Taking the latest cues from the US after it imposed high tariffs on various imports from China, CareEdge Ratings believes that other countries may also follow suit to protect their respective domestic industries.
The government has maintained restrictions on the import of unregistered or non-compliant electronics and IT products as per an official notification from the Commerce Ministry on Monday.
Indigenisation in the defence sector under the Make in India policy has helped the Indian Army significantly cut down its dependence on imports to meet its requirements.
India's trade deficit faces limited near-term challenges from ongoing geopolitical uncertainties, though it remains an important area to monitor, says a recent outlook report by Crisil on India's trade deficit.
Following the US's move to increase tariffs on imports from China, Chinese officials have fiercely promised to retaliate, stressing that this will seriously affect bilateral cooperation with the US, reported Voice of America (VOA).
India registered record exports in the just concluded financial year 2023-24 at USD 778 billion, sources in the commerce ministry said. In 2022-23, the country exported goods and services combined at USD 776.3 billion.
US President Joe Biden has directed his Trade Representative to increase tariffs on USD 18 billion of imports from China, including semiconductors, solar cells, batteries, and critical minerals to 'protect' American workers and businesses, the White House said in a statement on Tuesday.
Power plants are increasingly turning to long-term coal imports, taking advantage of a market with ample liquidity and availability. This shift came after the National Electric Power Regulatory Authority (NEPRA) streamlined spot imports through procurement guidelines, leading to a significan
Meanwhile, US President Biden has promised new measures to shield steel mills, automakers and other American companies against what he calls trade "cheating" by Beijing, according to the New York Times. The measures are expected to be announced early next week and will include tarrifs on Chi
The Authority attributed the drop in vehicle imports in April 2024 partly to what it called a "massive advance" of vehicle imports in December 2023, on the eve of the increase in the purchase tax on electric vehicles in January 2024.
The statement of the Italian lawmaker mentioned that "This is a topic of increased relevance raised in conjunction with Xi Jinping's visit to Europe which is commented by many analysts as an initiative aimed at fragmenting European member states on major issues trade, in particular concer