Latest news with #RajeshAgarwal
Time of India
31-07-2025
- Business
- Time of India
Trump's 25% tariffs: Government starts talks, industry seeks sops to offset hit
NEW DELHI: Within hours of President Trump announcing a 25% tariff on Indian exports to the US, the commerce department sought to comfort exporters while also nudging them to explore other markets. Tired of too many ads? go ad free now Exporters responded with suggestions that govt offer them assistance to overcome the adverse impact of US actions. During consultations led by Rajesh Agarwal, special secretary in the commerce department, exporters suggested govt immediately come up with measures that would also boost sentiment. "There is low-hanging fruit govt can address immediately," said a source in an export promotion council. A senior govt official told TOI the commerce department was also seeking to speed up reforms for special economic zones, which would help exporters as well as boost capacity utilisation by making it easier to sell in the domestic tariff area (Indian territory outside SEZs). One of the recommendations from exporters was to immediately start the export promotion mission, announced in the Budget but yet to become operational. In fact, during a meeting with commerce & industry minister Piyush Goyal, some of the elements, including marketing support and assistance to deal with trade actions, were also discussed. Although the outlay is a little over Rs 4,000 crore for the current financial year, the department is hopeful of the allocation being increased. While only a handful of industry bodies have sent their inputs so far, interest subsidies are something several executives said were required to help exporters tide over the crisis as it would hurt orders in the short term and might create some cash flow issues as well. "There is also a need to process duty drawback claims and GST refunds for exporters faster to ensure adequate liquidity," said another executive with an export promotion body. Tired of too many ads? go ad free now While exporters had queries on the "penalty" proposed by Trump, govt officials said they were awaiting clarity on the issue. Businesses have suggested an early bilateral trade agreement with the US will reduce disruption in the market, and are hoping for positive news during the next round of talks from Aug 25.
The Hindu
29-07-2025
- Business
- The Hindu
Sabari rail project: Railway Board holds meet with Chief Secretary
A team from the Railway Board held discussions with Chief Secretary A. Jayathilak in Thiruvananthapuram on Tuesday to explore ways to take the Sabari Rail project forward. Official sources said the delegation, which included Additional Railway Board Member Rajesh Agarwal, Chief Administrative Officer Om Prakash, and Kerala Rail Development Corporation (KRDC) Managing Director Ajith Kumar, held deliberations on cost-sharing arrangements and land acquisition for the project. Another round of meeting to deliberate in detail on these aspects will be held soon While the State government has expressed only conditional willingness to share project costs, the Railways continue to insist on a 50:50 cost-sharing model. It has also asked the State to bear a portion of the expenditure already incurred. In addition, the State is expected to complete land acquisition up to Erumely. The Railways have agreed to begin construction once this is achieved. The 110-km Angamaly–Erumely route was first announced in the Railway Budget for 1997–98. So far, land has been acquired for an 8-km stretch and construction has been completed on a 7-km section between Angamaly and Kalady.
