Trade deal may double India goods exports to US, report says
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
A comprehensive trade deal between New Delhi and Washington could significantly boost the South Asian nation's exports and manufacturing sector, paving the way for sustained growth, according to Bloomberg Economics A broad agreement could nearly double India's exports of goods to the US — its largest market overseas accounting for 19.3% of total exports — within a decade, and increase gross domestic product by 0.6%, economists Abhishek Gupta and Eleonora Mavroeidi wrote in a report Friday. Including services, overall exports to the US should rise 64%, the report said.Most of the export gains would come from textiles and light manufacturing goods, such as furniture, toys and other consumer goods, the economists said, adding the trade deal would 'mark an inflection point' for the domestic manufacturing sector.Indian and US officials are racing to clinch a deal before a July 9 deadline for the higher tariffs.With the Trump administration imposing hefty tariffs on China and Vietnam, a trade deal that levies 10% tariffs on India would make the South Asian nation a draw for businesses seeking to relocate or diversify supply chain, the economists said.If no trade deal is reached and India is subjected to higher reciprocal tariffs of 26%, the nation could lose more than a third of its direct exports to the US and its GDP could take a 0.7% hit, the economists said.India was among the first nations to initiate trade talks with the US this year, with Prime Minister Narendra Modi making sweeping concessions to appease the White House. However, in recent weeks, both sides have hardened their stance on sectors such as agriculture.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
an hour ago
- Hindustan Times
Pakistan, Russia sign deal ‘reaffirming long-standing industrial ties'
The Pakistani embassy in Russia said on Friday that the two countries have signed a 'protocol to restore and Pakistan Steel Mills (PSM) in Karachi", in what it called was a 'reaffirmation' of their "long-standing industrial partnership". The agreement was signed at the Pakistan embassy in Moscow(Facebook/Pakistan Embassy Russia) The agreement was signed at the Pakistan embassy in Moscow by Pakistan's secretary of industries and production Saif Anjum and Vadim Velichko, general director of industrial engineering LLC from the Russian side. SAPM Haroon Akhtar Khan and Pakistan's ambassador to the Russian federation Muhammad Khalid Jamali were also present. The project seeks to restart and expand steel production. 'Reviving PSM with Russia's support reflects our shared history and commitment to a stronger industrial future,' said Khan. Originally built with Soviet assistance in 1973, PSM remains a lasting symbol of Pakistan-Russia ties, according to the Pakistani embassy in Russia. Pakistan, Russia to expand road, rail connectivity Pakistan and Russia have earlier this month also agreed to collaborate on establishing a robust rail and road network to link the South Asian country with Central Asia and Russia, providing landlocked states direct access to warm waters, a media report said on Friday. Federal minister for communications Abdul Aleem Khan and Russian deputy minister of transport Andrey Sergeyevich Nikitin, on the sidelines of the Shanghai Cooperation Organisation (SCO) ministerial conference in Tianjin, China, agreed to accelerate infrastructure development across the region to facilitate trade and economic integration. The initiative aims to transform Pakistan into a strategic transit hub by enhancing trade corridors and logistical routes extending to Russia and Central Asia, Geo News reported. On Pakistan's modernisation efforts, Khan said the country was digitising its transport infrastructure, introducing barrier-free motorways, mandatory e-tagging, and comprehensive CCTV surveillance, according to PTI news agency. He said the reforms were part of Pakistan's broader goal to optimise regional connectivity and cross-border trade. Meanwhile, Pakistan and Afghanistan last month agreed to advance the Uzbekistan-Afghanistan-Pakistan (UAP) rail project. Deputy Prime Minister and Foreign Minister Ishaq Dar and Afghanistan's Acting Foreign Minister Amir Khan Muttaqi, in a telephonic conversation, agreed to work for an early finalisation of the framework agreement. (with PTI inputs)
Hindustan Times
3 hours ago
- Hindustan Times
Want a career in India's soaring aviation and logistics sectors? Read this interview of AISATS CEO Ramanathan Rajamani
With India emerging as one of the world's largest aviation markets and its logistics sector projected to cross USD 350 billion by 2030, the demand for skilled professionals in ground handling, air cargo, and supply chain operations is skyrocketing. In this exclusive interview, Ramanathan Rajamani, CEO of AISATS (Air India SATS), shares insights on the sector's growth outlook, emerging career opportunities, essential skills for aspiring professionals, and how the AISATS Training Academy is helping shape a future-ready workforce. Whether you're a student, job seeker, or an educator, this conversation offers valuable guidance on tapping into one of the most dynamic and future-proof industries in India and beyond. The aviation and logistics sectors offer a wide spectrum of career paths catering to various skill levels and interests, making them highly attractive for students and young professionals in India. (REUTERS/File) What is the projected growth of the aviation and logistics sector in India and the wider South Asian/Middle Eastern region over the next few years? India's aviation and logistics sectors are witnessing an unprecedented growth trajectory driven by strong economic fundamentals, demographic trends, and proactive