India and EU Conclude “Mother of All Deals”
IAR Desk After nearly two decades of on-and-off talks, India and the European Union have
IAR Desk After nearly two decades of on-and-off talks, India and the European Union have
The Ministry of Finance’s plan to ease the curbs followed requests from other government departments that face shortages and project delays due to the 2020 restrictions, the sources said.
India, in turn, will cut tariffs on about 78% of its tariff lines, covering nearly 95% of imports from Oman by value.
A higher deficit is likely to add further pressure on the rupee, which has been Asia’s second-worst performing currency this year, having shed 3.5% against the dollar.
Nearly 55% of India’s exports to the U.S., worth about $48 billion, faced a cost disadvantage against rivals from Vietnam, China and Bangladesh, Federation of Indian Export Organisations President S.C. Ralhan told the government, while seeking support.
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“No additional tariffs have been imposed on Indian exports to the US in sectors like pharmaceuticals and electronics as yet,” Prasada said.