United News of India
21-07-2025
- Business
- United News of India
Jharkhand Chamber Executive Meet calls for industrial boost in Santhal Region
Sahibganj, July 21 (UNI) The 11th executive committee meeting of the Jharkhand Chamber of Commerce was held today in Sahibganj under the chairmanship of Chamber president Paresh Gattani. Hosted by the Eastern Jharkhand Chamber of Commerce and Industries, the meeting saw participation from a 14-member delegation. Local traders raised key issues including the lack of an industrial area, poor train connectivity, inadequate healthcare, sanitation concerns, and imposition of Khasmahal land laws. Discontent was also expressed over illegal truck entry charges by the municipal council. Eastern Chamber president Rajesh Agarwal lauded the Chamber's intervention in halting agriculture tax collection and sought continued support to address policy bottlenecks affecting trade in the district. Describing Santhal Pargana as a region full of potential, business leaders demanded its declaration as an Industrial Thrust Area. Suggestions included setting up agro-based industries, food processing units, spiritual tourism circuits, textile and pharma hubs in Sahibganj, Godda, and Pakur. Gattani said, 'To make Jharkhand prosperous, Santhal Pargana must be empowered.' He underlined Sahibganj's mineral wealth, maize cultivation, and tourism potential. Secretary General Aditya Malhotra added that industrialisation in the region could curb migration. Regional VP Ramesh Kumar demanded a Lohardaga–Bharno–Gumla rail line and flagged toll collection issues. Objection was also raised against a proposed 5% electricity surcharge. Traders were urged to file formal protests. During the meeting, executive member Rohit Poddar contacted civic officials for drain cleaning, with assurance of action within a week. Earlier, delegates paid tribute at the Mahatma Gandhi memorial and held a city tour. A regional convention was also held with participation from all six Santhal districts. UNI XC BM
Mint
17-07-2025
- Business
- Mint
After China, India faces US heat for export-linked subsidies at WTO
New Delhi: India has come under America's scanner at the World Trade Organization (WTO) over alleged export-linked subsidies, joining a list of countries facing similar probes that had until recently focused on China. According to a WTO document reviewed by Mint, the US has named four Indian product categories—lined paper products, oil country tubular goods, high chrome cast iron grinding media and 2,4-Dichlorophenoxyacetic acid—in its latest countervailing duty probes. Incentives or subsidies aimed at promoting exports are prohibited under WTO rules. One of the Indian products targeted by the US is lined paper of the kind used in school notebooks. India is the world's second-largest exporter of this key product and any move by the US to put these under increased tariffs will impact factories in Tamil Nadu and Maharashtra, said analysts. The investigations launched by Washington cover more than 20 product categories and come even as India and the US negotiate a bilateral trade agreement, with the fifth round of talks for the first tranche of the deal currently underway. Read more: Trade turns turbulent; here's how India is tracking the winds India's chief negotiator, Rajesh Agarwal, is in Washington to seal a pre-harvest deal before a 31-July deadline. Impact on paper exports For India, the spotlight falls on sectors critical to both domestic manufacturing and export earnings. Indian lined paper products—such as school notebooks, ruled writing pads, composition books, and diaries—are in demand in the US due to their low price and good quality. 'The US-India BTA offers a game-changing opportunity for Indian lined paper exporters. Currently, India holds an 8.5% market share ($80.3 million) compared to Vietnam's 27% ($254 million) in the $944-million US stationery market, primarily due to a 36% tariff burden," said Manoj Kumar Reddy, senior policy consultant, Centre for Digital Economic Policy Research (C-DEP), an independent policy think tank. Removing the additional 26% duty would level the playing field, allowing India's established manufacturing hubs in Tamil Nadu and Maharashtra to compete on a more equal footing in terms of quality and scale. With India already ranking second globally in paper notebook exports, tariff relief could significantly boost market penetration." Key players in the segment include companies such as ITC and Navneet. Queries regarding the impact of the US action sent to ITC's head of communications remained unanswered. In its submission of FY25 earnings to the Securities and Exchange Board of India (Sebi) on 22 May, Sunil Gala, MD of Navneet Education Ltd, said, 'Overseas exports of stationery witnessed 12% growth instead of the 15% that was expected. Since our major exports are to the US, the final impact—positive or negative—of the US tariffs is unknown until the US finalizes tariffs for each country." 'Thankfully, the company has not faced any order cancellations so far. But when it comes to new seasons or deciding the volumes for each product category, all our customers are saying 'wait and watch'. They are unwilling to comment, as they are awaiting the final tariff decision," Gala said in his Sebi filing. 