The import of firecrackers is 'Restricted' under the ITC (HS) Classification of the Foreign Trade Policy and requires valid licences from both the Directorate General of Foreign Trade (DGFT) and the Petroleum and Explosives Safety Organisation (PESO) under the Explosives Rules, 2008.
Indian exports to the United States have plunged sharply by 37.5 per cent following Washington's decision to impose 50 percent tariffs on most Indian goods, according to a report by the Global Trade Research Initiative (GTRI).
The United States appears to be warming up to the idea of a comprehensive trade deal with India as Washington seeks to diversify critical supply chains away from China. With Beijing tightening its grip over rare-earth exports and the US-China trade war intensifying, policymakers in Washingto
A group of US lawmakers wrote to President Donald Trump urging him to repair ties with India after recent tariff hikes strained relations. They warned the measures hurt both economies and risk pushing India closer to China and Russia, calling for renewed dialogue and policy review.
The medium-term outlook for the Indian rupee remains tilted to the downside unless there is relief from the persistent twin deficit, current account and fiscal deficit, according to a report released by Union Bank of India.
US President Donald Trump on Monday (local time) announced a 100% tariff on all movies produced outside the United States, claiming that America's film industry had been "stolen" by overseas players.
The House Select Committee on the Chinese Communist Party (SCCCP) has issued a stark warning about a series of highly targeted cyber-espionage campaigns allegedly backed by Beijing, saying the attacks are designed to compromise US government agencies, trade policy experts, and organisations
He conveniently ignored the economic frictions he has created with certain countries at the global level while taking yet another swipe at the Biden administration in a bid to keep the shine on his tariff policy.
The ToR was signed by Additional Secretary, Department of Commerce, Government of India, Ajay Bhadoo, and Deputy Director, Trade Policy Department, Eurasian Economic Commission (EEC), Mikhail Cherekaev, the commerce ministry said in the statement.
"It is disappointing to see additional tariffs being announced at a time when we are actively working towards resolving the earlier differences and to strengthen our trade relationship through a trade agreement. Announcing another 25% tariff places unnecessary strain on the trade environment
After the order, the total tariff on Indian goods will be 50 per cent. While the initial duty becomes effective on August 7, the additional levy will come into effect after 21 days and will be imposed on all Indian goods imported into the US, except for goods already in transit or those m