India restricts port imports of garments, processed food and other select items from Bangladesh

The Directorate General of Foreign Trade has imposed immediate port restrictions on specific imports from Bangladesh. Ready-made garments can now only enter through Nhava Sheva and Kolkata seaports, excluding land ports. Furthermore, various goods like processed foods, plastics, and wooden furniture face restrictions, barring entry through Land Customs Stations and Integrated Check Posts in several […]

Trump hinted at a potential trade deal with India coming, mentioning India’s willingness to eliminate all tariffs on US goods, though he stated he’s in “no rush.” External Affairs Minister S. Jaishankar emphasised that any agreement must be mutually beneficial.

India and the US are set to begin crucial trade talks in Washington. Piyush Goyal will meet with US officials to advance the bilateral trade agreement. Discussions will cover market access and non-tariff barriers. Both nations aim for an interim trade deal before finalizing the agreement this fall. The US remains India’s largest trading partner, […]

Following Turkiye’s support for Pakistan during recent hostilities with India, jewellers in Lucknow have boycotted Turkish jewellery. This decision will impact the purchase, sale, and display of Turkish-designed items, halting imports and cancelling existing orders.

President Trump announced plans to unilaterally set tariff rates for numerous US trading partners within weeks, citing insufficient resources for individual negotiations. Treasury and Commerce officials will issue letters outlining these tariffs. While prioritizing talks with key nations, the administration aims to implement reciprocal tariffs, potentially impacting US consumers as costs are passed down.

Indian traders have declared a complete boycott of Turkey and Azerbaijan due to their support for Pakistan during a recent conflict. The Confederation of All India Traders (CAIT), representing millions, announced the immediate halt of all imports and exports. Companies are warned against filming in these nations, facing boycotts themselves.

India’s trade surplus with the UK has seen a slight increase over the last decade. A newly established Free Trade Agreement is set to boost trade relations. Merchandise trade has grown modestly, with imports outpacing exports. The FTA is expected to eliminate duties on most Indian exports. Reduced tariffs will also benefit Indian consumers.

External Affairs Minister S Jaishankar has confirmed that trade negotiations between India and the United States are actively in progress, though he cautioned against premature conclusions, emphasizing the need for mutual benefit. Simultaneously, President Trump linked the recent India-Pakistan ceasefire to a shift towards commerce, following heightened tensions and India’s retaliation for a terror attack.

India’s merchandise exports surged by 9.03% in April, reaching a six-month high, driven by a 27% increase in exports to the US. However, a significant rise in imports led to a higher trade deficit. Increased exports of electronics and engineering goods contributed to the growth, while rising crude oil and gold imports also played a […]

The government is contemplating reinstating interest subsidies on export credit, particularly for MSMEs, under the proposed Export Promotion Mission. This move aims to enhance their competitiveness amidst global tariff uncertainties, addressing concerns raised after the previous interest equalisation scheme was discontinued in December 2024.