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 identifies 300 products to boost exports to Russia
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.
Trump’s ‘illegal’ tariffs on India challenged as US lawmakers move to end emergency duties
3 months ago
Trump India Tariffs: Democratic lawmakers have introduced a resolution to terminate the national emergency used by President Trump to impose steep tariffs on Indian imports. They argue these “illegal tariffs” abuse executive power, damage a key strategic partnership, and harm American workers and consumers. The move aims to restore Congress’s constitutional authority over trade and […]
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India’s apparel sector anticipates a significant boost from the India-EU Free Trade Agreement. Negotiations are progressing positively, aiming to reduce import duties on Indian garments in the European Union. This move is projected to increase exports by 20-25% in the coming years. The agreement will foster stable investment and strengthen India’s position in premium European […]