Latest news with #PiyushGoyal
Khaleej Times
3 hours ago
- Business
- Khaleej Times
Trump says US 'very close to making deal with India', trade talks with Pakistan next week
US President Donald Trump said on Friday representatives from Pakistan are going to the United States next week as the South Asian country seeks to make a deal on tariffs. Pakistan faces a potential 29% tariff on its exports to the United States due to a $3 billion trade surplus with the world's biggest economy, under tariffs announced by Washington last month on countries around the world. Trump said he would have no interest in making a deal with the South Asian country or its neighbor, India, if they were to engage in war with each other. The two nuclear-armed rivals used fighter jets, missiles, drones and artillery in four days of clashes this month, their worst fighting in decades. "As you know, we're very close making a deal with India," Trump told reporters at Joint Base Andrews after departing Air Force One. Indian Trade Minister Piyush Goyal visited Washington recently to advance trade talks, with both sides aiming to sign an interim agreement by early July. India faces 26% tariffs on shipments to the US Reuters reported last week that India is likely to allow US firms to bid for contracts worth over $50 billion, mainly from federal entities, as it negotiates a trade deal with Washington.
Arab News
7 hours ago
- Business
- Arab News
Trump says Pakistani representatives coming to US next week for trade talks
WASHINGTON: US President Donald Trump said on Friday representatives from Pakistan are coming to the United States next week as the South Asian country seeks to make a deal on tariffs. Pakistan faces a potential 29 percent tariff on its exports to the United States due to a $3 billion trade surplus with the world's biggest economy, under tariffs announced by Washington last month on countries around the world. Trump said he would have no interest in making a deal with the South Asian country or its neighbor, India, if they were to engage in war with each other. The two nuclear-armed rivals used fighter jets, missiles, drones and artillery in four days of clashes this month, their worst fighting in decades. 'As you know, we're very close making a deal with India,' Trump told reporters at Joint Base Andrews after departing Air Force One. Indian Trade Minister Piyush Goyal visited Washington recently to advance trade talks, with both sides aiming to sign an interim agreement by early July. India faces 26 percent tariffs on shipments to the US. Reuters reported last week that India is likely to allow US firms to bid for contracts worth over $50 billion, mainly from federal entities, as it negotiates a trade deal with Washington.
Al Arabiya
8 hours ago
- Business
- Al Arabiya
Trump says Pakistani representatives coming to US next week for trade talks
US President Donald Trump said Friday that representatives from Pakistan will visit the United States next week as the South Asian country seeks to negotiate a trade deal. Pakistan is facing the prospect of a 29 percent tariff on its exports to the US due to a $3 billion trade surplus, under tariffs Washington announced last month on multiple countries. Trump said he had no interest in making a deal with either Pakistan or its neighbor India if the two were to engage in conflict. The nuclear-armed rivals exchanged fighter jets, missiles, drones, and artillery in four days of clashes this month — their worst fighting in decades. 'As you know, we're very close [to] making a deal with India,' Trump told reporters at Joint Base Andrews after departing Air Force One. Indian Trade Minister Piyush Goyal recently visited Washington to advance negotiations, with both sides aiming to sign an interim agreement by early July. India currently faces 26 percent tariffs on its shipments to the US. Reuters reported last week that India is likely to allow US firms to bid on contracts worth over $50 billion, mainly from federal entities.
Reuters
10 hours ago
- Business
- Reuters
Trump says Pakistani representatives coming to US next week for trade talks
WASHINGTON, May 30 (Reuters) - U.S. President Donald Trump said on Friday representatives from Pakistan are coming to the United States next week as the South Asian country seeks to make a deal on tariffs. Pakistan faces a potential 29% tariff on its exports to the United States due to a $3 billion trade surplus with the world's biggest economy, under tariffs announced by Washington last month on countries around the world. Trump said he would have no interest in making a deal with the South Asian country or its neighbor, India, if they were to engage in war with each other. The two nuclear-armed rivals used fighter jets, missiles, drones and artillery in four days of clashes this month, their worst fighting in decades. "As you know, we're very close making a deal with India," Trump told reporters at Joint Base Andrews after departing Air Force One. Indian Trade Minister Piyush Goyal visited Washington recently to advance trade talks, with both sides aiming to sign an interim agreement by early July. India faces 26% tariffs on shipments to the U.S. Reuters reported last week that India is likely to allow U.S. firms to bid for contracts worth over $50 billion, mainly from federal entities, as it negotiates a trade deal with Washington.
The Print
20 hours ago
- Business
- The Print
India's Q4 GDP growth beats estimates at 7.4%, FY 2024-25 annual projection at 6.5%
The Reserve Bank of India had projected 6.5 per cent GDP growth for the fiscal year 2024-25. According to NSO's second advance estimates, the country's economy was projected to grow at 6.5 per cent in 2024-25. New Delhi : As was widely expected, the Indian economy grew by 6.5 per cent in real terms in the recently concluded financial year 2024-25, Ministry of Statistics and Programme Implementation's official data showed on Friday. In 2023-24, India's GDP grew by an impressive 9.2 per cent, continuing to be the fastest-growing major economy. According to official data, the economy grew 8.7 per cent and 7.2 percent, respectively, in 2021-22 and 2022-23. The Ministry of Finance, in a report in March 2025, anticipated that Indian economy would achieve a growth rate of 6.5 per cent in 2024-25, despite considerable external headwinds. The Finance Ministry monthly report added that the performance of the economy in the past quarters was driven by strong agricultural and service sector performance on the supply side and a steady increase in consumption and core merchandise and services exports on the demand side. The official GDP growth data for the January-March quarter was also released today. The economy grew 7.4 per cent during the quarter. During the April-June, July-September, and October-December 2024 quarters, the country's economy, in real terms, observed a growth rate of 6.7 per cent, 5.6 per cent, and 6.2 per cent, respectively. In a projection on Thursday evening, Union Minister for Commerce and Industry Piyush Goyal said that India is set to remain the fastest-growing large economy in the world for the next 30 years. At the CII annual event, Minister Goyal said the country has maintained a steady growth rate of 6-7 per cent and aims to push it further to 8 per cent at constant prices. He noted that despite global uncertainties, India remains one of the best-performing emerging markets. This February, the World Bank said India will need to grow by 7.8 per cent on average over the next 22 years to achieve its aspirations of becoming a developed country by 2047. However, the World Bank asserted that getting there would require reforms and their implementation to be as ambitious as the target itself. To realise the vision of 'Viksit Bharat', a developed nation dream by 2047, India will need to achieve a growth rate of around 8 per cent at constant prices, on average, for about a decade or two, the Economic Survey document for 2024-25 tabled on January 31 asserted. India has made quite a turnaround, climbing the ladder of economic growth. This can be gauged from the 11th in 2013-14, India has positioned itself to become the fourth largest economy. Even as India has overtaken many countries in terms of the size of the economy over the past decade, the per capita income in India remains very low. In 2013, India was placed in the league of 'Fragile 5' economies. The term 'Fragile 5' was coined by a Morgan Stanley analyst and refers to a set of five emerging countries, including India, whose economies were not doing well. The other four countries were Brazil, Indonesia, South Africa, and Turkey. This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content.
