The government plans to set up BharatTradeNet, a unified platform for trade documentation and financing solutions similar to UPI. This ambitious project aims to digitize trade documentation, streamline interactions among various agencies, and enhance access to export credits. The initiative may take 2-3 years to be fully operational.
Plan is to create separate agency to implement BharatTradeNet: DGFT
Narendra Modi US Visit: India is rapidly making concessions to the US to avoid a trade war under President Trump. Prime Minister Modi’s government has cut tariffs on various imports and agreed to accept unlawful migrants. Modi will meet Trump in Washington, with India aiming to strengthen trade, defense, and technology ties while attracting manufacturers […]
India and the UK are set to resume FTA negotiations starting February 24, aiming to resolve issues related to tariffs on electric vehicles, alcoholic beverages, and services. The talks will also cover greater access for Indian skilled professionals and opportunities for British companies in India’s services sector.
The US has imposed tariffs on imports from China, Canada, and Mexico, presenting significant export opportunities for India. Increased costs for American consumers could lead US buyers to seek alternative suppliers, benefitting Indian sectors like electrical machinery, auto components, and apparel. Potential gains depend on India’s production capacity and competitiveness.
India and the UK will resume free trade agreement talks from February 24, covering areas like customs duties, services, and bilateral investments. India seeks better access for its skilled professionals and goods in the UK, while the UK aims for lower import duties on products like whiskey and more opportunities in telecommunications and financial services […]
India’s government has significantly reduced import tariffs across a range of goods, signaling an end to protectionist measures. This move aims to avoid trade retaliation from the US while making India a more competitive and open economy. The average tariff rate has dropped to 10.66%, underlining India’s commitment to integrating into global supply chains.
The government is planning to introduce alternate financing models, including export factoring services and trade credit insurance, to support MSME exporters. This initiative aims to provide collateral-free, pre-shipment loans and enhance credit access to revive India’s declining goods exports.
The finance ministry has proposed a two-year timeline, extendable by one year, for completing provisional assessments of export and import consignments to reduce uncertainty and costs for exporters. Additionally, voluntary compliance measures, extended deadlines, and eased reporting requirements aim to enhance compliance and boost handicraft exports.
Trump’s tariffs on Canada, Mexico, and China aim to close a loophole that allowed duty-free imports of small packages under $800, targeting especially Chinese e-commerce retailers. This move will impact companies like Alibaba and Shein, which heavily relied on the de minimis exemption to ship goods directly to US consumers.
Union Budget 2025: The Budget 2025-26 has introduced incentives for domestic shipbuilding, recycling, and inland waterways. Finance Minister Nirmala Sitharaman announced measures like Shipbuilding Clusters, revamped financial assistance, and extended customs duty exemptions for these industries. The tonnage tax scheme will also be expanded to include inland vessels to promote water transport.