Commerce and Industry Minister Piyush Goyal addressed the Rajya Sabha, stating that India is negotiating with the European Union to resolve issues arising from new EU trade regulations, including the deforestation Act. The discussions aim for mutual resolutions that do not harm Indian industries. Goyal emphasized reciprocity in quality certification and strong actions against unfair […]
India in talks with EU to resolve new trade regulations: Piyush Goyal
India plans to launch Bharat Container Line to reduce reliance on foreign vessels and boost overseas trade. The initiative will start with 100 container vessels focusing on key trade routes. A ₹25,000 crore Maritime Development Fund will support shipbuilding and infrastructure development. The government aims to strengthen the domestic shipbuilding industry and enhance global trade […]
The Indian government is assessing the impact of US tariffs imposed on China and is consulting with industry representatives. India expects to benefit from increased US orders but is cautious about potential negative effects, including the risk of Chinese goods being dumped in the country due to excess capacity.
The government has extended the ban on exports of de-oiled rice bran till September 30, 2025, to help control domestic prices and ensure availability for cattle feed. Additionally, DGFT has updated norms regarding wastage and standard input-output for the export of jewellery to align with duty-free metal imports.
India is reviewing import tariffs on over 30 items, including luxury cars and solar cells, to potentially increase imports from the US. This move aims to reduce average tariffs and improve trade ties amid global trade tensions. Consultations with local industry and various govt departments will determine the potential tariff reductions.
India, Oman FTA talks progressing; both sides to hold another round of negotiations: Official
9 months ago
Negotiations for a Free Trade Agreement between India and Oman progress well, with another round of talks planned to resolve remaining issues. Progress was boosted by Commerce Minister Piyush Goyal’s visit to Muscat. The deal aims to expand economic cooperation, significantly reducing or eliminating customs duties on traded goods and easing trade norms.
The renewed US-China trade war, sparked by Trump’s policies, presents India with lucrative economic opportunities from trade diversions and increased exports. While India stands to gain, it must navigate carefully to avoid falling into protectionist traps set by either superpower. Modi’s potential visit to the US could secure favorable trade terms.
India’s fruit and vegetable exports surge 47.3 pc with APEDA’s financial assistance: Commerce Ministry
9 months ago
India’s fruits and vegetable exports have surged by 47.3% from 2019-2020 to 2023-2024, fueled by financial aid schemes from APEDA. The support includes developing essential export facilities and quality management systems, participating in trade fairs, and expanding into 17 new markets over the last three years.
India working on compromise proposal to resolve origin rules differences with EU in FTA talks
9 months ago
India and the European Union are negotiating product-specific rules of origin for their bilateral free trade agreement to prevent circumvention and the inflow of cheap imports. The discussions include chemicals and textiles sectors, with the tenth round of negotiations scheduled for mid-March in Brussels.
India stands to win US-China trade war
9 months ago
India is expected to benefit from the ongoing US-China trade war, with increased export orders and value. However, the country will not be entirely shielded from the repercussions. The imposition of tariffs by the US on Chinese goods could provide substantial opportunities for Indian exports, particularly in sectors like electrical machinery, auto components, and pharmaceuticals.