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Centre cuts import duty on phone parts. How will it help Made In India mobiles?

The import duty on parts such as battery covers, main camera lenses, back covers, other mechanical items of plastic and metal, has been reduced to 10%.

Representative Image: Mobile phone exports is projected to reach $15 billion in the current fiscal year.(AFP)
Published on Jan 31, 2024 01:40 PM IST

2023: A year of food-price and climate shocks

The year was particularly challenging one, as the country was hit by intense heatwaves, erratic rains, floods, droughts, storms and cyclones

The country prohibited overseas shipments of wheat in March 2022, white rice in July this year and onions this month. (PTI)
Updated on Dec 25, 2023 04:35 PM IST

India's trade exports fall by 1.7 lakh crore, now at $33.57 billion

India's merchandise trade deficit in November has narrowed sharply on subdued imports, falling to USD 33.57 billion.

India’s merchandise exports have seen a significant dip in November 2023. (Bloomberg File Photo)
Published on Dec 15, 2023 05:29 PM IST
Reuters |

Former Himachal CM Thakur accuses state govt of wasteful expenditure

Former Himachal CM Jai Ram Thakur has claimed that present state government has accumulated significant debt and accused them of wasteful expenditures

Thakur accused the present Himachal government of “cheating” the people. (HT File Photo)
Updated on Jun 20, 2023 12:02 AM IST
By, Shimla

Apple growers from Himachal, J&K, Uttarakhand protest at Jantar Mantar

The protest by apple growers from Himachal, J&K, Uttarakhand was organised a day before workers and farmers are holding a rally at the Ramlila Grounds on Wednesday over high inflation, low wages and farm crisis.

Apple farmers from Himachal Pradesh, Uttarakhand and Jammu and Kashmir on Tuesday participated in a protest at Jantar Mantar in Delhi over no import duty on imported apple and end of market intervention scheme by the Central government that allowed states to produce agriculture produce in 17 states. (HT Photo)
Updated on Apr 04, 2023 10:29 PM IST
By, New Delhi

India puts on hold proposal to cut import duty on edible oils: Report

The world's biggest vegetable oil importer was considering reducing duties after domestic soyoil and palm oil prices more than doubled in the past year, hitting consumers already stung by record fuel prices and reduced incomes amid Covid-19.

Demand from bulk buyers like hotels, restaurants and bakeries had already dropped after authorities imposed local lockdowns in response to a devastating second wave of coronavirus infections over recent months, dealers said.(Representational image)
Published on Jun 17, 2021 01:24 PM IST
Reuters | , New Delhi/mumbai

AC imports plunge by 87% in January

Several Japanese AC manufacturers have raised this matter through their embassy but have been “advised” to set up facilities in India as these restrictions are part of the government’s Make In India policy, said the people cited above.

Air conditioners installed at a building in New Delhi
Updated on Mar 15, 2021 05:50 AM IST
ByRajeev Jayaswal, , New Delhi

Soaring gold prices, slow market dampen Diwali sales as Ludhiana jewellers put onus on govt policies

According to the city jewellers, they are facing a slowdown of over 50%

HT Image
Updated on Oct 26, 2019 09:27 PM IST
ByAmarpal Singh, Ludhiana

Kharif output expected to fall this year

The upshot of a projected decline in food output is that it is expected to, at least slightly, push up flat food prices, especially of grains.

Subdued food inflation benefits consumers or net buyers of food items, but they also hurt farm incomes, especially because commodity prices are not keeping pace with rising costs of cultivation.(HT image)
Updated on Sep 11, 2019 03:51 AM IST
New Delhi | By

Donald Trump escalates tariff war with China, India will be watching closely

US president Donald Trump’s decision to hike tariffs on Chinese goods by additional five % has escalated the trade war between the two countries. India will be watching these developments very closely as the only other country, apart from China, to have hit back against Trump’s unilateral duty hikes.

Markets fell by close to 600 points after US President Donald Trump’s latest trade offensive against China(AP)
Updated on Aug 24, 2019 11:16 AM IST
Hindustan Times, Washington | ByYashwant Raj

Donald Trump’s China tariffs to increase cost of Bible, upsets religious groups

The US and China have been locked in a bruising trade war since Trump imposed heavy tariffs on imported steel and aluminium items from China in March last year, a move that sparked fears of a global trade war.