government policies. Specifically, passenger traffic in India is forecasted to grow from around 193 million in 2023 to over 250 million by 2028, reflecting a compound annual growth rate (CAGR) of approximately 4.3%. Parallelly, India's logistics sector is projected to grow at a CAGR of 7.7% and is expected to reach USD 357.3 billion by 2030. The broader South Asian and Middle Eastern regions are also expanding rapidly. The Middle East aviation market is expected to grow at around 4.4% CAGR through 2030, supported by its role as a global transit hub. South Asia is forecast as the fastest-growing aviation market globally, with a CAGR close to 9.5% between 2023 and 2027. What types of career opportunities are expected to emerge in aviation and logistics, especially for students and young professionals from India? The aviation and logistics sectors offer a wide spectrum of career paths catering to various skill levels and interests, making them highly attractive for students and young professionals in India. The industry demands skilled talent in managerial, technical, and operational domains. In aviation ground handling, senior-level roles overseeing ground operations, safety, quality assurance, compliance etc. are pivotal. Entry-level and support roles are equally critical, including Ramp Agents who facilitate aircraft movements on the ground, Baggage Handlers responsible for loading and unloading luggage, Customer Service Agents assisting passengers, and Load Control Specialists who ensure proper cargo weight and balance documentation. Additionally, the rise of logistics parks and multimodal cargo hubs has created new jobs in air cargo logistics, warehousing management, inventory control, cold chain logistics, and supply chain technology. What are the most essential skills, certifications, or qualifications that Indian students should focus on to build successful careers in this sector? To build successful careers in the aviation ground handling and logistics sectors, students must develop a balanced combination of technical knowledge, relevant certifications, and strong interpersonal skills. Mastery of ground handling operations, cargo management systems, aviation safety protocols etc. form the technical foundation required. Additionally, familiarity with evolving technologies such as AI, IoT, and automation is becoming increasingly important to stay competitive in this fast-changing industry. Certifications from globally recognised bodies like IATA and the Logistics Sector Skill Council (LSSC) greatly enhance a candidate's employability. At AISATS, our Training Academy offers industry-aligned training programs that emphasise practical skills, safety standards, and operational excellence etc. helping bridge the gap between academic theory and industry expectations. Alongside technical expertise, our training academy also helps candidates develop the necessary soft skills such as effective communication, problem-solving, teamwork, time management etc. for ensuring smooth operations and positive passenger experiences. While many entry-level roles allow for a Class 12 qualification, higher-level positions often demand bachelors or master's degrees in logistics, supply chain management, or related fields. What makes aviation and logistics an attractive and future-proof career path for Indian students today? Aviation and logistics offer robust career opportunities fuelled by sector growth, technological innovation, and global integration. These industries provide stability through continuous demand for skilled professionals across all operational levels. Career progression is substantial, with clear pathways from entry-level operational roles to managerial and specialist functions. The sectors also offer diverse cross-industry mobility skills learned in logistics and aviation that transfer well to supply chain management, e-commerce, manufacturing, and hospitality sectors. Technological advancements in automation, AI, and data analytics present exciting opportunities to work with cutting-edge solutions shaping the future of transport and trade. Moreover, aviation and logistics roles often involve multicultural, international exposure, fostering global career growth and personal development. How does AISATS' Training Academy contribute to skill development for aviation and logistics roles? Playing a crucial role in bridging the gap between theoretical education and practical skills, the AISATS Training Academy delivers hands-on learning that equips students with the ability to tackle real-world challenges in ground support operations and customer service excellence. Beyond technical competencies, the academy prioritises the development of essential soft skills such as communication, teamwork and leadership, all of which are vital in the fast-paced, service-driven environment of aviation and logistics. Our presence across 6 airports in India enables us to provide robust placement opportunities, facilitating a seamless transition from training to employment. Moreover, the curriculum is regularly updated based on continuous feedback from industry stakeholders to ensure alignment with evolving technologies and operational standards. This approach ensures that graduates are not only job-ready but also equipped to drive innovation and uphold the highest standards of operational excellence in the sector. What is the typical salary range for fresh graduates entering the aviation and logistics sectors in India or the region? While exact salary figures vary by role, location, and employer, fresh graduates can expect competitive entry-level salaries that increase with experience, specialisation, and responsibility. Salaries often include benefits such as health insurance, travel allowances, and performance incentives. The sectors reward ongoing skill