What explains India's high import traiffs
2 years, 10 months ago

What explains India's high import traiffs

Live Mint  

Decoding India’s tariff and trade policy has become increasingly difficult for trade experts. Unlike them, India’s free-trade agreement partners like the Republic of Korea and Thailand also have fairly high average autonomous tariffs, compared to countries like Australia and New Zealand. Learnings from previous agreements: India’s comprehensive economic partnership agreement with ROK has been a key learning experience in the context of domestic value addition. Yet, after its trade agreements with India, Australia, China and the US, ROK became the world’s leading exporter of zinc, with 10.5% of global exports in 2020. Recent trade agreements and the way forward : India’s previous trade agreements were mostly geo-strategic, but New Delhi is now focusing on greater market access in key export destinations.

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History of this topic

India’s trade braces for an action-packed 2025
2 hours, 48 minutes ago

India’s trade braces for an action-packed 2025

Live Mint  

India’s external trade, navigating a phase of uncertainty owing to the European Union's new carbon tax on imports and slowing consumption in Europe, is set face further pressure. Yet, according to Pralok Gupta, associate professor, Indian Institute of Foreign Trade, which operates under the ministry of commerce and industry, “If US imposes high tariffs on China, India may face collateral …

We have to wait and watch to see how it pans out: Official on Trump’s tariff threat
5 days, 14 hours ago

We have to wait and watch to see how it pans out: Official on Trump’s tariff threat

Live Mint  

New Delhi, Imposing reciprocal duties violates global trade rules but one has to follow a "wait and wait" approach to US President-elect Donald Trump's remarks on imposing reciprocal tariffs, a senior official said on Wednesday. US President-elect Donald Trump has said that India charges a lot of tariffs, reiterating his intention to impose reciprocal tariffs in retaliation for what New …

India’s imports rises to 27%, touches to record high of almost $70 billion
1 week ago

India’s imports rises to 27%, touches to record high of almost $70 billion

The Hindu  

India’s merchandise exports fell 4.83% to $32.11 billion in November while the import bill jumped 27% to a record high of almost $70 billion, as per data released by the Commerce Ministry. This is the third time in four months that India’s import bill has hit a record high, but November’s tally surpasses the last two occasions by a wide …

India to work with rest of Brics countries to further ease trade
2 weeks ago

India to work with rest of Brics countries to further ease trade

Live Mint  

India's trade with BRICS countries may be poised for a take-off as officials work to extend customs-related privileges to trust ed merchants from these nations, which would also fetch similar benefits to Indian exporters to those markets, two persons familiar with the matter said. A second person said the road is clear for negotiating a similar deal with China, a …

India faces high exposure to US trade policy shift
2 weeks, 4 days ago

India faces high exposure to US trade policy shift

Deccan Chronicle  

Chennai: India will be one of the key economies that are most exposed to a potential trade policy shift in the US under the new regime. The 2025 trade outlook is clouded by potential US policy shifts, including broader tariffs that could disrupt global value chains and impact key trading partners, said UNCTAD in its global trade update. This 3.3 …

India’s exports rise, boosting global presence
2 weeks, 6 days ago

India’s exports rise, boosting global presence

Deccan Chronicle  

New Delhi: India is eyeing to be a global economic powerhouse with its remarkable achievements in the export landscape. “India’s export performance in several key product categories has shown notable success, with the country maintaining or improving its rank among the top 10 global suppliers, all with export values exceeding $1 billion in 2023,” the ministry said. “The petroleum sector …

India-China trade: An alarming $18 billion discrepancy
3 weeks, 5 days ago

India-China trade: An alarming $18 billion discrepancy

Live Mint  

India-China trade data for 2023 reveals a widening discrepancy, with India's reported imports from China falling significantly short of China's export figures, raising concerns over potential anomalies such as under-invoicing, misclassification, and inconsistent reporting practices. In 2023, India's merchandise imports from China stood at $99.59 billion, which was 18.2% lower than the $117.68 billion worth of exports reported by China, …

Trump’s policies may open new doors for India’s defence sector: Report
Trending News
4 weeks ago

