India is finalizing fair and balanced free trade agreements (FTAs) only after extensive consultations, Commerce Minister Piyush Goyal said. Highlighting the $100 billion FDI commitment from EFTA and notable pacts with Australia and UAE, Goyal addressed India’s robust export figures and manufacturing growth, attributing successes to the government’s transformative governance principles.
India doing FTAs only after extensive stakeholder consultations: Piyush Goyal
The UK government has relaunched Free Trade Agreement (FTA) talks with India, aiming to enhance their bilateral relationship, focusing on trade and green technologies. Foreign Secretary David Lammy highlighted meetings with Indian business leaders and an invitation for his Indian counterpart. The FTA, which saw negotiations paused for elections, is set to resume, potentially boosting […]
India plans to enhance its textile and garment industry with financial support, reduced tariffs on crucial inputs, and local production incentives in its upcoming budget. The political turmoil in Bangladesh has led global retailers to consider India as an alternative, leading to increased export orders for Indian garment producers. The government may raise textile ministry […]
The weakening rupee is unlikely to significantly impact India’s trade balance, inflation, or growth prospects despite hurting importers. Limited commodity price rises and weak global growth, especially in China, help mitigate imported inflation. Excessive rupee interventions may hinder growth and further strain forex reserves and liquidity.
Depreciation of the rupee against the US dollar is providing limited benefits to Indian exporters due to high import content in shipments and global market uncertainties. Exporters face increased costs for raw materials and other dollar-denominated expenses. This rise offsets the benefits of a weaker rupee. The falling rupee also impacts imports, foreign education, and […]
India will face over USD 14.6 bn in additional duties, if US imposes 20 per cent tariff: BCG Report
1 year ago
India’s trade is set to grow by 6.4% annually, reaching USD 1.8 trillion by 2033, driven by its potential as a global manufacturing hub. ASEAN’s trade is also expected to rise by 3.7% annually. The report highlights the impact of US tariffs on global trade dynamics and the increased focus on the Global South.
Commerce Minister Piyush Goyal has assured garlic traders that their concerns over illegal Chinese garlic imports will be investigated. Traders highlighted the impact of these imports on the market and alleged that garlic was being routed via Afghanistan, Iran, and Iraq. Garlic imports to India stood at USD 7 million during April-October, mainly from Afghanistan […]
India plans to invest around Rs 50,000 crores to enhance its inland waterways over five years, with Rs 23,000 crores allocated for new national waterways and green shipping initiatives. The government is also developing shipbuilding and repair facilities across 111 national waterways, reducing logistics costs and boosting ancillary industries while focusing on the socio-economic well-being […]
Rosatom announced a record cargo shipment of 37.9 million tons via the Northern Sea Route in 2024. The year also marked the launch of new icebreakers and saw a record number of transit voyages and navigation permits. The development of the Great Northern Sea Route is poised to enhance connectivity across Russia, Europe, and the […]
The Odisha government announces support for a ₹4,000-crore ship recycling hub near Paradip port, two new ports at Inchuri and Bahuda with private sector participation, and investments in railway tracks for mineral evacuation. Hydrogen manufacturing is expected by 2026. The state also plans to develop data centres and an electronic city.