The WTO has significantly lowered its merchandise trade forecast for 2025, projecting a 0.2% decline due to the US-led trade war, a sharp contrast to the previously anticipated 2.7% growth. North America is expected to experience a steep drop in exports, while trade diversions are anticipated to benefit China and potentially open opportunities for least-developed […]
Global trade to shrink in 2025 due to US tariff war: WTO
India and the US are set to begin face-to-face discussions in mid-May regarding their proposed bilateral trade agreement, following virtual talks this week. India aims to finalise the initial phase of the trade pact swiftly, potentially by September-October. Officials are monitoring potential import surges due to global tariff uncertainties, with a dedicated cell established for […]
ITC Chairman Sanjiv Puri has urged expedited bilateral economic pacts and free trade agreements to expand India’s competitive edge amid global trade uncertainties. He has cautioned against potential dumping from countries facing tariffs and emphasised the need for agile monitoring.
Goods exports up 0.7%, trade gap widens
1 year ago
India’s merchandise exports edged up 0.08% to $437.42 billion in FY25, despite global headwinds, marking a new high, according to recent data. However, a surge in imports widened the trade deficit to $282.82 billion. The US remained India’s top export destination.
The Indian government has established an inter-ministerial group to monitor potential import surges due to global trade tensions and high tariffs on countries like China and Vietnam. This move aims to prevent the diversion of goods to India and address concerns about increased inflow of US agricultural products.
Indian exporters brace for potential freight rate hikes following the U.S. decision to temporarily pause reciprocal tariffs, excluding China. This move has spurred a surge in shipments, straining container availability and potentially leading to double-digit rate increases. Experts caution that uncertainty and Red Sea instability compound challenges for India’s container logistics sector, heavily reliant on […]
India has identified ten sectors, including apparel, chemicals, and pharmaceuticals, where high US tariffs on China provide a competitive edge. The goal is to capitalize on this advantage to offset losses in other sectors.
Opportunity in every parcel: India’s e-commerce export window widens after U.S. tariff shift
1 year ago
The United States has ended duty-free treatment for low-value imports from China and Hong Kong, creating a significant advantage for Indian e-commerce exporters. This policy shift allows Indian businesses, particularly MSMEs, to compete more effectively in the U.S. market.
India’s cut and polished diamond exports hit a near two-decade low in fiscal year 2024/25 due to weak demand from the U.S. and China. This decline significantly impacted overall gem and jewelry exports, dropping them to a four-year low. Despite a March surge in exports ahead of potential U.S.
India and the United States are finalizing terms for a bilateral trade agreement, aiming for $500 billion in trade by 2030. Negotiations will address India’s restrictions on farm goods, including tariffs on staples like rice and wheat. The U.S. seeks access for corn, soybeans, and animal feed, while India has concerns about genetically modified crops […]