Trump’s policies may open new doors for India’s defence sector: Report

Live Mint  

New Delhi, November 25 : The "America First" trade policy promoted by upcoming U.S. President Donald Trump has far-reaching implications for global trade and geopolitics. It said "Indian businesses in sectors such as pharmaceuticals and defense might also find new opportunities, especially if U.S.- India collaboration strengthens. The report said "increased tariffs might prompt retaliatory measures from trade partners, potentially …

India seeks to accelerate TEPA implementation during commerce secretary’s visit to Norway
1 month ago

India seeks to accelerate TEPA implementation during commerce secretary’s visit to Norway

Live Mint  

India has intensified efforts to implement the Trade and Economic Partnership Agreement with the European Free Trade Association, with commerce secretary Sunil Barthwal embarking on a four-day trip to Norway on 22 November. The visit underscores India's push for broader global trade engagement, as TEPA offers unprecedented opportunities for Indian exports, services, and investments. The agreement, signed in March 2024 …

India-UK trade talks to focus on key tariff barriers and emerging sectors
1 month ago

India-UK trade talks to focus on key tariff barriers and emerging sectors

Live Mint  

The India-UK free trade agreement talks that are set to resume in early 2025 will focus on a range of critical areas including market access, regulatory frameworks, and tariff barriers. A successful FTA would facilitate increased trade across sectors like technology, agriculture, and manufacturing, while also deepening diplomatic ties, said Abhash Kumar, assistant professor of economics at Delhi University. India …

Reform import tariffs to sharpen the competitive edge of Indian manufacturers
1 month ago

Reform import tariffs to sharpen the competitive edge of Indian manufacturers

Live Mint  

India’s manufacturing sector has struggled to exceed 17% of GDP over the past 20 years. CUTS International undertook an in-depth study on IDS across four critical sectors: textiles and apparel, electrical products and electronics, chemicals, and metals. As private investments must pick up to support economic growth and manufacturing must expand at a much faster pace to generate employment, we …

India Seeks Tariff Flexibility in ASEAN FTA Review
1 month, 1 week ago

India Seeks Tariff Flexibility in ASEAN FTA Review

Deccan Chronicle  

New Delhi: India may seek flexibility in the existing tariff concessions in sectors, which are impacted by significant increase in imports, under the free trade agreement review with the 10-nation Association of Southeast Asian Nations, an official said. Eight sub-committees have been constituted under the India-Asean Free Trade Agreement Joint Committee for undertaking negotiations on different areas related to the …

US Elections 2024: 5 key points from Donald Trump’s election manifesto that may impact India
1 month, 1 week ago

US Elections 2024: 5 key points from Donald Trump’s election manifesto that may impact India

Live Mint  

Donald Trump has secured his return to the White House as the 47th President of the United States, following a highly-competitive election on November 5, 2024. Trump’s Policy Agenda 5 key points from Donald Trump’s election manifesto that may impact India: Tax Reforms: As per the report, Trump’s policy platform emphasises extending the 2017 Tax Cuts and Jobs Act, which …

India should reconsider its rejection of the RCEP trade bloc
1 month, 1 week ago

India should reconsider its rejection of the RCEP trade bloc

Live Mint  

Five years ago, on a November morning in Bangkok, just on the verge of signing the Regional Comprehensive Economic Partnership agreement, India abruptly walked out of it. India’s RCEP participation should be based on a broad set of metrics—not merely the trade deficit, but also investment inflows, employment creation and participation in new regional value chains. A 2022 assessment by …

India bets on Modi-Trump warmth to navigate choppy future with US
Trending News
1 month, 2 weeks ago

India bets on Modi-Trump warmth to navigate choppy future with US

Al Jazeera  

New Delhi, India — During his campaign for re-election, Donald Trump repeatedly threatened major tariffs on imports from a range of countries. Now, Trump’s “America First” agenda — which aims to offset domestic tax cuts by imposing higher tariffs on imports — could disrupt that relationship. “During the first term, Trump got into this whole ‘protectionist mode’, but upon his …

India poised to gain from Trump’s potential tariff hike on China, says report
1 month, 2 weeks ago

India poised to gain from Trump’s potential tariff hike on China, says report

Live Mint  

Following Donald Trump's victory in the U.S. presidential elections, a report from CareEdge suggests that India could benefit from potential shifts in global trade dynamics if Trump moves forward with plans to impose high tariffs on Chinese imports. Such policies aim to reduce the U.S. dependence on Chinese imports, a move that could disrupt established trade channels and prompt companies …

