50 per cent tariffs imposed by the US came into effect on August 27, Crisil Ratings said in a report. Exports of home textiles account for about three quarters of the industry's revenue. Also Read | Solar Eclipse 2025 Date and Time in India: Can You Have Sex During Surya Grahan? Exploring the Myths and Superstitions vs Rea ...Read More >
New Delhi [India], September 13 (ANI): Home textile manufacturers are bracing for a 5-10 per cent decline in revenue, apart from reduction in operating profitability, as the 50 per cent tariffs imposed by the US came into effect on August 27, Crisil Ratings said in a report. Exports of home textiles account for about three quarters of the industry's revenue. The report noted that three key factors could help cushion the impact: strong frontloading of sales between April and August 2025; limite ...Read More >
Speaking at the 65th Annual Convention of ACMA, the Commerce Minister said that the latest GST reform will help formalise the spare parts sector economy. The recent reduction of GST on auto parts from 28 per cent to 18 per cent is the biggest indirect tax reform since Independence, Union Commerce and Industry Minister Piyush Goyal said at the ACMA Annual Conclave 2025. "Reducing GST from 28 per cent to 18 per cent is a parting gift to the industry. This is the biggest reform since Independence ...Read More >
The US president's remarks come as he pressures EU leaders to join him in punishing India and China for buying Russian oil US President Donald Trump said he intends to speak to Indian Prime Minister Narendra Modi "in the coming weeks" and expressed optimism that the two leaders would be able to reach an agreement to resolve a blistering trade fight. "I am pleased to announce that India, and the United States of America, are continuing negotiations to address the Trade Barriers between our two ...Read More >
Mumbai: Equity benchmark indices Sensex and Nifty surged on Friday in line with a global market rally amid rising hopes that the US Federal Reserve will cut interest rates next week. Optimism over a successful conclusion of India-US trade talks has also fuelled a rally in markets. Rallying for the fifth day in a row, the 30-share BSE Sensex jumped 355.97 points or 0.44 per cent to settle at 81,904.70. During the day, it surged 444.12 points or 0.54 per cent to 81,992.85. The 50-share NSE Nifty r ...Read More >
Sept 12 (Reuters) - The Nasdaq notched a record high close on Friday in a mixed trading session, lifted by Microsoft as investors looked ahead to the Federal Reserve's policy meeting next week, when it is widely expected to cut interest rates to counter a slowdown in the jobs market. Fueled by Tesla and other technology-related stocks, the Nasdaq added to a rally in the previous session that saw all three indexes hit all-time highs. Investors are laser-focused on the Fed's meeting on Tuesday a ...Read More >
NEW DELHI: India and the European Union are well on track to meet their year-end deadline for concluding free trade agreement negotiations, with both sides expressing confidence about the partnership's mutual benefits, senior officials said on Friday. Union commerce minister Piyush Goyal said India would benefit from Europe's "technology and innovation", while the EU would gain from India's "growth story, scale, and resilience" as the 13th round of FTA talks continued in New Delhi. "Both India ...Read More >
NEW DELHI, Sept 12 (Reuters) - Trade talks between India and the European Union have entered a crucial phase and negotiators are working intensively to meet a year-end deadline for signing the free trade pact, a top European Union Official said on Tuesday. The EU is India's biggest trading partner in goods, with bilateral trade hitting $137.5 billion in the 2023/24 fiscal year, up nearly 90% over the past decade. "We are now maximising our efforts to finalise negotiations by the end of the yea ...Read More >
NEW DELHI, Sept 11 (Reuters) - India's Adani group has stopped accepting vessels that are sanctioned by the European Union, U.S. and Britain at all of its ports, sources said and orders issued by Adani Ports and Logistics show. No immediate comment was available from Adani. Adani, which operates 14 ports, has issued multiple orders with similar contents. "To safeguard the legal and commercial interests of the Port, we hereby emphasize that sanctioned vessels are not accepted," it said in the ...Read More >
Prime Minister Narendra Modi and Italian Prime Minister Giorgia Meloni discussed the India-EU free trade agreement, with Modi thanking Meloni for her support. They also addressed the Ukraine conflict and the implementation of the India-Middle East-Europe Economic Corridor. Both leaders reaffirmed their commitment to strengthening the India-Italy Strategic Partnership. Prime Minister Narendra Modi on Wednesday discussed with his Italian counterpart Giorgia Meloni the proposed free trade agreemen ...Read More >
