India’s merchandise trade deficit is set to face pressure in fiscal year 2026 due to strong domestic private consumption inflating imports, and potential export declines amid a slowing global and US economy. The resilient service trade surplus will offer some cushion, but heightened risks from US tariffs persist.
India’s merchandise trade deficit will be under pressure in fiscal 2026, services sector to provide respite: Crisil
Fincantieri, a leading global shipbuilding company, views India as a key partner for co-developing and co-producing next-generation vessels, emphasizing collaboration with Indian shipyards. CEO Pierroberto Folgiero discusses opportunities in naval defence, advancements in submarine technology, and strategic partnerships, aligning with India’s Atmanirbhar Bharat initiative to enhance self-reliance and joint ventures in the Indo-Pacific region.
In 2024, China and India surpassed global trade norms, driven by developing economies and robust services trade. Despite record expansion, the UN Trade and Development warns of rising protectionism and emerging trade imbalances. As geopolitical tensions and shifting policies threaten stability, balanced policies and global cooperation are crucial for maintaining long-term growth and preventing economic […]
Piyush Goyal allays exporters’ fears on US reciprocal tariffs, confident of $900 bln exports in FY26
1 year ago
Commerce Minister Piyush Goyal reassured exporters of safeguarding India’s interests in the US Bilateral Trade Agreement. He urged against protectionism, encouraged industry input on export-promotion, and discussed measures to counter Chinese dumping. With plans to surpass $800 billion exports, Goyal highlighted ongoing efforts to finalize beneficial trade agreements and ensure market access for Indian goods […]
America’s Commerce Secretary, Howard Lutnick, stated that India blocks U.S. farmers’ products and emphasized that President Trump aims to negotiate with countries like India that hinder access to global markets. He praised the UK and Mexico for avoiding retaliation against U.S. tariffs but warned that countries upsetting Trump could face severe responses.
New quality control orders for steel parts may lead to factory shutdowns, job losses: GTRI
1 year ago
India risks widespread factory shutdowns and job losses due to upcoming quality control orders (QCOs) on steel fastener imports. The QCOs, to be implemented in phases, might lead to critical shortages and customs delays. Small firms may struggle with certification, potentially causing industrial stagnation.
India is in talks with the Democratic Republic of Congo (DRC) to sign an agreement securing critical minerals like cobalt and copper. These minerals are vital for India’s energy transition and growing industrial demands. India is looking to secure such supplies from resource-rich countries like Congo, Mongolia, and Zambia. The Indian mines ministry plans to […]
India’s trade deficit likely narrowed to USD 21.5 billion in February from January’s USD 23 billion, driven by a moderation in the Non-Oil-Non-Gold segment. The oil trade deficit decreased due to lower global Brent crude prices and reduced oil imports from Russia. Rising geopolitical risks and tariffs could limit further trade balance recovery.
India imposes 150 pc tariff on American alcohol, 100 pc tariff on agriculture goods: White House
1 year ago
The US has strongly criticised high tariffs imposed by India, Canada, and Japan on American goods. White House Press Secretary Karoline Leavitt cited India’s 150% tariff on American alcohol and 100% on agricultural products, saying the US seeks fair trade. President Donald Trump also suggested further tariff hikes, accusing nations of exploiting the US for […]
To get past US tariffs, India to take FTA route; increased market access, lower duties on cards
1 year ago
India and the US are in negotiations for a mutually beneficial, multi-sector bilateral trade agreement focusing on market access, reducing import duties, and removing non-tariff barriers. Both countries aim to double their two-way trade to $500 billion by 2030, with the first part of the agreement expected by fall 2025.