India could benefit from re-orientation of global supply chain away from China after Trump victory: Report
Trending News
1 month, 2 weeks ago

India could benefit from re-orientation of global supply chain away from China after Trump victory: Report

Op India  

After the victory of the Donald Trump in the US Presidential elections, India could benefit from any re-orientation of the global supply chain away from China says a report from Care Edge As per the report, Trump has proposed imposing high tariffs on imports from China, which could lead to changes in global trade dynamics, creating opportunities for India. It …

India could benefit from re-orientation of global supply chain away from China after Trump's victory
Trending News
1 month, 2 weeks ago

India could benefit from re-orientation of global supply chain away from China after Trump's victory

Op India  

After the victory of the Donald Trump in the US Presidential elections, India could benefit from any re-orientation of the global supply chain away from China says a report from Care Edge. As per report, Trump has proposed imposing high tariffs on imports from China, which could lead to changes in global trade dynamics, creating opportunities for India. It said …

Trump's potential return sparks concerns over Indo-US trade ties, tariffs
Trending News
1 month, 2 weeks ago

Trump's potential return sparks concerns over Indo-US trade ties, tariffs

New Indian Express  

Donald Trump’s return as the 47th president of the US will likely put Indo-US trade ties under sharp focus. Trump has promised a fresh wave of tariffs under his ‘America first’ stance, which may adversely affect countries like India and its key sectors such IT, pharmaceuticals, textiles, chemicals and automotive parts. He even proposed import duty increases of 10-20 percent …

America First, round two: What Trump's trade agenda means for India and the world
1 month, 2 weeks ago

America First, round two: What Trump's trade agenda means for India and the world

India Today  

With Donald Trump’s return to the White House, global trade dynamics face a seismic shift. India’s strategic balance As Trump brings his protectionist trade policies back, India faces pressure to lower trade barriers or risk tariffs on key exports. Why India matters to the US India holds unique significance for the US — first, as a strategic partner in countering …

World Bank Calls for Tariff Reduction and Ease of FDI in India to Unlock Growth Potential
2 months, 1 week ago

World Bank Calls for Tariff Reduction and Ease of FDI in India to Unlock Growth Potential

Live Mint  

World Bank economist Franziska Ohnsorge urges India to reduce tariffs and ease foreign direct investment restrictions to unlock its full potential. She highlights India's small market share but emphasizes that it can still capitalize on opportunities due to its proximity to global supply chains. The World Bank expects South Asia to remain the fastest growing among emerging market and developing …

How India can fix the Chinese imports problem
2 months, 3 weeks ago

How India can fix the Chinese imports problem

Live Mint  

India last month extended countervailing duties of 12-30% on certain steel imports from China and Vietnam, following requests from local producers to safeguard against cheaper imports. Read this | Mint Primer | China’s stimulus: What it spells for India & the world A growing economy like India’s naturally requires more imports to meet rising consumption and manufacturing demand, with cost …

China's trade with ROK increasingly competitive
2 months, 3 weeks ago

China's trade with ROK increasingly competitive

China Daily  

By Zhong Nan | China Daily | Updated: 2024-09-28 09:08 The industrial business sectors of China and South Korea, once complementary a decade ago, have become increasingly competitive in mid — to high-end manufacturing, a trend that is expected to intensify in the coming years, said market watchers on Friday. As China continues to expand its opening-up and make breakthroughs …

Is the spike in India’s trade deficit a worry?
3 months ago

Is the spike in India’s trade deficit a worry?

