India must engage with China, US on equal terms: GTRI

Think tank GTRI advises India to maintain strategic autonomy while engaging with both China and the US, prioritizing economic interests and global trade principles. This comes amid China’s warning of retaliation against nations aligning with US trade efforts. India’s trade deficit with China widened to USD 99.2 billion in 2024-25, even as the US remains […]

India’s leather, non-leather footwear, and product exports surged by approximately 25% to $5.7 billion in 2024-25, according to the Council for Leather Exports (CLE). Driven by healthy demand in developed and developing nations, shipments are projected to exceed $6.5 billion in the current fiscal year.

Prime Minister Modi’s Saudi Arabia visit aims to strengthen energy ties, with Saudi Arabia seeking to increase crude supplies to India amid Chinese market challenges. Riyadh may offer concessional rates and invest in Indian refineries. Saudi Arabia’s ‘Vision 2030’ faces financial constraints, presenting opportunities for Indian companies.

India has a significant opportunity to export rapeseed meal to China, potentially worth Rs 1000 crore, due to the ongoing trade tensions between China and Canada. China’s retaliatory tariffs on Canadian rapeseed meal, coupled with EU shortages, have created a favorable environment for Indian exports.

India and US trade negotiations are progressing. Discussions will begin on April 23 in Washington. India aims for an early agreement during the 90-day tariff pause. Both countries have finalized the agreement’s terms. They want to double trade to USD 500 billion by 2030. The US seeks concessions on industrial goods and agriculture. India wants […]

Indian trade negotiators will visit Washington DC this week to explore an “early tranche” of a proposed bilateral trade deal with US, which may include a limited set of mutually beneficial issues. The broader agreement spans 19 chapters, covering regulatory matters like digital tax, tariffs, and customs rules, with detailed offers to come later.

Developed nations, once critical of tariffs, are now employing them to protect domestic industries, echoing arguments previously made by developing countries. The US, for example, has imposed tariffs on steel and aluminum. This shift signals a change in global trade dynamics, with advanced economies prioritizing livelihood protection and questioning established principles like special treatment for […]

India and the US have finalised terms of reference for a proposed bilateral trade agreement, covering 19 chapters on issues like tariffs, goods, non-tariff barriers and customs facilitation, official sources said. A three-day round of talks will begin in Washington on April 23 to resolve pending issues during the 90-day tariff pause.

India’s move to protect against substandard imports is creating supply chain risks for electronics manufacturers, potentially hindering export competitiveness. Quality control orders on base metals unintentionally affect the electronics sector, causing sourcing constraints. Industry executives are seeking exemptions for electronics products, as these require high-grade raw materials not readily available in India, potentially disrupting production […]

Prime Minister Modi’s upcoming visit to Saudi Arabia on April 22 will prioritize boosting the India-Middle East-Europe Economic Corridor (IMEC), particularly the Saudi segment. Discussions will also cover energy cooperation, increased Saudi investments in India, and regional stability amidst US-Iran peace talks. India aims for a stable West Asia to protect its energy and economic […]