Shrimp exporters seek govt aid as Trump tariffs threaten USD 2 bn of exports

The Seafood Export Association of India is seeking emergency financial support due to increased US tariffs on shrimp exports, potentially disrupting USD 2 billion worth of trade. These tariffs, escalated by President Trump, make Indian seafood less competitive compared to China, Vietnam, and Thailand.

India and Oman have concluded negotiations for a comprehensive trade deal, initiated in 2023, as confirmed by Minister Jitin Prasada. This agreement builds upon the longstanding strategic partnership between the two nations, fostering trade and investment. In the past five years, India has actively strengthened its trade ties by signing five major FTAs and is […]

India’s Ambassador Vinay Mohan Kwatra discussed energy security with US Senator Lindsey Graham, highlighting growing energy trade. This followed Graham’s call for India to use its influence with Russia to help end the Ukraine war, amidst rising trade tensions after the US imposed tariffs on Indian imports due to continued Russian oil purchases.

India and Oman are poised to finalize a free trade agreement soon, with the text currently being translated into Arabic for Omani cabinet approval. Both nations intend to jointly announce the conclusion and signing of the Comprehensive Economic Partnership Agreement (CEPA), potentially in less than two to three months. Bilateral trade between the countries exceeded […]

Investment strategist Christopher Wood has advised countries to collectively respond to US tariffs. He warneds against separate deals, fearing it will weaken global trade. Wood criticized the US imposing tariffs on India and Brazil. Exemptions were granted to companies investing in the US. The Trump administration adopted a flexible trade strategy. Several nations negotiated lower […]

Former Minister MJ Akbar suggested President Trump’s protectionist policies could make him the “most socialist president” by challenging free trade. He highlighted the inconsistency of US tariffs, particularly concerning India’s Russian oil purchases, while China faces no such action.

Donald Trump has refused trade talks with India until tariff issues are settled. This follows the US raising tariffs on Indian imports to 50%. The US trade negotiators are still expected to visit New Delhi later this month for trade agreement talks. An Indian official confirmed that the visit is still on schedule.

Amidst a challenging global trade environment, the Indian government has formed a committee to assess the impact of taxes, incentives, and procedures on exports. This move comes as India’s June exports saw a slight dip and the US imposed significant tariffs.

Moody’s Ratings projects that the US’s 50% tariff on Indian goods could reduce India’s economic growth by 0.3 percentage points in 2025-26. This widened tariff gap compared to other Asia-Pacific nations may hinder India’s manufacturing ambitions, especially in high-value sectors. SBI estimates India’s fuel import bill could rise significantly if Russian oil imports cease.

Government e-Market (GeM) will introduce a global tender enquiry feature this year to boost competition, aligning with India’s opening of public procurement under FTAs like those with the UAE and the UK. This addition will enable ministries to access a broader range of international vendors. GeM, which recorded ₹5.