Growth will be back on track by March: Piyush Goyal
Thursday, 12 December 2024 Commerce Minister Piyush Goyal expressed confidence in India's economic recovery by the fiscal year-end, citing positive trends in festive spending, rural growth, and infrastructure investment. He projected exports to reach $1 trillion within the next two years and emphasized the government's commitment to structural reforms like the Waqf Amendment Bill and 'one nation, one election' initiative.
President Donald Trump has reignited global trade tension by declaring that the U.S. can “do whatever we want” as the July 8 deadline on reciprocal tariffs approaches. The 90-day pause on steep U.S. import duties—affecting several nations—is set to expire soon, with Trump refusing to confirm adherence to any deadline. While the EU faces a 50% tariff threat by July 9, Trump hinted flexibility, echoing his stance that America will act in its best interest. Amidst this uncertainty, Trump teased a “very big” trade deal with India, stating the U.S. has finalized partial deals with China and the UK and is working on opening India’s trade structure. Commerce Secretary Howard Lutnick and Indian Minister Piyush Goyal have confirmed negotiations are progressing. Trump suggested letters may soon be sent to over 200 nations outlining revised U.S. trade terms. The trade battlefield is heating up again—with Trump in full control.
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Thursday, 12 December 2024
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