In 2024-25, a decline in imports from China was observed across several sectors compared to the previous year. For example, imports fell sharply in fertilisers (61.4%), followed by residual chemicals and allied products (19.7%), iron and steel (10.3%), and man-made yarn (9.5%)

Mobile phone imports have decreased from ₹48,609 crore in 2014-15 to ₹3,710 crore in 2024-25. Whereas #exports of mobile phones to China has increased from ₹1,566 crore in 2014-15 to more than ₹2,05,017 crore in 2024-25.

#Trade
https://t.co/DI0lDKMpvX

India condemned the Islamabad mosque bombing, expressed condolences for the loss of lives, and firmly rejected Pakistan’s allegations. New Delhi said Islamabad must address its internal problems instead of blaming others, calling the accusations baseless, pointless, and misleading, globally observed. #ForeignAffairs

First made-in-India wheeled humanoid for industrial use takes centre stage


#economy #tech
https://www.business-standard.com/technology/tech-news/first-made-in-india-wheeled-humanoid-for-industrial-use-takes-centre-stage-126020501550_1.html

India will "eliminate or reduce tariffs" on U.S. food & agricultural products which includes:
-Dried distillers’ grains (DDGs)
-red sorghum for animal feed
-Tree nuts
-Fresh and processed fruit -Soybean oil
-Wine and spirits

--- From India, US joint statement on #trade

India will receive a preferential tariff rate quota for automotive parts: India US Joint Statement

#trade

The United States will also remove tariffs on certain aircraft and aircraft parts of India: India, US joint statement
#trade

India intends to purchase $500 billion of U.S. energy products, aircraft and aircraft parts, precious metals, technology products, and coking coal over the next 5 years, says India, US joint statement
#trade

India and the United States will significantly increase trade in technology products, including Graphics Processing Units (GPUs) and other goods used in data centers, and expand joint technology cooperation: Joint Statement
#trade

Trump tariff reduction order warns that tariffs of 25% on India will be reimposed if the country resumes "directly or indirectly" oil from Russia.

#trade

US Reduces Tariffs on India:

From 50%, tariffs reduced to 18% on Indian goods which includes textiles/apparel, leather/footwear, plastics/rubber, organic chemicals, home décor, artisanal products, and certain machinery.

#trade

Gains for India:

The US also removes or exempts tariffs on important Indian exports including generic pharmaceuticals, gems/diamonds, aircraft parts, and certain aluminum/steel/copper products (subject to agreement finalization).

#trade

Interesting map used by the United States Trade Representative office. Showcasing entire Kashmir as part of India, including Pakistan occupied Kashmir.

#geopolitics #trade

Final summary for those who are having confusion regarding 0% and 18% tariff slab , Read the below statement from PIB release and tweet by union minister Piyush Goyal:


"As part of this framework, the US will slash reciprocal tariffs on Indian goods to 18%, providing a huge market opportunity in key sectors such as textiles & apparel, leather & footwear, plastic & rubber products, organic chemicals, home décor, artisanal products, and select machinery in the world’s largest economy.

Additionally, tariffs will go down to zero on a wide range of goods, including generic pharmaceuticals, gems & diamonds, and aircraft parts, thereby further enhancing India’s export competitiveness and Make in India.

India will also get exemptions under section 232 on aircraft parts, tariff rate quota on auto parts and negotiated outcomes on generic pharmaceuticals, leading to tangible export gains in these sectors.

At the same time, the Agreement reflects India’s commitment to safeguarding farmers’ interests and sustaining rural livelihoods by completely protecting sensitive agricultural and dairy products, including maize, wheat, rice, soya, poultry, milk, cheese, ethanol(fuel), tobacco, certain vegetables, meat, etc."


#trade #economy
link: https://www.pib.gov.in/PressReleasePage.aspx?PRID=2224783&reg=3&lang=2