The Hindu  

The story so far: After a positive start to goods exports in the first quarter of 2024-25, there has been a blip in momentum. On the exports front, 18 of India’s top 30 segments recorded growth in July and 19 in August, but the big-ticket sectors like petroleum, and gems and jewellery, have tanked significantly. While gems and jewellery exports …

India has trade surplus with 151 nations; deficit with 75 during Jan-June 2024: GTRI
3 months, 3 weeks ago

India has trade surplus with 151 nations; deficit with 75 during Jan-June 2024: GTRI

The Hindu  

India has recorded trade surplus with as many as 151 countries such as the U.S. and Netherlands, while the country has a trade deficit with 75 nations including China and Russia during the first half of this year, according to think tank GTRI. "Between January and June 2024, India had a trade surplus with 151 countries, representing 55.8 per cent …

‘India may gain more from Chinese FDI than import reliance in tapping China plus one strategy’
5 months ago

‘India may gain more from Chinese FDI than import reliance in tapping China plus one strategy’

The Hindu  

Chief Economic Advisor V. Anantha Nageswaran has suggested that India may stand to gain more by “replacing some well-chosen imports with investments from China” thus helping both boost Indian manufacturing and plugging India into the global supply chain as it looks to tap advanced economies’ push to diversify beyond China through a China plus one sourcing approach. Writing in a …

India in trade deficit with nine of top 10 trading partners in 2023-24
6 months, 3 weeks ago

India in trade deficit with nine of top 10 trading partners in 2023-24

The Hindu  

India has recorded a trade deficit, the difference between imports and exports, with nine of its top 10 trading partners, including China, Russia, Singapore, and Korea, in 2023-24, according to official data. India's total trade deficit in the last fiscal narrowed to $238.3 billion as against $264.9 billion in the previous fiscal. Economic think tank Global Trade Research Initiative said …

Up 2.3 times in 15 years, India’s Chinese import bill to rise further
7 months, 3 weeks ago

Up 2.3 times in 15 years, India’s Chinese import bill to rise further

The Hindu  

India’s imports from China crossed $101 billion in 2023-24 from about $70 billion in 2018-19, and the country’s share of India’s industrial goods imports has risen from 21% to 30% over 15 years, according to a report by the Global Trade Research Initiative which reckoned that Chinese imports will rise sharply in coming years. Goods imports from China have risen …

India's defence exports at all-time high: Which are the countries buying from New Delhi?
8 months, 3 weeks ago

India's defence exports at all-time high: Which are the countries buying from New Delhi?

Firstpost  

Defence Minister Rajnath Singh announced that India’s arms exports have crossed the Rs 21,000-crore mark for the first time. According to the defence minister, the arms exports touched Rs 21,083 crore in the financial year 2023-24, a “spectacular growth” of 32.5 per cent over the previous fiscal. India’s growing defence exports India supplies arms to over 85 countries, including Italy, …

Trade puzzle: The Hindu Editorial on exports and global trade
9 months ago

Trade puzzle: The Hindu Editorial on exports and global trade

The Hindu  

Towards the end of a tumultuous trading year, India’s goods exports jumped 11.9% in February, marking the healthiest uptick in 20 months. It is remarkable that this spurt, significantly higher than the average export tally of $35.4 billion in the first ten months of this year, comes amid persistent concerns about disruptions in the Red Sea and the drought-hit Panama …

The View from India | Tricks of trade diplomacy
9 months ago

The View from India | Tricks of trade diplomacy

The Hindu  

When India signed the Trade and Economic Partnership Agreement with a bloc of four European countries — Iceland, Liechtenstein, Norway, and Switzerland — last week, the growing role of trade in diplomacy came under sharp focus. The pact comes on the heels of a host of bilateral agreements with the United Arab Emirates, spanning both trade and investment, following the …

Watch | Trade diplomacy | What’s the status of India’s Free Trade Agreements?
9 months, 1 week ago

Watch | Trade diplomacy | What’s the status of India’s Free Trade Agreements?

The Hindu  

March 15, 2024 08:53 pm | Updated 09:18 pm IST As India signs a Free Trade Agreement with 4 European Nations, is there hope for other negotiations- from the UK and EU to Oman, Gulf and Eurasian countries? Let’s start with this week’s developments, and a flurry of activities around India’s Free Trade Agreement negotiations just ahead of elections being …

What can India learn from countries like Vietnam to become an export giant?
10 months ago

What can India learn from countries like Vietnam to become an export giant?