US President Donald Trump has acknowledged that his decision to impose tariffs on India over its purchase of Russian oil has strained ties with New Delhi. "Look, India was their biggest customer. I put a 50 per cent tariff on India because they're buying oil from Russia. That's not an easy thing to do. That's a big deal and it causes a rift with India," Trump said in an interview with 'Fox and Friends' on Friday when asked what clamping down on Russian President Vladimir Putin involves. "But I ...Read More >
New Delhi [India], September 12 (ANI): Vivek Vikram Singh, Managing Director and Group CEO of Sona Comstar, has urged the government to hold discussions with China to address the supply constraints around rare earth metals that are vital for the auto component industry. 'We need solutions. The government should talk to the Chinese side and get rid of these rare earth export controls. The interim solution (using rare-earth-free magnets) is not the best solution. This affects us and our customers ...Read More >
New Delhi [India], September 12 (ANI): Union Commerce and Industry Minister Piyush Goyal on Friday lauded the relations between India and the European Union, stating that both sides "complement" each other rather than competing with each other. Goyal was speaking at the ACMA's 65th Annual Session and was addressing the issue of the India-EU Foreign Trade Agreement. He said that it is essential to expand trade between India and Europe while reflecting on EU President Ursula von der Leyen's quot ...Read More >
New Delhi, Sep 12 (PTI) India and the European Union (EU) are now maximising their efforts to finalise negotiations for a proposed free trade agreement by the end of this year, with both sides stressing their commitment to a comprehensive and balanced pact to benefit businesses and consumers. The official team of India and the EU are engaged in the 13th round (September 8-12) of negotiations for the agreement here. EU Trade Commissioner Maros Sefcovic and the European Commission's Agriculture ...Read More >
Thiruvananthapuram, Sep 12 (PTI) Kerala Minister for Fisheries Saji Cherian on Friday said representatives from 29 European countries are expected to attend the two-day Blue Economy conclave, scheduled for September 18-19. The conclave, titled 'Blue Tides-Two Shores, One Vision', is being organised by the Kerala Fisheries Department in collaboration with the Government of India and the European Union (EU). Cherian said representatives from 17 European countries, including the EU Ambassador to ...Read More >
NEW DELHI - Trade talks between India and the European Union have entered a crucial phase and negotiators are working intensively to meet a year-end deadline for signing the free trade pact, a top European Union Official said on Tuesday. The EU is India's biggest trading partner in goods, with bilateral trade hitting $137.5 billion in the 2023/24 fiscal year, up nearly 90% over the past decade. "We are now maximising our efforts to finalise negotiations by the end of the year," Maros Sefcovic, ...Read More >
New Delhi [India], September 12 (ANI): India and the European Union are working with sincerity and commitment to finalise a comprehensive and balanced Free Trade Agreement that will benefit businesses and consumers on both sides, said Union Minister of Commerce and Industry Piyush Goyal, addressing the 65th Annual Session of the Automotive Component Manufacturers Association (ACMA) on Friday. According to a statement from the commerce ministry, Minister Goyal noted that such an agreement cannot ...Read More >
NEW DELHI (Reuters) -Trade talks between India and the European Union have entered a crucial phase and negotiators are working intensively to meet a year-end deadline for signing the free trade pact, a top European Union Official said on Tuesday. The EU is India's biggest trading partner in goods, with bilateral trade hitting $137.5 billion in the 2023/24 fiscal year, up nearly 90% over the past decade. "We are now maximising our efforts to finalise negotiations by the end of the year," Maros ...Read More >
New Delhi: India and the European Union are working with sincerity and commitment to finalise a comprehensive and balanced free trade agreement that will benefit businesses and consumers on both sides, Commerce and Industry Minister Piyush Goyal said on Friday. Addressing the Automotive Component Manufacturers Association (ACMA) here, he said such an agreement cannot be a one-sided arrangement, as every negotiation involves a certain degree of give and take to ensure fairness and balance. Goya ...Read More >
New Delhi, Sep 12 (UNI) The European union and India are maximising their efforts to finalise negotiations on the FTA by the end of the year, said Maroš Šefčovič, EU Commissioner for Trade and Economic Security here today. Addressing the 65th Annual Session of the Automotive Components Manufactures Association of India, alongside Commerce Minister Piyush Goyal, Sefkovic said he has been working intensively with Minister Goyal, alongwith their teams, "to make progress on a groundbreaking Free Tr ...Read More >
