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Time of India
3 days ago
- Business
- Time of India
India Exim Bank projects merchandise exports to amount to USD 108.1 bn in Q2 of FY26
New Delhi, Export-Import Bank of India ( India Exim Bank ) forecasts total merchandise exports to amount to USD 108.1 billion, a growth of 4.5 per cent, while non-oil exports are forecast to amount USD 92.1 billion, with a growth of 5.2 per cent, during July-September of FY26. Independence Day 2025 Before Trump, British used tariffs to kill Indian textile Bank of Azad Hind: When Netaji gave India its own currency Swadeshi 2.0: India is no longer just a market, it's a maker Non-oil and non-gems and jewellery exports are forecast to amount USD 82.7 billion, with a year-on-year growth of 2.3 per cent, during the second quarter, India Exim Bank said in a statement. Growth in India's exports could be as a result of base effect, along with expected continued buoyancy in manufacturing activity supported by increased capacity utilisation and congenial financial conditions, favourable prospects of current trade negotiations with several countries, and an expansionary monetary policy in India, it said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Could Be the Best Time to Trade Gold in 5 Years IC Markets Learn More Undo The outlook is, however, subject to risks of higher tariffs and global trade policy uncertainty affecting global demand, rising geo-economic fragmentation and persisting geo-political tensions, it said. Forecast of growth in India's total merchandise exports, non-oil exports, non-gems and jewellery exports are released by Exim Bank on a quarterly basis, during the first fortnight of the months of May, August, November, and February for the corresponding quarters, based on its Export Leading Index (ELI) model, it said. Live Events The next growth forecast for India's exports for the third quarter of FY26 (October-December 2025) would be released during the first fortnight of November 2025, it added.
The Print
24-06-2025
- Business
- The Print
India not tariff king, effective rate far lower, says Sitharaman
US President Donald Trump has repeatedly accused India of being a very high tariff nation. Trump had called India a 'tariff king' and a 'big abuser'. 'For those who still believe in the commentary which was made in the US that India may be the tariff king…I want two things to be remembered. Given our system of things, we seek parliamentary approval for deciding on the tariff rate…the permission to go up to a certain level but effectively you are at a far lower level,' she said. New Delhi, Jun 24 (PTI) Finance Minister Nirmala Sitharaman on Tuesday rejected the allegation that India is a 'tariff king' saying that her latest Budget brought down the number of tariff rates to eight and the effective rate is 'far lower'. She said that the number of tariff rates was brought down to eight in the 2025-26 Budget with a view to boosting domestic manufacturing and promoting exports. The finance minister made the remarks while inaugurating Trade Conclave by India Exim Bank here. She further said, 'our procedures have given us the not-so-desirable picture of being very very restrictive and regressive about tariff. Many of them are already far lower than the rate at which the gazette notification came after the approval of Parliament.' In the February Budget, Sitharaman had removed seven tariff rates. This was over and above the seven tariff rates removed in 2023-24 budget. 'So for those of us who still think there is still a tariff story in India, I want this to be clear, there are only just eight (tariff rates) including the zero rate. So we have done a lot of reforms in reducing the burden on trade by cutting down tariffs to support manufacturing and value addition, promote exports and to facilitate trade,' she said. With the significant reduction, India's average customs duty rate came down to 10.66 per cent from 11.65 per cent. It has moved closer to the same levels as prevalent in the Southeast Asian countries. The 10-nation bloc ASEAN (Association of Southeast Asian Nations) countries are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. PTI DP DP ANU ANU This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
