Finance Minister Nirmala Sitharaman on Thursday said the ongoing process of rationalizing customs duties and withdrawing the 6 per cent equalization levy, which began in 2023, is independent of any global events and will continue.
Speaking exclusively to ANI, Ajai Sahai, Director General and CEO of FIEO, said car exports to the US are insignificant, so it won't have much impact on Indian automakers.
The recent decision by U.S. President Donald Trump to impose a 25 per cent tariff on fully built vehicles (CBUs) and auto parts is expected to have little impact on India's automobile industry, according to a statement by the Global Trade Research Initiative (GTRI).
In a significant policy announcement from the Oval Office, President Trump has declared a 25 per cent tariff on all imported vehicles entering the United States, a move he described as "very exciting" for domestic manufacturing.
IndiGrid 2 Private Limited emerged as the Transmission Service Provider (TSP) through the Tariff-Based Competitive Bidding (TBCB) process conducted by RECPDCL, the Bid Process Coordinator for developing the transmission project on a Build, Own, Operate, and Transfer (BOOT) basis.
"And because India does apply tariff lines to a number of American exports to India, if you strictly understand what reciprocal means, it would mean that our exports to America will also be affected. So I'm hoping that in the talks they'll find some sensible outcome" he said
The auto component industry in the country is facing export challenges due to the ongoing overhang of tariffs by the USA. In addition, currency depreciation has led to demand weakness in a few Middle Eastern countries and a major slowdown in the European region, says a report by DAM Capital
India's economy is expected to show resilience despite trade tensions arising from US President Donald Trump's tariff threats, according to a report by S&P Global.
The regular tariff hike by the telecom operators in the country will continue in future as the companies plan to increase Average Revenue Per User, says a report by Centrum Institutional Research.
US President Donald Trump, alongside the Governor of Louisiana, announced on Monday that Hyundai will be investing USD 5.8 billion in American manufacturing, including the construction of a steel plant in Louisiana that will produce over 2.7 million metric tons of steel annually and creat
Trump said that the US would impose 25 per cent tariffs on a nation that purchases oil or gas from Venezuela, adding that the tariff would take place on April 2.