The Hindu  

Like with the last episode of Business Matters, this one too was triggered by a headline I saw in an article: “India fears losing out to China in smartphone exports race”. This Reuters piece cited IT Minister of State Rajeev Chandrasekhar’s letter dated January 3 to Finance Minister Nirmala Sitharaman expressing fears that India’s high tariffs could be a deterrent …

India’s rival is Vietnam in the game of attracting global manufacturers
10 months, 1 week ago

India’s rival is Vietnam in the game of attracting global manufacturers

Live Mint  

If India wants to build a robust computer and electronics manufacturing industry, it needs to shift focus, fast. The latest reminder of this urgency came last week with a US appeal for New Delhi to make the business environment easier and more transparent to navigate, or keep losing out on foreign direct investment. Though India is getting a lot of …

India key to Skoda’s exports strategy, says country CEO
10 months, 2 weeks ago

India key to Skoda’s exports strategy, says country CEO

Live Mint  

New Delhi: India will play an important role in Czech carmaker Skoda Auto’s ambition to expand into South-east Asian markets, as the European automotive group Skoda Auto Volkswagen India, which operates five major automobile brands in the country—Skoda, Volkswagen, Audi, Lamborghini, and Porsche—looks to tap into India as a major source of and enabler for exports into other South-east Asian …

Why India Isn’t the New China
11 months ago

Why India Isn’t the New China

Live Mint  

China’s economy is struggling, but another Asian giant, neighboring India, is suddenly squarely on investors’ and manufacturers’ radar. India’s age-dependency ratio—a measure of the burden of child and elderly care on households—has fallen to 47 in 2022 from 82 in 1967, according to the World Bank. Only a third of India’s female working-age population was in the labor force in …

Trade push to top agenda of Katherine Tai’s 3-day visit
11 months, 2 weeks ago

Trade push to top agenda of Katherine Tai’s 3-day visit

Hindustan Times  

New Delhi: India and the US will discuss ways to boost bilateral trade during US Trade Representative Katherine Tai’s three-day India visit starting January 12, two officials said. Merchandise trade between the two countries fell by 9% to $79.28 billion in the first eight months The US is concerned about a widening of its trade deficit with India as the …

Optimistic on trade agreement ahead of elections: Swiss, Norway Ministers
1 year ago

Optimistic on trade agreement ahead of elections: Swiss, Norway Ministers

The Hindu  

No timeline can be given on the conclusion of talks between India and four Nordic countries of the European Free Trade Association for a Trade and Economic Partnership Agreement, said the Trade Ministers of Switzerland and Norway during a visit to Delhi. Government officials indicated that though the most recent round of talks between trade negotiators from India and the …

Deceptive signals: The Hindu Editorial on India’s October 2023 goods exports numbers
1 year, 1 month ago

Deceptive signals: The Hindu Editorial on India’s October 2023 goods exports numbers

The Hindu  

Last month, India’s goods exports recorded only their second uptick this financial year, with a 6.2% rise. Merchandise imports grew a sharper 12.3% over last October and nearly 21% over September’s tally to hit an all-time high of $65.03 billion. The Finance Ministry’s monthly economic review asserted that merchandise exports “surprised on the upside” with the highest growth in 11 …

India's trade trajectory: FTAs and beyond
1 year, 1 month ago

India's trade trajectory: FTAs and beyond

Live Mint  

India has been refining its global trade strategy, emphasizing a fresh outlook on Free Trade Agreements. India's readiness to face these emerging challenges will determine how well it can fulfil its ambitions of becoming an export-oriented manufacturing hub Not so long ago, India embarked on a journey to strengthen its trade relations with several nations, forging FTAs that promised mutual …

‘Limited benefit for India in trade deal with UK’
1 year, 2 months ago

‘Limited benefit for India in trade deal with UK’

Live Mint  

The India-UK free trade agreement is expected to yield only limited benefits for India, as many of its exports to the UK already enjoy low or zero tariffs, a new research report has said. “While textiles, apparel, footwear, agricultural products and certain other items stand to benefit from tariff reductions, substantial growth in Indian exports to the UK will ultimately …

How India is diversifying its economic partnerships to reduce a $60 billion trade deficit with China
1 year, 2 months ago

How India is diversifying its economic partnerships to reduce a $60 billion trade deficit with China

Firstpost  

By diversifying economic partnerships and fostering ties with like-minded nations, India aims to establish itself as a linchpin of stability and growth, contributing to a more balanced and multipolar world order India’s strategic pivot towards forging stronger economic alliances with nations like Korea, Japan, Europe, and the United States is emblematic of its response to evolving geopolitical dynamics. This shift …

