[ad_1] NEW DELHI: India’s economy could reach $20.7 trillion in terms of purchasing power parity (PPP) by 2030 and may emerge as the second-largest economy by 2038 with $34.2 trillion GDP, an EY report said. The report also said with appropriate countermeasures, India can limit adverse impact of higher US tariffs on selected exports to…
[ad_1] US President Donald Trump’s decision to impose a 50% tariff on Indian goods from August 27 will hurt major export sectors but also presents an opportunity for India to strengthen its position as a resilient and future-ready trading partner, industry bodies said on Wednesday.The tariff is expected to hit sectors such as textiles, gems…
[ad_1] NEW DELHI: The finance ministry on Wednesday cautioned that while the immediate impact of US tariffs on Indian exports may be limited, their secondary and long-term effects could pose significant challenges. The remarks come as Washington’s 50% duties on Indian goods took effect from August 27, covering exports worth over $48 billion. India To…
[ad_1] NEW DELHI: PM Narendra Modi on Wednesday reiterated the need to focus on self-reliance and ‘vocal-for-local’ while chairing the cabinet meeting. He also said India is ready to face all challenges and asked ministers to encourage and motivate people to buy more ‘Made in India’ products, TOI has learnt.The PM’s remarks gain significance as…
[ad_1] European Commissioner for Trade Maros Sefcovic is expected to visit India next month to assess the progress of free trade agreement (FTA) negotiations with Commerce Minister Piyush Goyal, PTI reported citing an official on Wednesday. The visit is likely to coincide with the conclusion of the 13th round of talks, scheduled from September 8…
[ad_1] Former Niti Aayog CEO Amitabh Kant said India should view the US tariff hike as a wake-up call to implement bold and once-in-a-generation reforms while diversifying its export markets for long-term growth.Addressing the BN Memorial Lecture organised by IRS (C&IT) Association, Kant said, “This is India’s century, irrespective of Trump’s tariff, I strongly believe…
[ad_1] India’s pivot isn’t about abandoning the US. It’s about strategic autonomy. When Prime Minister Narendra Modi lands in Tianjin this week for the Shanghai Cooperation Organisation (SCO) summit-his first visit to China since 2018-it won’t just be a symbolic handshake with Chinese President Xi Jinping. It will be a signal: India is hedging. Against…
[ad_1] US stocks were mixed on Wednesday as investors awaited chipmaker Nvidia’s quarterly results, seen as a key test of the artificial intelligence boom. The S&P 500 edged up less than 0.1%, staying close to its record high earlier this month. The Dow Jones Industrial Average gained 87 points, or 0.2%, while the Nasdaq Composite…
[ad_1] The relationship status has significantly evolved from being a “good friend” to becoming a “bad trading partner”, it says. (AI image) Barclays has flagged ‘serious threat’ to around 70% of India’s exports to the US with the Donald Trump administration’s 50% tariffs coming into effect today. “The risks to growth for the Indian economy…
[ad_1] India’s trade with Africa crossed the $100 billion mark in 2024-25, Union minister Kirti Vardhan Singh said on Wednesday, adding that New Delhi has also emerged among the top five investors in the continent.Speaking at the inaugural session of the 20th CII India-Africa Business Conclave in the capital, Singh said India has extended concessional…