President Donald Trump speaks at the White House in Washington, Monday, June 24, 2019. Trump’s sudden decision against military strikes may have prevented open conflict with Iran, but it also showed him to be an unpredictable, if unreliable, partner at home and abroad. (AP Photo/Carolyn Kaster)(AP FILE)
Updated on Jun 26, 2019 11:21 AM IST
Washington | ByPress Trust of India

India can boost export of 300 products to US, China amid trade war: Report

The identification of these products is part of a study carried out by the ministry which states that the ongoing tariff or customs duties war between the US and China proves a big window of opportunity for enhancing India’s exports to these two nations.

The ongoing trade war between the US and China offers an opportunity to India for boosting exports of as many 350 products such as chemicals and granite to these countries(Bloomberg)
Updated on Jun 16, 2019 11:43 AM IST
New Delhi | ByPress Trust of India

Mike Pompeo to focus on defence, trade ties during visit to India

In a speech roughly etching the contours of his planned June 24 visit, Pompeo confirmed the US approval and offer of sale of high-tech defence equipment to India such as armed drones, Terminal High Altitude Area Defence (THAAD) and Patriot-3.

US Secretary of State Mike Pompeo (left) with PM Narendra Modi in New Delhi on September 06, 2018. (PTI file)
Updated on Jun 14, 2019 06:38 AM IST
Hindustan Times, Washington | ByYashwant Raj

US to end trade privileges for India on June 5, says Donald Trump

India is the biggest beneficiary of the GSP, which allows preferential duty-free imports of up to $5.6 billion from the South Asian nation.

Trump had announced his intention to remove India from the Generalized System of Preferences (GSP) program in early March.(AFP FILE)
Updated on Jun 01, 2019 11:07 AM IST
Washington | ByYashwant Raj

Fears rise China could weaponise rare earths in US tech war

China is one of the world’s major suppliers of rare earth metals, a group of 17 elements that are widely used in high-tech products ranging from flat-screen TVs to lasers and military equipment.

Xi was accompanied by vice-premier Liu He, the top negotiator with Washington amid the ongoing dispute.(HT Photo)
Updated on May 22, 2019 08:33 PM IST
Hindustan Times, Beijing | BySutirtho Patranobis

Donald Trump targets India on trade second time this week. Should New Delhi worry?

US president Donald Trump took yet another shot at India on ongoing trade differences and accused it Saturday of charging “over 100%” import duty on certain American goods.

U.S. President Donald Trump(REUTERS FILE PHOTO)
Updated on Apr 07, 2019 12:32 PM IST
Hindustan Times, Washington | ByYashwant Raj

EU launches WTO case against India over import duties

The European Commission, which oversees trade policy for the 28-member European Union, said in a statement that the total value of affected EU exports was more than 1 billion euros ($1.1 billion) per year.

In the case against India, the EU is challenging the introduction of import duties of between 7.5 and 20 percent for a wide range of IT products, such as mobile phones and components.(AP File Photo)
Updated on Apr 02, 2019 07:30 PM IST
Brussels | ByReuters

Piyush Goyal asks taxmen to refrain from being overzealous, advises biz to pay taxes ethically

The government in last few years has made an “honest attempt” to make the tax administration taxpayer friendly, and worked towards continuously bringing down tax rates, and make compliance easier.

Piyush Goyal, who was earlier this week given the additional charge of Finance Ministry, asked the taxmen to trust the customers with a great degree of intelligence, while adopting a customer friendly approach.(PTI Photo)
Updated on Jan 25, 2019 11:49 PM IST
Press Trust of India | ByPress Trust of India

‘India’s exports performance extremely good, but I’m not fully satisfied’: Suresh Prabhu

Commerce and Industry Minister Suresh Prabhu also hoped that the recently announced agri-export policy will help boost exports from the sector to USD 60 billion in the next five years and USD 100 billion in the next 10 years.

Union Minister of Commerce and Industry Suresh Prabhu said as India is one of the major exporter of services like IT and ITeS, the ministry’s strategy will have elements to promote services exports also.(PTI file photo)
Updated on Dec 26, 2018 12:17 PM IST
New Delhi | ByPress Trust of India

India again defers duty hike on 29 US products till January 31

Commerce and industry minister Suresh Prabhu will hold bilateral discussions on trade issues with US Commerce Secretary Wilbur Ross on February 14 in New Delhi.

India for the fourth time deferred the deadline to impose retaliatory customs duties on 29 US products, including almond, walnut and pulses, by another 45 days, the government has said.(AFP File Photo)
Updated on Dec 18, 2018 05:32 PM IST
New Delhi | ByPress Trust of India

US eyeing better trade deals with India, says Donald Trump

US president Donald Trump has referred to India as “tariff king” and raised a low-volume export– Harley-Davidson motorbikes – to call attention to India’s import duties.

