Border, Buddhism, and Business: Jaishankar's First China Visit Since Galwan Aims Diplomatic Push
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Mint
27 minutes ago
- Mint
Trump Tariffs: Textile Ministry to meet top industry players next week, say sources
New Delhi, Union Textiles Minister Giriraj Singh will meet industry stakeholders next week to deliberate upon the potential impact of US President Donald Trump's announcement to impose a 25 per cent tariff on India and seek their views on the issue, according to sources. The US is India's largest market for textile and apparel exports, accounting for about 25 per cent of the country's total outbound shipment from the sector. Discussions in the meeting will also revolve around realising opportunities arising for India's textile sector from the UK-India FTA, which was signed last month, as the government and industry want to leave no stone unturned to achieve the textile export target of USD 100 billion by 2030, and mitigate the potential impact of the US tariff announcement, sources told PTI. While it would be "premature" to talk about any measures being considered to support domestic textile exporters in light of the US announcement, they said, the government wants to seek the industry's feedback at this juncture and discuss the challenges and opportunities in terms of the UK-India FTA and other markets with untapped potential. "We are continuously engaging with the industry. The minister has asked for a meeting. We will be talking to different players, the major garment export firms from India. Discussions will also revolve around realising opportunities arising for the textile sector from the UK-India FTA," according to sources. "The industry has set a target of USD 100 billion by 2030, which it is keen to achieve. So, they are looking at a variety of products and also at different markets. They are looking at strengthening and consolidating the existing markets. The government has also announced the Export Promotion Mission." The US on Friday slapped a 25 per cent tariff on India, potentially impacting about half of the USD 86 billion Indian exports to America, while the other half, including pharmaceuticals, electronics, and petroleum products, continued to be exempted from the levy. The sectors, which would bear the brunt of 25 per cent duty include textiles/ clothing , gems and jewellery , shrimp , leather and footwear , animal products , chemicals , and electrical and mechanical machinery . This article was generated from an automated news agency feed without modifications to text.
The Hindu
27 minutes ago
- The Hindu
China and Russia start joint naval drills in Sea of Japan
China and Russia began joint naval drills in the Sea of Japan on Sunday (August 3, 2025) as they seek to reinforce their partnership and counterbalance what they see as a U.S.-led global order. Alongside economic and political ties, Moscow and Beijing have strengthened their military cooperation in recent years, and their relations have deepened since Russia invaded Ukraine in February 2022. Also read: China says ready to 'expand practical cooperation' with Russian Army The 'Joint Sea-2025' exercises kicked off in waters near the Russian port of Vladivostok and would last for three days, China's defence ministry said in a statement on Sunday (August 3, 2025). The two sides will hold 'submarine rescue, joint anti-submarine, air defence and anti-missile operations, and maritime combat'. Four Chinese vessels, including guided-missile destroyers Shaoxing and Urumqi, are participating in the exercises alongside Russian ships, the Ministry said. After the drills, the two countries will conduct naval patrols in 'relevant waters of the Pacific'. China and Russia have carried out annual drills for several years, with the 'Joint Sea' exercises beginning in 2012. Last year's drills were held along China's southern coast. The Chinese Defence Ministry said Friday (August 1, 2025) that this year's exercises were aimed at 'further deepening the comprehensive strategic partnership' of the two countries. China has never denounced Russia's more than three-year war nor called for it to withdraw its troops, and many of Ukraine's allies, including the United States, believe that Beijing has provided support to Moscow. China insists it is a neutral party, regularly calling for an end to the fighting while also accusing Western countries of prolonging the conflict by arming Ukraine.
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Business Standard
27 minutes ago
- Business Standard
Textile ministry likely to meet industry players next week over US tariffs
Union Textiles Minister Giriraj Singh will meet industry stakeholders next week to deliberate upon the potential impact of US President Donald Trump's announcement to impose a 25 per cent tariff on India and seek their views on the issue, according to sources. The US is India's largest market for textile and apparel exports, accounting for about 25 per cent of the country's total outbound shipment from the sector. Discussions in the meeting will also revolve around realising opportunities arising for India's textile sector from the UK-India FTA, which was signed last month, as the government and industry want to leave no stone unturned to achieve the textile export target of USD 100 billion by 2030, and mitigate the potential impact of the US tariff announcement, sources told PTI. While it would be "premature" to talk about any measures being considered to support domestic textile exporters in light of the US announcement, they said, the government wants to seek the industry's feedback at this juncture and discuss the challenges and opportunities in terms of the UK-India FTA and other markets with untapped potential. "We are continuously engaging with the industry. The minister has asked for a meeting. We will be talking to different players, the major garment export firms from India. Discussions will also revolve around realising opportunities arising for the textile sector from the UK-India FTA," according to sources. "The industry has set a target of USD 100 billion by 2030, which it is keen to achieve. So, they are looking at a variety of products and also at different markets. They are looking at strengthening and consolidating the existing markets. The government has also announced the Export Promotion Mission." The US on Friday slapped a 25 per cent tariff on India, potentially impacting about half of the USD 86 billion Indian exports to America, while the other half, including pharmaceuticals, electronics, and petroleum products, continued to be exempted from the levy. The sectors, which would bear the brunt of 25 per cent duty include textiles/ clothing (10.3 billion), gems and jewellery (12 billion), shrimp (USD 2.24 billion), leather and footwear (USD 1.18 billion), animal products (USD 2 billion), chemicals (2.34 billion), and electrical and mechanical machinery (about USD 9 billion). (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
