Topic
duties
Trade India's gold imports surge 81.7% in April as duty hike fails to curb demand
India's gold imports jumped 81.7% year-on-year to $5.63 billion in April 2026, just before the government raised import duties on 13 May. Even after the duty hike, imports rose 34% in May to $3.42 billion, according to a GTRI report. The total effective tax burden now stands at about 18.4%.
Trade India's Silver Imports Plunge to Over Three-Year Low in May as Curbs and Higher Duties Hit Inflows
India's silver imports tumbled to their lowest level in over three years in May, dropping 87% year-on-year to $75.57 million, as the government tightened import restrictions and raised duties to 15%. In volume terms, imports plunged 94% to 33 metric tonnes, the weakest since February 2023. The measures aim to curb precious metal imports and ease pressure on the rupee and trade deficit.
Trade Democrats Push for Reinstatement of China Port Tax
Democrats in Congress are advocating for the reinstatement of a port tax on Chinese ships, which was suspended in May. The tax, amounting to $3.2 billion annually, aims to protect the U.S. shipbuilding industry.
Regulations & Compliance Commerce Ministry Escalates Anti-Dumping Duty Rejection Issue
The Commerce Ministry has raised concerns at the highest level regarding the Finance Ministry's increasing rejection of anti-dumping duty recommendations by the Directorate General of Trade Remedies (DGTR). The rejection rate has surged to 81% from November 2025 to April 2026, impacting domestic industries.
Trade India, US Discuss Non-Tariff Measures to Boost Trade
India and the US are negotiating non-tariff measures to strengthen bilateral trade. Discussions include customs and trade facilitation, with a focus on economic security alignment.
Trade US Proposes New Tariffs on India Amid Trade Talks
The US Trade Representative has proposed new tariffs on India under Section 301, citing unfair trade practices. This move comes during ongoing trade negotiations between the US and India.
Trade India Monitors US Tariff Moves Amid China Concerns
India is closely monitoring the US's proposed 12.5% tariffs on 54 countries, with a particular focus on potential impacts on China. Indian exporters are concerned about maintaining their competitive edge as global buyers diversify away from China.
Trade India's Gold Smuggling Surges Amid 15% Import Duty Hike
India's recent increase in gold import duty to 15% has led to a surge in smuggling, with gold entering from the Middle East, Bangladesh, and Nepal. The price gap between legally and illegally imported gold is significant, prompting concerns from industry experts.
Trade India-UK FTA Stalled by Steel Tariffs, Scotch Duties May Adjust
The India-UK Comprehensive Economic and Trade Agreement (CETA) faces implementation delays due to the UK's new steel tariffs and carbon tax. India may adjust Scotch whisky duties to rebalance the agreement.
Trade India Reconsiders Scotch Tariff in UK Trade Deal
India is reviewing tariff concessions on Scotch whisky in its trade deal with the UK due to unresolved issues over steel quotas and duties. The trade agreement, initially set for May, has been postponed indefinitely as negotiations continue.
Trade Indian Cotton Prices Drop as Import Duty Suspended
India suspends import duty on cotton from June 1 to October 31, easing domestic prices and benefiting the textile industry. The Cotton Corporation of India adjusts prices amid increased import options.
Trade India Reduces Excise Duty on Fuel Exports Effective June 1
India has reduced the special additional excise duty on fuel exports, effective June 1. The duty on petrol, diesel, and aviation turbine fuel has been lowered to enhance trade competitiveness.
Trade SC Cuts Duty on Exxsol Hexane to 2.5% After Ruling
The Supreme Court of India has ruled that Exxsol Hexane is a pure hydrocarbon, leading to a reduction in import duty to 2.5%. This decision impacts the classification and taxation of the product under customs regulations.