India–US Trade Tensions Rise Over Steel and Auto Tariffs NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
India should not cut import duties for the automobile sector under free trade agreements (FTAs) with countries like the UK as it will adversely impact the sector and may result in the closure of companies here, economic think tank GTRI said in a report on Wednesday.
The Global Trade Research Initiative (GTRI) said India has not given tariff or duty reductions for cars in its free trade agreements with ASEAN (Association of Southeast Asian Nations), Japan, and Korea.
"Do not cut auto (including electric vehicles) tariffs through FTAs. This will adversely impact auto majors who have invested billions of dollars in India and force them to wind up," it said.
Also Read : Volkswagen India expects 20% growth in sales this year Indian auto component industry eyes $14 billion by 2028, ACMA reports
China's iron ore production declined by 12.6% year-on-year (Y/Y) in January-February 2025, as per da...
China 21-Mar-2025
According to JSW Steel filing, company's consolidated crude steel production in April remained almos...
Large Corporate 13-May-2024
British Steel’s auditor has resigned after struggling to verify £45m in stock, dealing a...
China 22-Jan-2024
India’s finished steel imports hit a 9-year high at 7.5 million tonnes in FY 2024-25. Global...
Business 23-Apr-2025
Asia-Pacific markets dipped following Trump's new tariff announcement....
Business 02-Jun-2025
According to Bhupinder Singh Bhalla, the secretary of the Ministry of New & Renewable Energy (MN...
Announcement 17-May-2024