Backing his cause for the reciprocal tariffs, US president accused Joe Biden's 'sleepy' presidency for trade surplus & said that tariffs will bring in money into America.
US Secretary of Commerce Howard Lutnick Friday urged New Delhi to reduce its reliance on Russian defence platforms and hit out at BRICS for its de-dollarisation efforts.
Use of tariffs stems from the urgency to curb rising US trade imbalance. US trade deficit in goods widened to $1.2 trillion in calendar year 2024 from $1.06 trillion in 2023.
Senior White House officials also said that a new defence framework is close to being signed, while the US President is likely to push New Delhi to purchase more American oil.
India posted healthy growth in exports in October, even as imports grew sequentially. Donald Trump’s policy stance will have significant impact on India’s trade balance with US.
India-US trade in first 3 yrs under Biden was $122 bn, while it was $83 bn in Trump’s first term. Average trade surplus in India’s favour grew from $18 bn under Trump to $31 bn under Biden.
Despite contraction in exports, India’s merchandise trade deficit improved in 2023-24, owing to steeper drop in imports. However, the trade deficit with China & Russia widened.
India’s merchandise trade deficit dipped to 12-month low of $17.7 bn in Jan, while services trade surplus rose to record $16.5 bn. Services exports jumped by more than $4 bn in December.
Data reveals that most of rise in imports is on account of 'input goods' or capital goods. Import of electronics, electrical machinery & their parts is up by 37% from last year.
Commerce Secretary B.V.R. Subrahmanyam says country's trade deficit surged in July as elevated commodity prices and depreciating rupee inflated its import bill.
PM Modi has got his mojo back after Operation Sindoor. The only regret he must have, is why he allowed his party colleagues to malign and denigrate our armed forces with impunity. Was politics worth it?
While digital assets are speeding ahead, the tech and regulatory frameworks behind them aren’t keeping up. Each blockchain still operates with its own governance, standards andcompliance assumptions.
Speaking at CII event, Defence Secy Rajesh Kumar Singh also said MoD is revising Defence Acquisition Procedure (DAP) 2020 to better align with operational realities and expedite decision-making.
Asim Munir locked up Imran Khan, had his handmaiden parliament give himself an extended tenure. But the additional jingle of that fifth star will not change facts on the ground.
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