{"id":768,"date":"2025-05-06T08:26:51","date_gmt":"2025-05-06T08:26:51","guid":{"rendered":"https:\/\/newsraise.com\/in\/?p=768"},"modified":"2025-05-06T08:28:58","modified_gmt":"2025-05-06T08:28:58","slug":"indias-zero-for-zero-trade-tariff-offer-a-bold-move","status":"publish","type":"post","link":"https:\/\/newsraise.com\/in\/2025\/05\/06\/indias-zero-for-zero-trade-tariff-offer-a-bold-move\/","title":{"rendered":"India\u2019s Zero-for-Zero Trade Tariff Offer, a Bold Move?"},"content":{"rendered":"\n<!-- Quick Adsense WordPress Plugin: http:\/\/quickadsense.com\/ -->\n<div class=\"9fece8afa224fd09e54b043d0febfb58\" data-index=\"1\" style=\"float: none; margin:10px 0 10px 0; text-align:center;\">\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- NR ATF -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-8898941184964366\"\r\n     data-ad-slot=\"4839033563\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\n<\/div>\n<p>The news around \u2018Trade Tariff\u2019 as a topic has been a subject of conversation for quite some time now. With new developments and ideas being proposed by the US Government, several nations as a party to these developments are being affected. Well, <a href=\"https:\/\/newsraise.com\/in\/2025\/05\/05\/india-emerges-as-the-global-hotspot-for-investors\/\">India<\/a> is certainly at the helm of it at all, considering the special friendship these two nations and their respective heads of state share. Just hours after President Trump had announced a 100% trade tariff to be levied on films that will be produced outside the United States, India has decided to bounce back with an interesting proposal to counter the trade tariff tussle. In a series of latest decisions, the Union Ministry of Finance &amp; the Ministry of Commerce and Industry have presented an idea to eliminate tariffs on steel, auto components, and pharmaceuticals for a specific import quantity, with an aspiration to negotiate trade dialogues with the US. Beyond exceeding the specified threshold, standard duties would apply.<\/p>\n<p>This offer aims to expedite a bilateral <a href=\"https:\/\/newsraise.com\/in\/2025\/05\/05\/india-emerges-as-the-global-hotspot-for-investors\/\">trade deal<\/a> expected to be close in the upcoming autumn season, prioritizing certain sectors before the end of the US tariff pause. India has submitted a proposal to levy zero tariffs on <a href=\"https:\/\/newsraise.com\/in\/2024\/09\/26\/commodities-markets-trading-of-raw-materials-like-gold-oil-and-more\/\">commodities pertaining to the steel, automobile and pharmaceutical sector<\/a> on a reciprocal basis, up to a certain quantity of imports. Upon crossing the mark, these industrial goods would attract regular level of duties. This interesting offer was made by <a href=\"https:\/\/newsraise.com\/in\/2025\/05\/05\/india-emerges-as-the-global-hotspot-for-investors\/\">Indian trade officials<\/a> visiting Washington DC late last month; to speed up the talks concerning an impending trade deal that\u2019s in the pipeline between the two nations.<br \/>\nThe two nations are prioritizing some sectors in particular which have a high impact value, before the termination of the 90-day pause on US President Donald Trump\u2019s tit-for-tat tariff strategy. Amid a contraction in the US economy, Trump and his cabinet have suggested that some unclear trade deals could be sealed as soon as the new forthcoming week, offering a prospect of relief for trading partners seeking to avoid higher US import duties. Asian economies, including South Korea, Japan and India are amongst the nations which are leading the race for reaching interim deals with his administration. This offer was made by the New Delhi cabinet after consulting reputed export organizations, which said that mutually eliminating duties on industrial goods would not impact local industries or their competitiveness. Indian products are known to be highly price-competitive, with figures conveying that the country has exported pharmaceutical products worth US $10.5 billion and engineering goods worth over US $19 billion to the United States in 2024-25, as per the data made available by the Union Trade ministry.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-770 size-full\" src=\"https:\/\/newsraise.com\/in\/wp-content\/uploads\/2025\/05\/NEW-1.jpg\" alt=\"Trade Tariff, India, US, Donald Trump, Narendra Modi, Customs duty\" width=\"1200\" height=\"675\" srcset=\"https:\/\/newsraise.com\/in\/wp-content\/uploads\/2025\/05\/NEW-1.jpg 1200w, https:\/\/newsraise.com\/in\/wp-content\/uploads\/2025\/05\/NEW-1-300x169.jpg 300w, https:\/\/newsraise.com\/in\/wp-content\/uploads\/2025\/05\/NEW-1-1024x576.jpg 1024w, https:\/\/newsraise.com\/in\/wp-content\/uploads\/2025\/05\/NEW-1-768x432.jpg 768w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p>In return, the Washington DC secretariat has also asked India to resolve its concerns around \u2018Quality Control Orders\u2019, which it considers a non-tariff related trade barrier for its exports. The mandatory quality standards, which lay down the benchmark to be met by both local and foreign manufacturers before selling their manufactured goods in India, have been criticized for being non-transparent and unfair.<br \/>\nAs a matter of relief, the Indian officials are willing to reconsider the existing QCOs in sectors pertaining to medical devices and chemicals; with a lucrative offering to sign a mutual recognition agreement with the US government, under which both nations will accept each other\u2019s regulatory standards and practices. Though it\u2019s still unclear if the revised proposals will form a part of the final deal or not, but what\u2019s important here to be noted is that from just 14 QCOs (Quality Control Orders) before 2014, the number has shot up to more than 140 since 2017, which is significantly high and just goes on to show the immense value being accorded by the concerned authorities to upkeep the standards under all circumstances. In order to confirm this development, an email was sent to I<a href=\"https:\/\/newsraise.com\/in\/2025\/05\/05\/india-emerges-as-the-global-hotspot-for-investors\/\">ndia\u2019s Ministry of Commerce and Industry,<\/a> though the response is awaited by the media officials.<\/p>\n<p>Whether this new offer is accepted by the US counterparts or not is something for us to wait and see, but what can be guaranteed is that with both the nations on the verge of a further boom in their economy, amidst rising inflation and tariff deals, a landmark decision for a mutual agreement on 0% tariff in the identified industries could pave the way for higher economic development and strengthened ties in such areas.<\/p>\n\n<div style=\"font-size: 0px; height: 0px; line-height: 0px; margin: 0; padding: 0; clear: both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>The news around \u2018Trade Tariff\u2019 as a topic has been a subject of conversation for quite some time now. With new developments and ideas being&#8230;<\/p>\n","protected":false},"author":4,"featured_media":769,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[255,220,216,219,253,254],"class_list":["post-768","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-customs-duty","tag-donald-trump","tag-india","tag-narendra-modi","tag-trade-tariff","tag-us","entry"],"_links":{"self":[{"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/posts\/768","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/comments?post=768"}],"version-history":[{"count":3,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/posts\/768\/revisions"}],"predecessor-version":[{"id":773,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/posts\/768\/revisions\/773"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/media\/769"}],"wp:attachment":[{"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/media?parent=768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/categories?post=768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/tags?post=768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}