Mini deal, macro focus: PM Modi to talk trade in US

Prime Minister Modi’s upcoming visit to Washington DC will prioritize talks on a limited trade deal with the US, focusing on tariff concessions and investment agreements. This initiative, resembling the US-Japan trade agreement, aims to enhance market access for both nations and boost confidence, resuming promising negotiations from Trump’s first term.

The government plans to amend the 72-year-old Coir Industry Act to boost exports, introducing value-added products like jute and rubber blended coir. Reducing the coir board size by 50% aims for faster decision-making. The move also envisions export facilitation centres for producers.

India’s import of pulses in 2024 doubled from the previous year, reaching an all-time high of 6.63 million tonnes. The surge, particularly in yellow peas, aimed to curb retail inflation. The industry has urged for duties in 2025 to prevent market flooding and manage prices effectively.

The Reserve Bank of India’s $5 billion dollar/rupee buy-sell swap auction is anticipated to attract strong interest from banks and corporate treasuries. This six-month swap is part of RBI’s strategy to inject liquidity worth approximately 1.5 trillion rupees into the banking system, with varied opinions on the expected premium cut-off.

India has lifted import restrictions on specific patrol boats and vehicles, effective immediately. In a notification issued on Wednesday, the Directorate General of Foreign Trade (DGFT) announced that the import policy for patrol and surveillance boats, air-cushion vehicles, and remotely operated vehicles has been changed from “restricted” to “free.”

The UK and India will resume free trade and bilateral investment treaty talks. British Prime Minister Keir Starmer and Indian Prime Minister Narendra Modi decided to restart FTA negotiations during the G-20 Summit. Britain’s Business and Trade Secretary Jonathan Reynolds will visit India next month to advance discussions, focusing on issues like electric vehicles, alcoholic […]

Tea Association of India revealed the misuse of import laws, with imported low-quality tea being re-exported as Indian tea. This practice harms the reputation and financial stability of Indian tea, it said. The TAI has called for stricter enforcement, penalties, and reconsideration of duty-free imports to protect the industry and ensure fair trade practices.

India aims to expand investments in Argentina’s mining, gas, and oil sectors, particularly focusing on lithium, for its energy transition. Indian firms are exploring lithium in Catamarca and showing interest in other provinces, while looking at potential benefits from Argentina’s Large Investment Incentive Regime.

India’s coffee exports are anticipated to drop by over 10% in 2025 due to decreased production and lower carry-forward stocks, even as prices reach record highs. Unfavorable weather conditions have impacted yields, leading to delayed harvesting and reduced output. This decline is expected to further tighten global coffee supplies.

India’s commerce and industry ministry is reviewing President Trump’s America First Trade Policy to assess its impact on national trade. The policy involves the US negotiating bilateral and sector-specific agreements, imposing tariffs on partners to correct trade deficits. Prime Minister Modi is expected to visit the US, highlighting India’s significance as a trading partner amid […]