"Going To Have Access To India": Trump's Big Hint On Trade Deal
Trump said the proposed deal could provide American companies greater access to the Indian market in line with the trade pact between the US and Indonesia.
India and the US have been holding negotiations for the trade pact primarily to keep the tariffs below 20 per cent.
"We made a deal with Indonesia...We have full access into Indonesia," the US president told reporters.
The US president said his administration is going to announce a few other trade deals and mentioned India in that context.
Under the trade deal, Indonesia is giving the US access to the country, which we never had, Trump said.
"That's probably the biggest part of the deal...India is basically working along that same line. We are going to have access to India," he said.
Washington has already sent letters to several countries sharing details of reciprocal tariff rates that would come into effect on August 1.
New Delhi hopes it will be able to strike a deal with the US to avoid the reciprocal tariffs.
At the same time, India has indicated that it will not enter into the trade deal in a hurry.
India does not enter into any trade agreement based on deadlines and will accept the proposed trade deal with the US only when it is fully finalised, properly concluded and in the national interest, Commerce Minister Piyush Goyal said earlier this month.
An Indian commerce ministry team is in Washington for another round of talks on the proposed trade agreement.
India has hardened its position on the US demand for duty concessions on agri and dairy products. New Delhi has, so far, not given any duty concessions to any of its trading partners in a free trade agreement in the dairy sector.
New Delhi is seeking the removal of this additional tariff (26 per cent). It is also seeking the easing of tariffs on steel and aluminium (50 per cent) and the auto (25 per cent) sectors.
President Trump announced heavy tariffs on a number of countries, including India, on April 2. However, it was soon postponed for 90 days until July 9 and later to August 1.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fashion Value Chain
8 minutes ago
- Fashion Value Chain
KSH Distriparks, Evergreen Line Partner for Pune Logistics
KSH Distriparks, a key player in container logistics, has joined hands with global shipping major Evergreen Line to improve container availability at ICD Talegaon, near Pune. The initiative ensures continuous access to 40' High Cube containers, enabling both import drop-offs and export pick-ups from this inland facility. Initially, 45–50 High Cube containers will be maintained on-site, with a monthly movement target of 200 containers. Plans are underway to introduce additional 40FT and 20FT dry containers, further expanding the logistics support for regional exporters. This move significantly reduces the need to reposition empty containers from Nhava Sheva to Pune, translating into notable savings on fuel, operational time, and logistics costs. It also supports sustainability efforts by lowering carbon emissions linked to unnecessary container transport. The partnership strategically combines Evergreen's global shipping capabilities with KSH Distriparks' expertise in inland logistics, presenting exporters with a streamlined, one-stop international cargo solution. Malcolm Dsouza, CEO, KSH Distriparks, said: 'Pune is a major export and manufacturing hub. Our tie-up with Evergreen Line allows us to deliver seamless logistics solutions that align with India's multimodal growth and sustainability goals.' Ken Chen, Junior VP – Business Development, Evergreen Line, added: 'By improving container access at ICD Talegaon, we are reducing logistics friction and enhancing service reliability for key export sectors around Pune, including automotive, engineering, and electronics. This initiative also supports national logistics cost reduction and port decongestion.' The collaboration directly supports India's PM Gati Shakti initiative by reinforcing the role of ICDs like Talegaon in creating an integrated logistics network. It also contributes to smoother inland-container connectivity, a crucial element for boosting exports and making Indian manufacturing globally competitive.
Time of India
8 minutes ago
- Time of India
Every founder wants an IPO. Few know what it takes—until the ET Soonicorns Summit 2025
Arpit Chug, CFO, Razorpay: Academy Empower your mind, elevate your skills Sohil Parekh, CFO, Ather Energy: Building the financial narrative: Beyond just presenting numbers, the CFO must craft a compelling equity story that resonates with investors. This involves benchmarking the company's profitability against peers, identifying opportunities for improvement, and clearly articulating the long-term value creation strategy. Achieving financial and technological readiness: A successful IPO requires rock-solid financial foundations. This means implementing robust enterprise resource planning (ERP) systems, strengthening internal financial controls to meet public company standards, and building proficient finance teams across functions such as Financial Planning & Analysis (FP&A), Investor Relations (IR), and compliance. A significant number of IPO filings face delays or rejection due to disorganized reporting and weak governance, making this foundational work critical. Navigating the regulatory maze: The CFO must be the vanguard of compliance, ensuring every aspect of the company's operations and disclosures meets SEBI's stringent requirements. This includes meticulous oversight of related party transactions and ensuring the board structure is aligned with governance norms. Driving strategic capital allocation: As the custodian of shareholder funds, the CFO plays a pivotal role in deciding how capital is used, whether it's for reinvestment, acquisitions, or returning value to shareholders, all while ensuring a healthy return on capital. The Indian startup ecosystem is buzzing with renewed optimism for Initial Public Offerings (IPOs) in 2025. After a period of cautious sentiment, the market is showing signs of a robust comeback, with a strong pipeline of new-age companies gearing up to hit the public markets. This resurgence, however, comes with a transformed playbook. The 'growth at all costs' narrative that defined the previous tech boom has been firmly replaced by a demand for sustainable profitability, strong corporate governance, and clear financial this