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India-US trade deal announced: US President Donald Trump on Monday announced that India and the US have finalised a trade deal. Ahead of the announcement, Trump spoke to PM Modi.
The leader of the Opposition in the Lok Sabha, Rahul Gandhi , on Friday flagged what he called a “deepening crisis” in India’s textile sector due to the high U.S. tariffs and urged Prime Minister Narendra Modi to intervene, saying the issue was threatening jobs and small businesses.
For decades, India’s export incentive framework has been designed around ports, airports and courier terminals, inadvertently overlooking millions of small exporters who rely on the vast postal network network to access global markets.
The Indian government today notified a major change in customs rules to help smaller businesses and exporters find it easier to claim duty benefits.
Turning his threat into action and reality, US President Donald Trump on Saturday announced sweeping tariffs on several European countries, including Denmark, escalating tensions over Greenland and framing the move as a matter of global security.
Mr. Rajat Chhabra & Ms. Vishakha Kamboj penned an article in TIOL suggesting that the Government is considering the introduction of an amnesty scheme in the forthcoming Union Budget 2026-27 is the need of hour.
The spotlight is currently on the decline in income tax collections and falling direct tax revenue. But indirect tax collections of the Centre are also under duress in FY26.
The Customs department at the Kempegowda International Airport on Friday issued a high alert for the public after detecting a fraud racket in which impostors posing as Customs officials are cheating people and extorting money from them.
India is preparing a fresh round of customs duty reforms in the FY27 Union Budget to speed up cargo movement at ports and further rationalise the tariff structure, people familiar with the matter told Mint. The measures are expected to make cross-border trade simpler, faster and more cost-effective.
The US-India Bilateral Trade Agreement will be announced before the end of this month after the US withdraws the penalty tariff. India will allow duty-free import of soyabean, corn and certain dairy products.