(20th Aug, 2025)
A parliamentary panel suggests recalibrating India's export strategy by enhancing manufacturing competitiveness and diversifying markets to counter global economic headwinds. The panel urges expanding production-linked incentives to high-tech and green manufacturing. Additionally, the government is urged to expedite CPSE privatization and aim for 8% economic growth with increased investment.
Source: The Economic Times
(20th Aug, 2025)
China is easing export restrictions to India. This includes fertilizers and rare earths. However, a report suggests India's trade deficit with China is a concern. It reached USD 100 billion. The report advises India to focus on self-reliance. This involves boosting domestic manufacturing. It also involves reducing import dependence. This will help India engage with China on equal terms.
Source: The Economic Times
(19th Aug, 2025)
India's Russian oil imports decreased in July due to reduced discounts and seasonal demand dips, with private refiners taking the majority. State refiners are shifting to Middle Eastern and U.S. supplies amid narrowed Urals discounts. Overall, Russian oil imports fell slightly in January-July, while U.S. purchases increased significantly, and Latin American imports were skipped in July.
Source: The Economic Times
(19th Aug, 2025)
Jatin Prasada stated that India's merchandise exports, valued at $48.2 billion, will face tariffs. The government aims to protect national interests, farmers, and industries. Measures are being taken to mitigate trade impacts through export promotion. Trump imposed an additional 25 percent tariff on Indian goods due to continued Russian oil purchases.
Source: The Economic Times
(20th Aug, 2025
India and China are showing signs of improved relations, with discussions focusing on addressing India's concerns regarding rare earths, fertilizers, and tunnel boring machines. Chinese Foreign Minister Wang Yi's visit to India included border talks and a meeting with Prime Minister Modi, signaling a commitment to stable and healthy bilateral development.
Source: The Economic Times
(20th Aug, 2025)
The Centre's proposal for a two-tier GST structure with a special 40 per cent rate anticipates the 18 per cent slab remaining the primary revenue contributor. This restructuring involves eliminating the 12 and 28 per cent slabs, shifting most items to either 5 or 18 per cent.
Source: The Economic Times
(19th Aug, 2025)
India’s exports of textile products to the United States, the European Union and the United Kingdom reached $20.7 billion in the financial year ending March 31, 2025, Parliament was informed on Tuesday.
Source: Mathrubhumi
(20th Aug, 2025)
The Indian government has temporarily suspended the 11% import duty on raw cotton until September 30th to improve domestic supply. This decision is anticipated to benefit the textile sector by providing raw materials at competitive global rates and potentially increasing cotton imports from the US, particularly for premium exports.
Source: The Economic Times
(19th Aug, 2025)
India faces potential tariffs of $48.2 billion on exports to the US following reciprocal duties imposed starting August 2025. The government is negotiating a trade agreement with the US, but talks have been delayed. Despite this, India's exports to the US grew by 21.64% during April-July FY25. Countervailing duties have also been announced by the US on certain Indian exports.
Source: The Economic Times
(19th Aug, 2025)
The imposition of higher tariffs by the US will significantly impact the micro, small and medium enterprise sector, which accounts for around 45 per cent of India's exports, while MSMEs in textiles, diamonds and chemicals are likely to be the most hit, a report by CRISIL Intelligence said. The US levies ad valorem duty of 25 per cent on Indian goods. However, it has imposed an additional 25 per cent tariff which will be effective from August 27 this year. This brings the total tariffs to 50 per cent, which will have a meaningful impact on several sectors in India, the report said. Textiles, gems and jewellery, which account for 25 per cent of India's exports to the US, are likely to be most affected. The MSMEs have more than 70 per cent share in these sectors and will be hit hard, the report said.
Source: Rediff
(19th Aug, 2025)
Egypt is mulling over converting the Helwan Iron and Steel Company site into a major textile and garment industry complex to attract foreign investment and boost local value-addition, deputy prime minister for industrial development and minister of industry and transport Kamel Al-Wazir recently said.
Source: Daily News Egypt