development and professional certifications, making them attractive for aspirants seeking long-term, upwardly mobile careers with increasing financial returns. What kind of career growth can students expect within the first 4–5 years after entering the field, both in India and in overseas roles? New entrants typically experience rapid career advancement, moving from operational roles to supervisory and managerial positions within 4–5 years, based on their performance and commitment towards growth. Opportunities may also arise in specialised areas such as safety compliance, quality assurance, technology integration, supply chain strategy, business development etc. International assignments are also common, given the global nature of aviation and logistics. Career mobility within these sectors is significant, supported by continuous learning and professional development. How can educational institutions in India better align their programs with the evolving demands of the aviation and logistics sectors? Educational institutions in India have a pivotal role to play in preparing the workforce for the future of aviation and logistics, sectors that are integral to the nation's economic progress. By forging deeper, strategic partnerships with industry leaders, academic programs can be designed to emphasise hands-on practical skills, mastery of emerging technologies, and the essential soft skills needed to thrive in this fast-evolving landscape. Incorporating internships, live industry projects, and simulation-based training will empower students to bridge classroom learning with real-world applications, ensuring they are ready to meet the dynamic demands of these critical sectors. Regularly updating curricula based on ongoing industry feedback will equip students to navigate challenges posed by digitisation, automation, and increasingly complex global supply chains confidently. Beyond books & screens: A wake-up call for the future of education Finally, what additional insights would you like to share about the strategic importance of the aviation and logistics sectors, especially in the context of India's economic growth and global positioning? Aviation and logistics underpin India's economic growth, enabling trade, tourism, and regional development. Investments in airport modernisation, freight corridors, and logistics parks are creating resilient, efficient infrastructure that strengthens India's global connectivity. These sectors are critical in implementing the government's vision of Aatmanirbhar Bharat (self-reliant India) by facilitating exports and supporting manufacturing. Careers in these fields offer aspirants a meaningful opportunity to contribute to India's transformation as a global economic power.
Time of India
17 hours ago
- Time of India
US, India in talks on trade deal that may cut tariff below 20%
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The US is working toward an interim trade deal with India that may reduce its proposed tariffs to below 20%, people familiar with the matter said, putting the South Asian nation in a favorable position against its peers in the doesn't expect to receive a tariff demand letter — unlike many other nations this week — and anticipates the trade arrangement will be announced through a statement, the people said, asking not to be identified because the discussions are private. The interim deal would allow for continued talks, giving New Delhi space to resolve outstanding issues ahead of a broader agreement expected this fall, they statement would likely set a baseline tariff below 20% — compared with 26% initially proposed — with language that would allow the two sides to continue negotiating the rate as part of the final pact, the people said. The timing of an interim agreement is finalized, India would be on a short list of trading partners that have secured deals with the Trump administration. US President Donald Trump has otherwise shocked dozens of trading partners this week by announcing tariff rates of as high as 50% in some cases ahead of an Aug. 1 Ministry of Commerce and Industry didn't respond to an email seeking further information. The White House and Commerce Department also did not immediately respond to requests for Delhi is seeking to secure a deal on more favorable terms than the one Trump said he signed with Vietnam, which included 20% import duties. However, Vietnam was caught off guard by that rate, and is still seeking to bring it down. The UK is the only other country that Trump has announced a trade deal Thursday, Trump told NBC News he's eyeing blanket tariffs of 15% to 20% on most trading partners who haven't been informed yet of their rates. The current global baseline minimum levy for nearly all US trading partners is 10%.Tariff rates announced for Asian nations so far range from 20% for Vietnam and the Philippines to 40% for Laos and was among the first nations to approach the White House for trade talks this year, but signs of strain have emerged in recent weeks. While Trump said earlier this week that an agreement with India is close, he has also threatened additional tariffs over the country's participation in the BRICS group . A team of Indian negotiators is expected to visit Washington soon to advance the has already put forward its best offer to the Trump administration, making clear the red lines it won't cross in finalizing an agreement, Bloomberg News previously sides have dug in their heels over a few key issues including Washington's demand that India open its market to genetically modified crops — an ask New Delhi has rejected, citing risks to its two nations are yet to find a landing zone on contentious issues, including non-tariff barriers in agriculture and regulatory processes in the pharmaceutical industry, people familiar with the matter said.
