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Featured News
India, Brazil have huge potential to grow trade: Luiz Inacio Lula Da Silva
Lula highlighted the rapid growth in economic ties between the two countries and the untapped potential. In 2006, bilateral trade was only about $200 million, which rose to $2.4 billion a few years later, and reached $15 billion last year. "I have with me possibly the biggest delegation of ministers, businesspeople of all the different trips that I have taken up until now, and this shows the commitment that I have with India," said Lula.
ET Explainer: What will US tariff be now?
Following an agreement on a framework for an interim trade deal earlier this month, the US announced it will cut the reciprocal tariff on India to 18% and remove the additional 25% punitive tariffs. Currently, India's goods exports to the US are subject to 25% reciprocal tariff. The February 6 joint statement on the framework for an interim deal proposed lowering this rate to 18% but the change has yet to be implemented.