'However, we are very positive about gaining market share through our current and upcoming product offerings in the US When we speak with our customers, many express a preference for India, but they are still non-committal on a long-term basis, pending the US tariff decision," he added. The export figures for notebooks and other goods under this category could not be ascertained till press time. Another category under investigation is oil country tubular goods (OCTG), which includes casing pipes, tubing, drill pipes, and seamless steel pipes used in petroleum extraction and drilling operations. The US, with its active shale exploration and offshore drilling, has been a key buyer. Read more: Mint Quick Edit | Indian trade is holding up but is that enough? According to a report by the think-tank Global Trade Research Initiative (GTRI), India exported $4.56 billion worth of iron, steel, and aluminium products to the US in FY25, most of which comprised iron and steel articles and castings. High-grade OCTG, which includes casing and tubing essential to the energy sector, forms a significant part of these exports. High chrome cast iron grinding media—typically used in cement plants, thermal power stations and mining—are another export item under scrutiny. These wear-resistant steel balls and grinding elements are important for crushing and milling in heavy industries. While export values in this niche segment are comparatively low, the category has seen steady growth amid rising global demand. According to the WTO filing, the US is also investigating whether India's export promotion schemes provide an unfair advantages to domestic producers of 2,4-D, a herbicide that is primarily used to control broadleaf weeds in wheat and rice. Trade experts say, if proven to involve trade-distorting subsidies, the cases could lead to the imposition of countervailing duties by the US Department of Commerce, making Indian products costlier and potentially less attractive to American importers. Domestic industry concerns Indian exporters fear this could erode their competitiveness in key markets and push companies to alter strategies or explore alternative destinations. 'WTO matters will be handled as per the rules. We are closely monitoring the situation," said a senior official, asking not to be named. Queries sent to the commerce ministry seeking a response remained unanswered at press time. 'India exports a lot of notebooks and other such goods under the lined paper products category to the US. The issue is that the US has inked an agreement with Indonesia and has levied a 19% tariff on their products. There is also a higher duty on Chinese goods, and these two geographies are India's key competitors," said Abhash Kumar, a trade economist. 'As of now, India faces a 10% baseline tariff, and since we are waiting for the trade deal to be signed, if we end up facing a higher tariff than Indonesia, we will be at a disadvantage. The other concern is trade diversion due to the higher tariffs on China, which India needs to keep an eye on," he said. Read more: Export thrust: India should move goods like a horse to trade like a tiger According to commerce ministry data, Indian goods exports to the US in the last financial year (FY25) increased by 11.6%, from $77.52 billion in FY24 to $86.51 billion in FY25. Imports from the US also rose, but by a smaller margin of 7.42%, increasing from $42.20 billion to $45.33 billion during the fiscal year that ended on 31 March. In Q1 of FY26, India's exports to the US stood at $25.52 billion compared to $20.89 billion in the corresponding period of the last fiscal (FY25 Q1), while imports grew from $11.52 billion in FY25 Q1 to $12.86 billion in FY26 Q1.
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First Post
16-07-2025
- Business
- First Post
FirstUp: India's chief negotiator joins India-US trade talks in Washington, and other news today
India's Chief Negotiator and Special Secretary in the Department of Commerce, Rajesh Agarwal, will be in Washington today to participate in the ongoing India-US trade talks. A court hearing on the release of the case of Kilmar Abrego Garcia, who was mistakenly deported to El Salvador, will take place in Tennessee's Nashville read more It is set to be a busy Wednesday with several events lined up for the day. Firstly, India's Chief Negotiator and Special Secretary in the Department of Commerce, Rajesh Agarwal will be in Washington to participate in the India-US trade talks. Meanwhile, a court hearing on the release of Kilmar Abrego Garcia will take place in Nashville, Tennessee. Suriname, a South American country, will be witnessing history being created today with the inauguration of its first female president. Foreign ministers of Poland, Lithuania and Ukraine will meet today in Poland's Lubin, marking the fifth anniversary of the 'Lubin Triangle'. STORY CONTINUES BELOW THIS AD Today marks the 60th anniversary of the inauguration of the Mont-Blanc tunnel. In India, West Bengal Chief Minister Mamata Banerjee will lead a protest in Kolkata against the targeting of migrants. Here are some events