US cuts proposed Section 301 tariff on India to 10%, nearly half of exports remain exempt

July 25, 2026 4:30 PM

US cuts proposed Section 301 tariff on India to 10%, nearly half of exports remain exempt

India has secured a lower tariff burden under the United States' final Section 301 measures on imports linked to forced labour concerns, with the additional duty on Indian goods reduced to 10 per cent from the 12.5 per cent initially proposed, the government said on Saturday. The final measures, announced by the U.S. Trade Representative (USTR) on July 23, conclude an investigation under Section 301 of the U.S. Trade Act, 1974, into the policies and practices of 60 economies, including India, r...

India safeguarded agriculture, dairy in US trade deal: Piyush Goyal

February 4, 2026 3:57 PM

India safeguarded agriculture, dairy in US trade deal: Piyush Goyal

Union Commerce and Industry Minister Piyush Goyal on Wednesday assured Members of Parliament that India has successfully safeguarded the interests of sensitive sectors, particularly agriculture and dairy, in the trade agreement with the United States, while ensuring significant benefits for Indian exporters.   The India–US trade deal, which reduces tariffs on Indian goods entering the US to 18 per cent, has triggered a political row, with Opposition members expressing concern over claims by...

Nearly $30 billion in Indian exports secure from Trump’s 50% tariff

August 7, 2025 9:27 AM

Nearly $30 billion in Indian exports secure from Trump’s 50% tariff

As US President Donald Trump on Wednesday announced a 50 per cent tariff on imports from India, shipments worth over $30 billion — including pharmaceuticals and certain electronic items such as smartphones, semiconductors, and energy products — remain exempt from the hike, as they continue to be on the exemption list. India exported drugs and pharmaceuticals as well as electronics (primarily smartphones) worth $10.5 billion and $14.6 billion respectively in FY25, together accounting for 29 ...

Trump imposes additional 25% tariff on Indian imports; economists warn of impact on growth

August 7, 2025 8:20 AM

Trump imposes additional 25% tariff on Indian imports; economists warn of impact on growth

U.S. President Donald Trump has imposed an additional 25% tariff on imports from India, a move economists say could dent India’s GDP growth in FY26 by up to 0.4%. Sonal Badhan, Economics Specialist at Bank of Baroda, told ANI, “We had initially priced in an approximate 0.2% impact on GDP growth due to the earlier 25–26% tariffs imposed by the U.S. The additional 25% hike will come into effect after 21 days. During this time—or in the coming months—there is a likelihood that lower rate...

UK FTA finalised after two decades, credit goes to PM Modi: Piyush Goyal

July 25, 2025 12:46 AM

UK FTA finalised after two decades, credit goes to PM Modi: Piyush Goyal

Union Commerce Minister Piyush Goyal on Thursday said it took over two decades to finalise the historic Free Trade Agreement (FTA) with the United Kingdom, crediting Prime Minister Narendra Modi for bringing the deal back into focus and driving it to conclusion. Speaking to IANS on the sidelines of the India-UK talks, Goyal said, “This is historic in itself. It took over two decades to finalise this FTA. But when Prime Minister Narendra Modi gave it momentum in 2021, brought it back into focu...

India’s FY25 exports up 5.5% to $821 billion; March sees 2.65% rise

April 16, 2025 12:14 PM

India’s FY25 exports up 5.5% to $821 billion; March sees 2.65% rise

India’s cumulative exports for the financial year 2024–25 (April–March) rose by 5.5% to $820.93 billion, up from $778.13 billion in the previous year, driven by strong performances in key sectors, according to data released by the Ministry of Commerce and Industry on Wednesday. In March 2025, total exports of goods and services rose 2.65% year-on-year to $73.61 billion. Imports for the month climbed 4.9% to $77.23 billion. Among the major contributors to merchandise export growth were el...

India to review impact of US reciprocal tariffs, says MoS Finance

April 3, 2025 3:09 PM

India to review impact of US reciprocal tariffs, says MoS Finance

India will review and assess the impact of the 27 per cent reciprocal tariffs imposed by the United States, Union Minister of State for Finance Pankaj Chaudhary said on Thursday. His remarks come in response to the recent tariff hike affecting Indian exports to the US. Speaking to reporters in New Delhi, Chaudhary emphasized the differing trade priorities of the two nations. "For Donald Trump, it's America First, and for Modi ji, it's India First. We will analyze the situation, assess its impac...

India’s defence production surges to Rs. 1.27 lakh crore in FY 2023-24, exports cross Rs. 21,000 crore mark

March 25, 2025 10:30 AM

India’s defence production surges to Rs. 1.27 lakh crore in FY 2023-24, exports cross Rs. 21,000 crore mark

India’s defence production hit a record Rs. 1.27 lakh crore in FY 2023-24, marking a 174% rise since 2014-15, driven by the Make in India initiative. Defence exports also saw a significant boost, reaching Rs. 21,083 crore, a 30-fold increase in the last decade, with exports now spanning over 100 countries, according to an official statement from the Ministry of Defence on Monday. This unprecedented growth has been fuelled by strategic initiatives like iDEX and SAMARTHYA, which are propelling ...