The government is addressing trade restrictions with the EU and focusing on sectors like Agri-food, APIs, and Clean Technologies. Aiming for a fair Free Trade Agreement, it also highlights the importance of imports from China for various industries and introduces stringent quality controls to curb sub-standard imports.
Strongly taken up trade restrictive measures with EU: Govt to Parliament
India and Malaysia have agreed to expedite the review of the Asean India Trade in Goods Agreement (AITIGA) for a substantial conclusion by 2025. Both sides also discussed bilateral trade, market access, and other areas of cooperation. A joint committee meeting is scheduled for April 9-11, aiming to advance the review process this year.
Slovenia’s potential involvement in the IMEEC could position Port Koper as a vital trade route between India and Central/Eastern Europe. Slovenian Minister Tanja Fajon highlights direct shipping links, potential economic benefits, and support for a Free Trade Agreement between the EU and India. SITE initiative collaboration aims at sectors like renewable energy, space, and food […]
India’s merchandise exports decreased by 10.9% in February, marking the sharpest decline in 20 months due to subdued global demand and a high base effect. Imports also dropped by 16.3%, leading to a reduced trade deficit of $14 billion, the lowest in 42 months.
India and the EU should collaborate to address non-tariff barriers and align standards to ease trade, amid global economic uncertainties, said Jitin Prasada, India’s minister of state for commerce and industry. He emphasized the need for Europe to diversify its supply chain and highlighted India’s large talent pool in sectors like IT, engineering, healthcare, and […]
Moody’s Ratings warns that US tariffs pose risks to South and Southeast Asian companies, notably in automotive, steel, and chemicals sectors. Indian IT giants like TCS and Infosys are well-positioned despite potential US immigration policy changes. Vehicle export impacts are limited, with most mining and energy firms unaffected.
India and the US are finalizing a Bilateral Trade Agreement (BTA) and have not yet addressed reciprocal tariffs. Commerce Secretary Sunil Barthwal indicated active engagement and stakeholder consultations, anticipating a positive outcome. During his visit to Washington from March 4-6, Goyal met with US Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer.
Indian port industry to grow 4-7% over next 5 years, supported by rising imports, declining freight costs: Report
7 months ago
India’s port industry is projected to grow at 4-7% annually over the next five years, driven by rising imports and decreased freight costs. Key ports like Chennai will play a pivotal role in transshipment, while capacity is expected to increase significantly, surpassing 500 MTPA annually.
Exporters in sectors like electronics, gems and jewellery, apparel, and footwear are airlifting goods to the US to avoid reciprocal tariffs starting April 2. This method is mainly viable for specific products due to time constraints. Exporters are adjusting shipment volumes to accommodate buyer requests, spreading deliveries over several months.