Piyush Goyal urges industry to pass on GST reduction benefits to consumers, anticipating boosted demand, exports, and economic growth. GST reforms, effective September 22, are expected to lower input costs for MSMEs and exporters, reducing inflationary pressures. India is also diversifying export markets amid US tariffs, exploring opportunities with countries like UAE and Singapore. Commerce and industry minister Piyush Goyal said he has asked industry to pass on the benefits of lower goods and ...Read More >
NEW DELHI: The mounting weight of US and European Union sanctions has begun to badly hit the Indian economy, with the country's vital energy sector now reeling under Western pressure. What started as Washington's punitive action against Russian-linked businesses has now been reinforced by Brussels, dealing a severe blow to India's oil imports and economic stability. Nayara Energy, a key Indian private refiner with Russian investment ties, has been thrust into the firing line. Following the EU' ...Read More >
New Delhi: Amid trade war with the US, Germany believed that India can play an important role in restoring peace in Europe. German Foreign Minister Johann Wadephul, who arrived in Delhi on a two-day visit to India had a deep discussion on global challenges and expressed confidence in doubling the trade between India and Germany. Wadephul said that a free trade agreement between India and the European Union could be reached in the coming months. Without naming the US, he said, "If other countrie ...Read More >
New Delhi [India], September 3 (ANI): There are significant and far-reaching changes on the global strategic landscape and a lot of volatility on the global economic landscape, External Affairs Minister S Jaishankar said on Wednesday, and said these together make a very powerful case for India and the European Union and India and Germany to work much more closely with each other. Jaishankar, who addressed a press conference with visiting German Foreign Minister Johann Wadephul, said India has i ...Read More >
NEW DELHI (AP) -- German Foreign Minister Johann Wadephul urged India to press its close ally Russia to return to peace talks over the war in Ukraine, days after Indian Prime Minister Narendra Modi met Russian President Vladimir Putin at a regional summit in China. Wadephul told a news conference Wednesday that despite enormous efforts by Europe and the United States, Russia hasn't been willing to enter negotiations, a challenge New Delhi could possibly address. "The only demand is that weapon ...Read More >
NEW DELHI, Sept 1 (Reuters) - India is not "profiteering" from Russian oil imports and its purchases have stabilised markets while keeping prices from rising to as much as $200 a barrel, Hardeep Singh Puri, country's oil minister, said in the Hindu newspaper on Monday. The U.S. has targeted India for its Russian oil purchases, with President Donald Trump imposing tariffs on Indian exports to the U.S. to discourage the country's crude buying. Treasury Secretary Scott Bessent accused India of pr ...Read More >
Amidst US criticism over Russian oil imports, India's Oil Minister Hardeep Puri defended the country's energy strategy, arguing that it stabilises global markets and prevents price surges. Puri refuted claims of undermining sanctions, highlighting adherence to international rules and legal transactions. Amid continuing criticism of India by Trump and his officials over oil purchases from Russia, Oil minister Hardeep Puri on September 1 came up with a strong rebuttal, countering US rhetoric with ...Read More >
(Bloomberg) -- Oil fell as traders looked past US efforts to force India to quit buying Russian crude, and broader markets carried a risk-off tone. Global benchmark Brent dropped below $68 a barrel, while West Texas Intermediate was near $64. White House trade adviser Peter Navarro stepped up the pressure on New Delhi to halt purchases of Russian energy after Washington doubled a levy on imports from the country to 50%. Calling Indians "arrogant," he cast the conflict in Ukraine as "Modi's war, ...Read More >
WASHINGTON/NEW DELHI, Aug 27 (Reuters) - U.S. President Donald Trump's doubling of tariffs on imports from India to as much as 50% took effect as scheduled on Wednesday, delivering a serious blow to ties between two powerful democracies that had in recent decades become strategic partners. A punitive 25% tariff, imposed due to India's purchases of Russian oil, was added to Trump's prior 25% tariff on many imports from the South Asian nation. It takes total duties as high as 50% for goods as var ...Read More >
New Delhi, Aug 28 (SocialNews.XYZ) Aam Aadmi Party (AAP) national convenor and former Delhi Chief Minister Arvind Kejriwal on Thursday accused the Centre of betraying farmers by removing the 11 per cent import duty on cotton, alleging that the move was taken under pressure from the US. Kejriwal said the decision would render domestic farmers uncompetitive, as US cotton would now be available Rs 15-20 cheaper per kg than Indian cotton. He claimed that India's textile industry will procure cheap ...Read More >
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