India’s goods trade deficit hits a 10-month high
1 year, 3 months ago

India’s goods trade deficit hits a 10-month high

The Hindu  

India’s foreign trade hit a fresh trough in August, with goods exports shrinking for the seventh successive month, services exports estimated to have dropped for the first time in well over a year, and the goods trade deficit hitting a 10-month high. The merchandise import bill for August dropped 5.23% year-on-year to $58.64 billion, but was 10.85% higher than July’s …

Indian Defence exports breach Rs 16000 crore mark to reach an all time high
1 year, 3 months ago

Indian Defence exports breach Rs 16000 crore mark to reach an all time high

Op India  

Looking to expand the Make in India in defence sector, India’s defence exports have skyrocketed to an all-time high, touching nearly the Rs 16,000 cr mark in FY 2022-23, Defence Ministry said on Friday. “With a 23-fold increase in exports, Indian design and development capabilities are reaching over 85 countries,” the Defence Ministry announced. The Indian indigenous defence industry has …

Confident of striking a modern, forward-looking free trade agreement: British PM Rishi Sunak on trade ties with India
1 year, 3 months ago

Confident of striking a modern, forward-looking free trade agreement: British PM Rishi Sunak on trade ties with India

The Hindu  

British Prime Minister Rishi Sunak on September 6 said there was “still some way to go” for a free trade pact with India to be finalised, but appeared confident that the final outcome will be a "forward-looking" and "modern" deal that would benefit both sides and facilitate shared ambition of doubling trade by 2030. In an exclusive interview to PTI, …

India-ASEAN trade deal ill conceived: Goyal
1 year, 4 months ago

India-ASEAN trade deal ill conceived: Goyal

Live Mint  

India-ASEAN trade deal signed under the UPA era is one of the most ill-conceived deals, commerce minister Piyush Goyal said on Thursday at an industry event. India mostly imports capital goods, raw materials and intermediates from Asean, the tariff concessions under the free trade agreements have also been advantageous to many sectors and adversely impacted domestic companies, especially chemicals and …

India exploring Pan-Africa Free Trade Agreement, says Jaishankar during Tanzania visit
1 year, 5 months ago

India exploring Pan-Africa Free Trade Agreement, says Jaishankar during Tanzania visit

New Indian Express  

NEW DELHI: India has a fairly substantial presence in Africa and trade and investments with the continent are increasing. "If I take all of Africa today, India’s trade is $98 billion with Africa. India’s investments are $75 billion, and we are expecting both this trade with Africa and investments in Africa to grow, and I certainly, so there is a …

India’s Jan.-April imports from China rise 4.6% to $37.86 billion
1 year, 6 months ago

India’s Jan.-April imports from China rise 4.6% to $37.86 billion

The Hindu  

India’s imports of Chinese goods have continued to rise in 2023, growing 4.6% in the first four months of the year to cross $37.86 billion. Two-way trade climbed 4.5% from the year-earlier period to reach $44.34 billion at the end of April, data from China’s General Administration of Customs showed. In the first four months of the year, China’s trade …

India-Japan Trade Hits 10-Year Milestone With $17.15 Billion FDI Inflow: Commerce Department Data
1 year, 7 months ago

India-Japan Trade Hits 10-Year Milestone With $17.15 Billion FDI Inflow: Commerce Department Data

News 18  

Japan is making significant investments in India and has emerged as one of the country’s largest investors with a cumulative Foreign Direct Investment amounting to US$ 17.15 billion between April 2022 and January 2023, according to the Department of Commerce. While India’s exports to Japan amounted to US$ 5.18 billion, imports from Japan stood at US$ 11.97 billion during the …

India’s trade and economic ties with the EU are set to strengthen
1 year, 7 months ago

India’s trade and economic ties with the EU are set to strengthen

Live Mint  

India and the EU, as two large democratic areas, have a long history of shared values, political exchanges and common interests. The EU is India’s third largest trading partner, accounting for 10.8% of our total trade in goods. The EU is a key export market for us, and in many categories like agri-food products, India has a positive trade balance …

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