Washington, July 21 (IANS) US President Donald Trump has proclaimed July 19-25 as “Made in America Week”, using the occasion to renew his administration’s push to revive domestic manufacturing, promote American-made products and defend trade policies aimed at bringing factories and jobs back to the United States.In a presidential proclamation issued on Monday, Trump described American manufacturing as the foundation of the country’s economic strength and said his administration was working to re…
Latest Domestic Production News & Updates
Washington, July 21 (IANS) US President Donald Trump signed a proclamation creating a new tariff incentive programme aimed at encouraging companies to build, expand or refurbish aluminium smelters in the United States, saying the move would strengthen the country’s industrial base and address national security concerns tied to imports.The proclamation directs the Secretary of Commerce to establish an investment incentive programme under Section 232 of the Trade Expansion Act of 1962 for companie…
New Delhi, July 9 (IANS) The government has rolled out more customs duty relief to lower the cost of importing a wide range of components and capital goods used to produce electronic goods such as smartphones and lithium-ion battery manufacturing, in order to promote domestic production of finished products.The Central Board of Indirect Taxes and Customs (CBIC) has issued three separate notifications to roll out the customs duty waiver and expand the list of goods eligible for concessional duty….
Washington, June 3 (IANS) Pharmaceutical companies are increasingly investing in the United States as the Trump administration pushes to expand domestic drug manufacturing, Medicare and Medicaid Services Administrator Dr Mehmet Oz said on Tuesday.Speaking at a White House briefing, Oz said major drugmakers were already expanding operations in the United States and suggested the trend could accelerate as the administration pursues policies aimed at boosting innovation and reducing dependence on o…
New Delhi, April 30 (IANS) The government said on Thursday that 58 companies have been approved as eligible to participate in the Incentive Scheme for Promotion of Critical Mineral Recycling, designed to strengthen India’s critical mineral security and promote a circular economy.The scheme aims to develop domestic recycling capacity for critical minerals from lithium-ion batteries, e-waste, and industrial scrap—thereby reducing import dependence and supporting clean energy and advanced manuf…
Washington, April 24 (IANS) US President Donald Trump said that the United States will keep control of the Strait of Hormuz until Iran agrees to a deal, using the vital oil route as leverage in the ongoing standoff.“We have total control of it,” Trump said. “It’ll open when they make a deal or something else happens that’s very positive.”He made clear the closure is intended to pressure Iran’s economy. “If we open the strait, that means they’re going to make $500 million a day….
Washington, April 16 (IANS) Tax exemptions on overtime and targeted relief for small businesses have emerged as key drivers behind the uptake of President Donald Trump’s tax cuts, according to the White House. US Treasury Secretary Scott Bessent told reporters at a news conference that the most widely used provision in the new tax framework was the exemption on overtime income, with more than 25 million filers claiming the benefit.He said the policy was designed to reward additional work. “I…
New Delhi, April 12 (IANS) The Finance Ministry clarified on Sunday that it had sent an advisory to states to align their bonus policy to promote pulses, oilseeds, and millets, in line with the national priorities for nutritional security, self-reliance, and the need to reduce dependence on imports, and this was not a directive as alleged by Tamil Nadu Chief Minister M.K. Stalin.Recently, Chief Minister Stalin, in a speech, had referred to a letter issued by the Ministry’s Department of Expendit…
Washington, April 9 (IANS) The move by India to expand its domestic defence manufacturing could strengthen economic growth, the International Monetary Fund said, noting that higher military spending can lift output when it supports local industry.“Defence buildups can boost economic activity in the short term—lifting consumption and investment,” the IMF said in its latest analysis of global defence trends.The report comes as defence spending rises worldwide amid growing geopolitical tensio…
New Delhi, March 29 (IANS) How does it feel to sit steady while everything around you seems to be on fire? It is an unsettling image, but it aptly captures India’s position in today’s world.At a time when much of the globe is grappling with the cascading effects of a conflict-triggered energy crisis, India appears relatively stable. The ongoing tensions involving the US, Israel, and Iran have sent shockwaves through global energy markets. Countries across continents are scrambling to respond to …