Mumbai, Feb 11 (IANS) The Indian apparel (exports) sector has been upgraded to ‘Stable’ outlook from ‘Negative’ after the US reduced reciprocal tariffs on Indian goods to 18 per cent from 25 per cent, a report said on Wednesday.The report from ratings agency ICRA restored its outlook on the apparel sector, saying apparel export revenues are likely to rebound 8–11 per cent in FY27 even as shipments are still projected to decline 3–5 per cent in FY26.The report attributed revenue growth to rec…
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Washington, Feb 11 (IANS) President Donald Trump on told Fox Business that the US economy is “going great” as he touted record stock-market levels and said he wants Congress to pass a voting package he called the “Save America Act” ahead of the midterm elections.In an interview with Larry Kudlow on Fox Business’ “Kudlow”, Trump pointed to market milestones. “When you say 50,000, and by the way, uh, S&P 7,000—,” he said, adding, “we’re at the end of the first year.”Tru…
Mumbai, Feb 10 (IANS) India’s real GDP growth will likely touch 6.9 per cent in 2026 and 6.8 per cent in 2027, and the recent US-India trade deal should add about 0.2 percentage (20 bps) to annual GDP growth, a new report has said.The report from Goldman Sachs Research said, “Our analysts expect an incremental growth boost of 0.2 percentage points of GDP (annualised) with these new tariffs, based on India’s goods exports exposure of roughly 4 per cent of GDP to US final demand.”The investmen…
New Delhi, Feb 8 (IANS) Union Agriculture Minister Shivraj Singh Chouhan said on Sunday that many agricultural products of Indian farmers will now be exported to the United States of America with zero tariffs and American farmers’ agricultural products will not receive this concession in the Indian market. Stressing that India’s interests in agriculture and dairy are fully protected, the Union Minister added that the US has made significant reductions in tariffs on many products in the agricultu…
Seoul, Feb 8 (IANS) South Korean Prime Minister Kim Min-seok is set to hold talks with key ruling Democratic Party (DP) lawmakers and the presidential chief of staff later Sunday to discuss a special bill on implementing South Korea’s investment pledges to the United States and other pending issues, officials said. The meeting, set for 5 pm at the residence of the prime minister, comes as rival political parties agreed last week to establish a special committee to handle the investment bill amid…
New Delhi, Feb 8 (IANS) Calling it a major boost to bilateral ties, Bihar BJP State President Sanjay Saraogi on Sunday said the India-US Interim Trade Agreement marks a new chapter in economic cooperation between the two nations. Reacting to the development, Saraogi said, “The India-US interim trade agreement gives a new direction to economic cooperation between the two countries. This agreement will strengthen trade, investment, technology, and supply chains, helping India achieve its Viksit …
New Delhi, Feb 7 (IANS) Reiterating that India has completely protected its agriculture and dairy sectors in the US trade agreement, Commerce and Industry Minister Piyush Goyal said on Saturday that the country now has lowest US tariffs among its neighbours as well as competitors.China has been imposed with over 35 per cent tariffs, while Bangladesh and Vietnam have been slapped with 25 per cent tariffs while India has a much lesser tariff now, the minister said during a press conference here.So…
New Delhi, Feb 7 (IANS) The US trade agreement framework represents a historic milestone for India’s textiles and apparel sector, industry leaders said on Saturday.On behalf of the entire textile and apparel industry, Dr A Sakthivel, Chairman of the AEPC (the official body of apparel exporters in India), welcomed the India-US joint statement on the trade deal. “The coming decade is poised to be India’s decade in textile trade, as the country emerges as one of the most preferred sourcing de…
New Delhi, Feb 7 (IANS) As the United States and India have finalised an interim trade agreement that cuts US tariffs on Indian goods to 18 per cent, senior Congress leader Jairam Ramesh on Saturday criticised the development, saying the US-India Joint Statement issued so far is silent on key details. Taking to social media platform X, Ramesh said, “The United States-India Joint Statement just issued is silent on details.”He added that, based on what has been revealed, India would no longer …
New Delhi, Feb 7 (IANS) India has safeguarded the sensitivities of its agriculture and animal husbandry sectors in the interim US trade deal, Finance Minister Nirmala Sitharaman said on Saturday.As part of the interim trade deal framework, the US will slash reciprocal tariffs on Indian goods to 18 per cent, providing a huge market opportunity in key sectors such as textiles and apparel, leather and footwear, plastic and rubber products, organic chemicals, home decor, artisanal products, and sele…