US President Donald Trump described ties with India as a “bulwark for freedom, prosperity and peace”, spoke of his friendship with Prime Minister Narendra Modi and, trying to lighten bilateral trade talks, said Indians are “very good negotiators”.(PTI File Photo)
Updated on Nov 15, 2018 12:04 AM IST
Hindustan Times, Washington | ByYashwant Raj

Govt may not further hike import duty on non-essential items

The government, within a span of two weeks, has hiked import duty on a host of household items like refrigerators and air conditioners, and telecom and communications system products as it looked to cut import of non-essential items.

In the latest round of duty hike effective October 12, the Finance Ministry increased the levy of import of base station, IP Radios, soft switches and Voice over Internet Protocol (VoIP) equipments, and optical transport equipments, among others, to up to 20 per cent.(PTI File Photo)
Updated on Oct 14, 2018 01:10 PM IST
New Delhi | ByPress Trust of India

In second round of import duty hike, govt increases rate on communication equipment

Import duty on populated, loaded or stuffed printed circuit boards of all goods other than mobile phones, base station and optical transport equipments has been raised to 10 per cent.

Duty has also been raised to 20 per cent from 10 per cent for base stations and for machines for the reception, conversion and transmission or regeneration of voice, images or other data, including switching and routing apparatus other than modems, voice frequency telegraphy, digital loop carrier systems and multiplexers.(Getty Images/iStockphoto/Representative image)
Updated on Oct 12, 2018 10:04 AM IST
New Delhi | ByPress Trust of India

Government hikes customs duty on 17 items, list includes smart watches, telecom equipment

Products that have seen an increase from the current 10% duty to 20% include smart watches and telecom equipment.

The finance ministry also barred the use of imported electronic intermediate goods, mostly those used to make telecom equipment, in the local manufacture of the latter.(HT Photo)
Updated on Oct 12, 2018 07:50 AM IST
Hindustan Times, New Delhi | By

Jet Airways leads Indian airlines’ losses as government imposes import duty on aviation fuel

The finance ministry on Wednesday announced an import duty of five per cent on aviation turbine fuel which was nil earlier.

Jet Airways is seeking to raise funds and reduce debt as part of a turnaround plan.(Reuters File)
Updated on Sep 27, 2018 03:30 PM IST
Bloomberg | ByJill Ward

Customs duty hiked on ‘non-essential items’, flying, ACs, refrigerators to cost more

Curbing non-essential imports was part of the five-pronged steps announced by the government to check widening current account deficit and capital outflows.

The government Wednesday hiked customs duties on as many as 19 items, including jet fuel, ACs and refrigerators, effective midnight as it aims to curb imports of non-essential goods.(Bloomberg Photo)
Updated on Sep 26, 2018 07:59 PM IST
New Delhi | ByPress Trust of India

India proposes 25% safeguard duty on Chinese, Malaysian solar cells

India, the largest importer of Chinese solar equipment, first proposed a 70% safeguard duty in January to protect its local industry.

Under the proposed plan, the safeguard duty would be applicable for two years, India’s Directorate General of Trade Remedies, a unit of of the commerce ministry, said in the conclusion of its findings posted on its website Monday.(AFP Photo)
Updated on Jul 17, 2018 01:15 PM IST
Bloomberg | ByAnindya Upadhyay

Trump’s trade war has tied India and China in a marriage of convenience

Since May, China has made it easier for India to export non-Basmati rice, removed import duties on anti-cancer drugs and agreed to share data that predicts river flows between the two countries during the flood season.

Prime Minister Narendra Modi, right, shakes hands with Xi Jinping, China's president, as they arrive for delegation talks at Hyderabad House in New Delhi, India, on Thursday, September 18, 2014.(Graham Crouch/Bloomberg)
Updated on Jun 28, 2018 11:35 AM IST
Bloomberg | ByKarthikeyan Sundaram and Iain Marlow

India hits back at Donald Trump’s tariffs, raises import duties on agri, steel products

India raised tariffs on a slew of items in retaliation for the US imposing higher levies on some products shipped from the country, echoing steps taken by China, the European Union and other trading partners.

Pulses at a market in New Delhi. The import duty on chickpeas and bengal gram, or chana, has been increased to 70%.(Bloomberg)
Updated on Jun 21, 2018 01:35 PM IST
ByAgencies

China removes import duties on 28 medicines, including cancer drugs, India to get boost

China has exempted import tariffs (duties) for 28 drugs, including all cancer drugs, from May 1st

Cropped shot of hands removing prescription drugs from the bottle.(Getty Images/iStockphoto)
Updated on May 04, 2018 09:23 AM IST
Press Trust of India, New Delhi | ByPress Trust of India
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