Citing India’s steep 52% tariff burden on US goods, US President said he opted for a calibrated response by imposing half in return.
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India aims to reduce compliance hurdles for UPI in cross-border payments, seeking Financial Action Task Force’s (FATF) support to enhance its global use and competitiveness in the international payments market.
Compared to major US trade partners like Mexico, China, and Canada — which collectively account for 50% of American imports — India is in a more advantageous position, according to Niti Aayog Programme Director Pravakar Sahoo.
Over 300 skilled jobs in the local supply chain will be part of new contracts signed with Bridgend-based companies Darlow Lloyd and Sons, Wernick Buildings, and Swansea-based business, Andrew Scott Ltd.
So far in FY 25, the AC industry has seen a good demand amid rising temperatures and increasing disposable incomes.
Rising economic fundamentals, a strong manufacturing sector, and a growing middle class position India as a key player in the global economy despite external challenges.
India's steel industry remains largely unaffected by Trump's tariff hike from 10% to 25%, as exports to the US are minimal, and the domestic market remains strong, per steel secretary Sandeep Poundrik
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