India strengthens position in digital service exports: Report

India, the Philippines, and several African economies are strengthening their business process and digital service exports, according to The Global Value Chain Development Report 2025. This shift highlights the growing importance of services in manufacturing and indicates that global value chains remain crucial, with GVC trade declining only marginally from its peak.

India and the US are nearing a framework trade deal. Commerce Secretary Rajesh Agrawal stated that further formal discussions may not be needed. Negotiations with the European Union on a free trade agreement have entered a difficult phase. India and the EU are working to resolve differences, including the Carbon Border Adjustment Mechanism.

The strong export growth, the fastest since June 2022, and a 1.88% fall in imports to $62.66 billion drove the trade deficit to a five-month low of $24.53 billion.

India and the Philippines are boosting digital services exports. Global supply chains are proving resilient, adapting to new economic and political needs. Digital trade and data flows are crucial for this adaptation. Countries are exploring carbon pricing to decarbonise supply chains. The automotive sector is transforming with the rise of electric vehicles, led by China’s […]

India eyes a $100 billion trade target with Russia by 2030, identifying 300 products across engineering, pharma, agri, and chemicals with significant export potential. Despite a current $1.7 billion export figure against Russia’s $37.4 billion imports, a substantial complementary space exists to bridge India’s $59 billion trade deficit.

India and Oman are poised to sign a Comprehensive Economic Partnership Agreement (CEPA) during Prime Minister Narendra Modi’s visit to Muscat. This free trade agreement, approved by the Union Cabinet, aims to significantly deepen economic ties and open a new chapter in bilateral trade and commercial relations.

India and Georgia held their 8th Foreign Office Consultations in Tbilisi. Discussions focused on strengthening bilateral ties across political, economic, and cultural spheres. Both nations reviewed regional and global issues. This meeting aims to deepen the strategic relationship. Historical and cultural links between the two countries were also highlighted.

India and Mexico are discussing a free trade agreement. This comes as Mexico plans to impose new tariffs on imports from non-preferential partners like India. The terms of reference for the pact are expected soon. Both nations aim for mutually beneficial solutions. This move could strengthen bilateral trade ties and address concerns over rising duties.

Three US lawmakers have introduced a resolution in Congress. They aim to end tariffs imposed by the Trump administration on India. The lawmakers believe this tariff strategy is counterproductive. It weakens a critical partnership between the two nations. The resolution seeks to terminate the national emergency that authorized these tariffs.

India is actively engaging with Mexico to find mutually beneficial solutions regarding Mexico’s unilateral tariff hikes on certain products. While New Delhi seeks to protect its exporters’ interests, both nations are also working towards finalizing terms for a free trade agreement to stabilize trade relations.