The two countries have already slapped tariffs on $50 billion worth of each other's goods earlier this year.

The Centre has prepared a list of non-essential items whose imports can be curbed and also drawn up a separate list of goods whose exports can be boosted with a little policy intervention.

Cautioning businesses in China to be ready for a long drawn trade war with US, Alibaba Group founder Jack Ma said the dispute could drag for 20 years, extending far beyond the presidency of Donald Trump.

It (India) is considering to make it mandatory for mills to export 5 million tonnes of sugar by incentivising overseas sales in the 2018/19 season, sources said.

The Enforcement Directorate (ED) has zeroed in on foreign assets worth about Rs 4,000 crore of absconding diamond jeweller Nirav Modi for quick attachment under Prevention of Money Laundering Act (PMLA).

Continuing its intermittent fall against the US dollar, the Indian rupee dived to another all-time low of 72.98 on Tuesday. The currency has lost over 13 per cent in value against the greenback since the beginning of the year.

The first wave of import curbs will include items like luxury cars, high-end mobiles, steel, aluminum, electronic items and furniture. Other items added to the list are dry fruits and imported fruits like almonds, and alcoholic beverages.

Despite steps such as withdrawing withholding tax on Masala bonds, allow some breathing space to foreign portfolio investors, and check non-essential imports and promote exports in order to arrest the decline in rupee, the local currency fell over 50 paise below the 72 level per dollar mark in trade today.

The government has made a slew of announcements -- including removal of limits on foreign portfolio investor (FPI) exposure to corporate bonds and curbs on import of non-essentials goods -- to check depreciation of rupee and ballooning current account deficit (CAD).

Lessons from the failure of some of India's biggest business names.

On Saturday, the government announced steps to check non-essential imports and promote exports in order to arrest the decline in rupee, check the widening current account deficit and relaxing norms for raising overseas borrowing.

Finance Minister Arun Jaitley said that external factors like policies adopted by the United States, trade tensions and skyrocketing crude oil prices are impacting economies like India, despite \"strong fundamentals\".

The founder of the company, Baba Ramdev, is targeting sales to the tune of Rs 1,000 crore by 2020, and daily sales would be around 10 lakh litres.

In August, the growth rate in overseas shipments touched a three-month high of 19.21 per cent. Earlier in May, exports had recorded a growth of 20.18 per cent.

Mazagon Dock Shipbuilders, India's only shipyard to build both destroyer warships and conventional submarines for the Navy, is fully geared to meet the competition from the private sector, claim officials.

Over the last five years, India has exported between $5.3 billion and $8 billion of rice, which is more than any other country in the world

The decision comes right ahead of the festive season in India when buyers show interest in consumer durables.

\"Export trade during August 2018 recorded at $27.84 billion, a positive growth of 19.21 per cent. Exports excluding petroleum also reported a positive growth of 17.43 per cent,\" said Commerce and Industry Minister Suresh Prabhu.

Today, the market extended losses with the Sensex closing 509 points or 1.34% lower at 37,413. Nifty too fell 150 points or 1.32% to 11,287 level. The Sensex has lost nearly 1,000 points in the last two sessions in a rout triggered by the worsening trade data. The Nifty too has lost 300 points in the same period.

The RCN has been issued on the request of the ED to the Interpol, as the ED seeks to interrogate her on the alleged charges of 'money laundering'.