Services tax surplus and robust remittances may help India in overcoming tariff hikes by US: CRISIL

India’s exports faced challenges, but a late surge brought hope. October saw significant growth, driven by sectors like engineering and gems. However, competition from China and a widening trade deficit raised concerns. Despite this, India’s strong services trade and remittances are expected to keep the economy stable.

The UK and India will resume negotiations for a free trade agreement in 2024. This follows a pause due to elections in both countries. UK Prime Minister Keir Starmer, who met with Indian Prime Minister Narendra Modi at the G20 summit, stated that a trade deal would boost jobs and prosperity in the UK.

Amritsar Airport is now an authorized export point for gold, silver, and platinum jewellery. The Gem & Jewellery Export Promotion Council advocated for this change to promote regional growth. This will benefit businesses in Punjab by simplifying export processes. The move is expected to boost exports, especially to markets like Dubai where demand for Indian […]

Newly elected US Congressman Suhas Subramanyam has voiced his opposition to potential tariffs on Indian exports by the incoming Trump administration. Subramanyam believes such actions would trigger a trade war detrimental to both nations. He emphasizes the importance of US-India economic cooperation and plans to advocate for a reformed immigration system, including a path to […]

Senator Marco Dreosto highlights the potential of the India-Europe Economic Corridor (IMEEC) to reshape global trade. Dreosto emphasizes the historical ties between Italy and India, advocating for the Port of Trieste’s strategic role as a primary European terminal for IMEEC. He envisions joint ventures in third-country port sectors, aligning with Italy’s Mattei Plan for sustainable […]

The Indian government is considering imposing minimum import prices (MIP) on certain textile products, including viscose rayon yarn and woven fabrics, to protect domestic industries from a surge in imports, primarily from China. The move aims to curb dependence on imports and address the growing trade deficit with China.

India is poised to become the second-largest recipient of global investments after the US during President Trump’s second term. Investors are drawn to India’s potential as a market, its alignment with Trump’s policies, and its strong economic growth prospects, particularly in sectors like energy, infrastructure, and consumer goods.

Joining RCEP could hinder India’s goal of becoming a top investment destination. Experts warn that it could lead to domestic capital flight and harm small businesses. India already has trade agreements with most RCEP members. The World Bank suggests focusing on internal reforms instead. India’s exports to China have not grown significantly despite existing agreements.

India is proceeding with its free trade agreement negotiations with various countries and blocs, including the UK and the EU, according to a government official. Despite rumors of pauses, talks are progressing as planned, with a meeting between Indian and EU trade representatives scheduled soon.

A new report by GTRI supports India’s decision to opt out of RCEP, citing concerns over widening trade deficits, particularly with China. The study argues that RCEP could harm domestic industries, especially MSMEs, and offers limited export gains, outweighing potential benefits like GVC integration.