set to take place across the world today. India-US trade talks to take place in Washington Rajesh Agrawal, India's chief negotiator and Special Secretary in the Department of Commerce, is set to join the Indian commerce ministry team in Washington, DC today. This visit is part of a crucial round of negotiations for the proposed bilateral trade agreement (BTA) between India and the United States. Rajesh Agrawal, India's chief negotiator and Special Secretary in the Department of Commerce. File image/PTI The Indian team has already commenced talks in Washington on Monday (July 14) and the discussions are scheduled to continue for four days, concluding on Thursday (July 17). Agrawal's arrival signifies the heightened importance and intensity of these ongoing negotiations. The visit assumes significance as both sides have to iron out issues in sectors like agriculture and automobiles. It is also important as the US has further postponed the imposition of additional tariffs on several countries, including India, until August 1. Hearing on the release of Kilmar Abrego Garcia An important hearing on the case relating to the release of Kilmar Abrego Garcia will take place in Tennessee's Nashville today. This hearing will address a request by federal prosecutors to revoke a previous order that granted him pretrial release, allowing him to remain in custody while he awaits trial on human smuggling charges. Abrego Garcia's case has garnered significant national attention. He was in March 2025 by the Trump administration, despite a 2019 US immigration judge's order shielding him from deportation due to fears of gang violence. After intense pressure, including a Supreme Court order, he was returned to the US last month to face the smuggling charges stemming from a 2022 traffic stop. STORY CONTINUES BELOW THIS AD Inauguration of Suriname's first woman president Jennifer Geerlings-Simons is set to make history with her inauguration as Suriname's first woman president today in the capital city of Paramaribo. Geerlings-Simons' National Democratic Party (NDP) won 18 of the 51 seats in the National Assembly. A physician and veteran politician, Geerlings-Simons led the National Democratic Party (NDP) to a narrow victory in the May 2025 general election. Following the inconclusive results, she successfully hammered out a coalition agreement with five other parties, securing the necessary two-thirds supermajority (34 out of 51 seats) in parliament to ensure her election unopposed. Her vice president will be Gregory Rusland, leader of the National Party of Suriname (NPS). Foreign ministers meet of Poland, Lithuania and Ukraine The foreign ministers of Poland, Lithuania and Ukraine are set to meet in Lublin, Poland, today, marking the fifth anniversary of the 'Lublin Triangle,' a trilateral regional cooperation platform established in July 2020. The Polish Ministry of Foreign Affairs confirmed the meeting, stating that the foreign ministers Radoslaw Sikorski of Poland, Kestutis Budrys of Lithuania and Ukrainian Deputy Foreign Minister Andriy Sybiha will participate in the meeting. Sybiha will be standing in for Ukrainian Foreign Minister Dmytro Kuleba, who has been attending other engagements. The agenda for the meeting will focus on strengthening political, economic, cultural, and social ties between the three nations, with a particular emphasis on coordinating efforts to counter Russian aggression and support Ukraine's Euro-Atlantic integration aspirations. STORY CONTINUES BELOW THIS AD Inauguration of the Mont-Blanc tunnel's 60th anniversary The iconic Mont-Blanc Tunnel will mark its 60th anniversary, commemorating six decades since its official inauguration in 1965. The tunnel stretches 7.2 miles (11.6 kilometres) through the Alps and at the time of its inauguration was a marvellous genius that connected Chamonix in France with Courmayeur in Italy. The tunnel drastically shortened travel times between the two nations. An aerial view shows the French-side entrance to the Mont Blanc road tunnel which links France and Italy beneath the Alps. File image/Reuters Construction on the tunnel began in 1957, taking eight arduous years to complete under incredibly challenging conditions. Workers faced extreme cold, high altitudes, and the dangers of drilling through solid granite, often encountering unpredictable geological formations and water intrusions. The project symbolized European cooperation and ambition, as it was a joint venture between France and Italy. Mamata Banerjee to lead protest in Kolkata against targeting of migrants Responding to what the Trinamool Congress calls 'continued targeting' of migrants from West Bengal in BJP-governed states, Chief Minister Mamata Banerjee will lead a protest rally in Kolkata today. The rally is scheduled to begin at 1 pm from College Square and culminate at Dorina Crossing in central Kolkata. It is a strong assertion of ' Bengali pride" by the ruling Trinamool Congress (TMC). The protest comes amidst a series of incidents where Bengali-speaking individuals have reportedly faced discrimination, detention and even deportation attempts, with allegations of being labelled as 'Bangladeshis.' With inputs from agencies