high-stakes environment, the role of the Chief Financial Officer (CFO) has evolved from a traditional bookkeeper to a strategic co-pilot for the founder. Navigating the complexities of a public listing in 2025 requires a CFO to be a master of financial strategy, a transparent storyteller, and a vigilant guardian of regulatory compliance. To shed light on this critical journey, the ET Soonicorns Summit 2025, scheduled for August 22nd in Bengaluru, will host a masterclass titled 'From Pre-IPO to Bell Ringing: The CFO Playbook for Navigating 2025's High-Stakes Market.'This crucial session at the ET Soonicorns Summit will feature two distinguished CFOs who are at the helm of financial strategy in some of India's most dynamic startups:Arpit Chug brings a wealth of experience from the highly regulated and complex world of financial services to his role at digital payments firm, the IPO-bound Razorpay , a leading fintech giant. Before joining Razorpay as its first-ever CFO, he spent 17 years at American Express, where he led finance teams across multiple verticals and geographies. At Razorpay, Chug is responsible for the finance, credit risk, and legal functions and has been instrumental in scaling the company's lending and neo-banking arms, Razorpay Capital and RazorpayX. He believes in telling financial stories through numbers and is focused on the '3Cs': effective capital allocation, robust compliance, and strategic cost management. His deep experience is vital as Razorpay, a company valued in the billions, reportedly intensifies its focus on profitability in preparation for an eventual Parekh is steering the financial journey of Ather Energy, a pioneer in India's competitive and capital-intensive electric vehicle (EV) market. His appointment as CFO was a strategic move to prepare the company for its planned public offering. Parekh, who joined Ather after more than seven years at Claris Lifesciences, took the financial reins at a critical time, tasked with guiding the company through its next phase of growth and its IPO journey. Ather has already navigated significant challenges, including the implementation of the FAME 2 scheme, and is closely watched as a bellwether for the EV manufacturing sector. Parekh's recent communications—via public statements and strategic updates—underscore the CFO's critical role in articulating Ather's financial roadmap and post-IPO session will delve into the key strategies and shifts in the IPO playbook that founders and their finance chiefs must execute for a successful listing in the current market. As the IPO landscape evolves, so do the challenges and expectations. Today's CFOs must be adept at building a compelling equity story, ensuring the company is technologically ready for the rigours of public market reporting, and navigating the ever-changing regulatory numbers paint a picture of a market on the upswing. In the second half of 2025, a massive ₹2.58 lakh crore worth of offerings are in the pipeline , a testament to renewed confidence. This follows a strong first half of the year, where 26 companies raised ₹52,200 crore . The momentum is fuelled by several factors, including strong domestic investor participation—particularly from mutual funds flush with capital from systematic investment plans (SIPs)—and private equity firms seeking profitable exits as their fund cycles this enthusiasm is tempered by a discerning investor base that now prioritises substance over sizzle. The era of valuing companies based on vanity metrics such as Gross Merchandise Value (GMV) or downloads is over. Public market investors now demand a clear line of sight to profitability, focusing on key performance indicators (KPIs) such as profit after tax (PAT), return on equity (RoE), and positive unit economics. This shift means that the IPO journey now begins much earlier, with a relentless focus on building a fundamentally sound and sustainable business model long before the bell-ringing to the complexity are recent regulatory shifts by the Securities and Exchange Board of India (SEBI). In a bid to protect retail investors and enhance corporate governance, SEBI has introduced stricter norms. These include capping the quantum of shares that existing shareholders of loss-making firms can sell in an IPO and tightening disclosure requirements around KPIs and past fundraising valuations. While some recent changes, including allowing founders to retain employee stock ownership plans (ESOPs) post-IPO, aim to make listing more attractive for startups, the overall message is clear: the path to a public listing is more rigorous and demands a higher standard of new era calls for a strategic CFO who can do much more than manage the books. The pre-IPO journey is an intense period of transformation, and the CFO is the chief architect. This masterclass will explore the core pillars of the modern CFO's playbook:The journey from a private startup to a publicly-listed entity is more challenging and scrutinised than ever before. The market's memory of tech IPOs that faltered post-listing has created a more discerning and demanding investor. Success in 2025 is not just about having a disruptive idea; it is about demonstrating a sustainable business model, impeccable governance, and a clear, profitable path founders and boards, this means recognising the strategic importance of the CFO far earlier in the company's lifecycle. Nearly nine out of ten conversations about hiring CFOs in the startup ecosystem are now centered on IPO preparedness. The role has transformed into a strategic partner to the CEO, responsible for architecting the value creation narrative and ensuring the entire organisation is ready for the intense scrutiny of public life. This masterclass at the ET Soonicorns Summit 2025, led by financial leaders who are actively navigating these waters, is therefore an unmissable opportunity. It promises to equip the next generation of founders and finance chiefs with the essential strategies and insights needed to not just ring the bell, but to build enduring value in the public markets long after the listing day celebrations have ended.360 One is the presenting partner of the ET Soonicorns Summit 2025.
Time of India
8 minutes ago
- Time of India
Amid hectic meetings and tight schedules, Modi-Starmer Chai pe Charcha
Read more on Indian Prime Minister Narendra Modi and UK Prime Minister Keir Starmer engaged in a "Chai Pe Charcha" business event, strengthening India-UK ties
