Commerce and Industry Minister Piyush Goyal met with European Commissioner for Trade Maros Sefcovic in Brussels to advance free trade agreement negotiations, aiming for an early harvest deal by July. Discussions cover key areas like IPR, government procurement, and tariffs.
Piyush Goyal meets EU counterpart for second time in a month on FTA talks
The commerce and industry ministry has assessed that the utilisation of the preferential route under the Asean-India Trade in Goods Agreement (AITIGA) for the export of many goods, including chemicals and plastics, to Thailand is below 50%. The AITIGA was signed in 2009 and came into effect in 2010.
Decathlon plans to significantly increase its sourcing from India, potentially doubling it to 15% of global procurement, following the anticipated India-EU FTA. This shift could revolutionize India’s sporting goods production due to eliminated export duties and a shorter lead time to Europe compared to competitors like Vietnam and Bangladesh. Currently, Decathlon sources ₹4,150 crore worth […]
The US has informed the WTO that it sees no basis for India’s proposal to suspend concessions in response to American tariffs on steel and aluminium, arguing that these tariffs are not safeguard measures. India proposed retaliatory duties on 29 American products, claiming the US measures affect $7.6 billion in imports.
India has requested BRICS countries to remove export restrictions to promote commerce. Yashvir Singh represented India at the BRICS trade ministers’ meeting in Brazil. India will assume the BRICS Presidency in 2026. India proposed ’30 for 30′ to mark WTO’s 30th anniversary. India has asked developed nations to ensure concessional transfer of Environmentally Sound Technologies.
India has resumed imports of permanent magnets from China after the Directorate General of Foreign Trade (DGFT) began issuing certificates. These certificates assure that the magnets will not be used for defense purposes or re-exported to the United States. The DGFT has issued approximately 30 certificates, one for each consignment, streamlining the process for import.
Adani Ports secured a $150 million bilateral loan from DBS Group, signaling a recovery in lender confidence after recent challenges. The four-year dollar loan, priced at 200 basis points above SOFR, will fund capital expenditure. This marks the group’s first loan from a global bank since the US Department of Justice indictment.
Piyush Goyal meets US Secretary Howard Lutnick for a mutually beneficial India-US trade agreement
5 months ago
Piyush Goyal and Howard Lutnick met to discuss a trade agreement. Both nations want stronger economic ties. India and the US may sign a Bilateral Trade Agreement soon. India seeks concessions on leather and textiles. They aim to increase exports. The US was India’s largest trading partner in 2024-25.
‘India, Oman close to signing trade pact’
5 months ago
India and Oman are nearing the completion of a comprehensive economic partnership agreement, though a few obstacles remain. India seeks to freeze Oman’s ‘Omanisation’ policy, which requires private sector firms to hire a certain percentage of Omani nationals, at current levels. Market access demands for petrochemical products are also under discussion.
India’s Financial Intelligence Unit is scrutinizing transactions of 20 export houses suspected of laundering money to and from Pakistan via the UAE. The probe centers on inflated prices and commissions in trades involving items like jewelry, beauty products, and electric goods. Authorities suspect the funds may have links to terror, prompting a thorough investigation into […]