India's overall exports may cross $1 trillion mark in FY26: FIEO President
CEO and Director General of FIEO Ajay Sahai said exports of Apple iPhones and other smartphones are likely to post robust growth despite the US tariffs.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
7 hours ago
- Time of India
FIEO worried over US tariff hikes on steel, aluminium
The Federation of Indian Export Organisations ( FIEO ) Saturday raised concerns about potential disruption to India's steel and aluminium exports to the US after President Donald Trump's announcement of a plan to double import tariffs on steel and aluminium to 50 per cent from 25 per cent. They particularly fear that the exports of value-added and finished steel products and auto-components, stainless steel pipes, and structural steel components could be hurt. This potential increase comes under Section 232 of the US Trade Expansion Act of 1962, a law that allows the president to impose tariffs or other trade restrictions if imports are deemed a threat to national security. "These products are part of India's growing engineering exports, and higher duties could erode our price competitiveness in the American market," said SC Ralhan , president, FIEO. India exported approximately $6.2 billion worth of steel and finished steel products to the US in FY25 including a wide range of engineered and fabricated steel components and about $0.86 billion of aluminium and its products. The US is among the top destinations for Indian steel manufacturers, who have been gradually increasing market share through high-quality production and competitive pricing. Exporters said that though the decision stems from domestic policy considerations in the US, such sharp increases in tariffs send discouraging signals to global trade and manufacturing supply chains. India and the US are negotiating a Bilateral Trade Agreement and exporters said that the move will complicate the talks. "It's unfortunate that while BTA negotiations are going on, such unilateral tariff increases should be done. It only makes the work of the negotiators much more difficult and complicated. This will definitely impact the engineering exports, which are about $5 billion under this head," Pankaj Chadha, chairman EEPC India. Chadha added that since the UK has been given exemption from Section 232, the same exemption should also be given with TRQ restrictions to India. "We urge the government to take up the issue at the bilateral level to ensure that Indian exporters are not unfairly 25 per cent additional duty will be a huge burden, which is difficult to be absorbed by the exporter/importer," Ralhan said. On March 8, 2018, the US promulgated safeguard measures on certain steel and aluminium articles by imposing 25 per cent and 10 per cent ad valorem tariffs respectively on such products with effect from March 23, 2018. On February 10, 2025, it revised the safeguard measures on imports of steel and aluminium articles, effective from March 12. New Delhi said that the US failed to notify the WTO Committee about a decision to apply safeguard measures and as an affected member with significant export interest, it has requested consultations with Washington and proposed retaliation against the measure.
Time of India
a day ago
- Time of India
Indian exporters worried over US tariff hikes on steel, aluminium goods
The Federation of Indian Export Organisations ( FIEO ) has expressed concern over the recent announcement by US President Donald Trump to double import tariffs on steel and aluminium from 25 per cent to 50 per cent, citing potential disruption to India 's steel and aluminium exports, particularly in value-added and finished steel products and auto- components. Reacting to the development, FIEO president S.C. Ralhan stated that the proposed increase in US steel and aluminium import tariffs will have a significant bearing on India's steel exports, especially in semi-finished and finished categories like stainless steel pipes, structural steel components, and automotive steel parts. "These products are part of India's growing engineering exports, and higher duties could erode our price competitiveness in the American market," he said. India exported approximately $6.2 billion worth of steel and finished steel products to the USA in the financial year 2024-25, including a wide range of engineered and fabricated steel components and about $0.86 billion of aluminium and its products. The US is among the top destinations for Indian steel manufacturers, who have been gradually increasing their market share through high-quality production and competitive pricing. The FIEO president further added that while it is understandable that the decision stems from domestic policy considerations in the US, such sharp increases in tariffs send discouraging signals to global trade and manufacturing supply chains. "We urge the Government to take up the issue at the bilateral level to ensure that Indian exporters are not unfairly disadvantaged as 25 per cent additional duty on steel shipments will be a huge burden, which is difficult to be absorbed by the exporter or importer. The FIEO chief also emphasised the need for Indian exporters to diversify their markets and invest in higher-grade value-added products to mitigate the impact of such protectionist measures. Meanwhile, as part of ongoing discussions on the India-US Bilateral Trade Agreement , representatives of India's Department of Commerce and the Office of the US Trade Representative held fruitful discussions at a meeting in Washington from April 23-25 to conclude the first tranche of the Bilateral Trade Agreement by Fall (September-October) of 2025, The ongoing discussions are part of bilateral efforts in line with the Leaders' Statement. Prime Minister Narendra Modi , during his visit to Washington in February this year, held talks with US President Donald Trump on negotiating the first tranche of a mutually beneficial, multi-sector Bilateral Trade Agreement by the fall of 2025. The two leaders resolved to deepen the US-India trade relationship to promote growth that ensures fairness, national security and job creation. To this end, the leaders set a bold new goal for bilateral trade - 'Mission 500' -- aiming to more than double total bilateral trade to $500 billion by 2030. --IANS sps/uk
Time of India
2 days ago
- Time of India
Indian exporters worried over US tariff hikes on steel, aluminium goods, ET Manufacturing
Advt Advt Advt Advt Join the community of Top industry professionals Subscribe to our newsletter to get latest insights & analysis. Get updates on your preferred social platform Follow us for the latest news, insider access to events and more. New Delhi: The Federation of Indian Export Organisations ( FIEO ) has expressed concern over the recent announcement by US President Donald Trump to double import tariffs on steel and aluminium from 25 per cent to 50 per cent, citing potential disruption to India 's steel and aluminium exports, particularly in value-added and finished steel products and auto- to the development, FIEO president S.C. Ralhan stated that the proposed increase in US steel and aluminium import tariffs will have a significant bearing on India's steel exports, especially in semi-finished and finished categories like stainless steel pipes, structural steel components, and automotive steel parts."These products are part of India's growing engineering exports, and higher duties could erode our price competitiveness in the American market," he exported approximately $6.2 billion worth of steel and finished steel products to the USA in the financial year 2024-25, including a wide range of engineered and fabricated steel components and about $0.86 billion of aluminium and its products. The US is among the top destinations for Indian steel manufacturers, who have been gradually increasing their market share through high-quality production and competitive FIEO president further added that while it is understandable that the decision stems from domestic policy considerations in the US, such sharp increases in tariffs send discouraging signals to global trade and manufacturing supply chains."We urge the Government to take up the issue at the bilateral level to ensure that Indian exporters are not unfairly disadvantaged as 25 per cent additional duty on steel shipments will be a huge burden, which is difficult to be absorbed by the exporter or FIEO chief also emphasised the need for Indian exporters to diversify their markets and invest in higher-grade value-added products to mitigate the impact of such protectionist as part of ongoing discussions on the India-US Bilateral Trade Agreement , representatives of India's Department of Commerce and the Office of the US Trade Representative held fruitful discussions at a meeting in Washington from April 23-25 to conclude the first tranche of the Bilateral Trade Agreement by Fall (September-October) of 2025,The ongoing discussions are part of bilateral efforts in line with the Leaders' Statement. Prime Minister Narendra Modi , during his visit to Washington in February this year, held talks with US President Donald Trump on negotiating the first tranche of a mutually beneficial, multi-sector Bilateral Trade Agreement by the fall of two leaders resolved to deepen the US-India trade relationship to promote growth that ensures fairness, national security and job creation. To this end, the leaders set a bold new goal for bilateral trade - 'Mission 500' -- aiming to more than double total bilateral trade to $500 billion by 2030.--IANSsps/uk
