India has firmly countered the statements made by US Commerce Secretary Lutnick regarding stalled trade discussions. Officials affirmed that Prime Minister Modi and President Trump are in regular communication, with the Ministry of External Affairs underscoring ongoing high-level interactions.
‘PM Modi and Trump have spoken eight times in 2025’: India rejects Lutnick’s claim that stalled trade talks were due to lack of outreach
Bangladesh has halted new onion import permits from India, prioritizing domestic farmers. While 10 lakh tonnes are exported to Bangladesh, Indian onions remain sought after globally. Imports under existing permits will proceed until January 30, as Indian exporters seek government subsidies to compete internationally.
India and the European Union are in talks for a Free Trade Agreement. Discussions focus on a modern economic partnership. Both sides aim to safeguard farmers and MSMEs. Negotiations are ongoing to bridge differences. The goal is to conclude the talks soon. This pact could boost Indian exports to the EU market.
In a striking political maneuver, US President Donald Trump is endorsing legislation that would impose a staggering 500% tariff on Russian oil purchasers. Indian oil executives perceive this as a tactical pressure play in ongoing trade negotiations rather than a serious ultimatum. The intention appears to be to coerce India while nudging Russia towards a […]
Go Swadeshi: CEA V Anantha Nageswaran calls for urgent indigenisation amid global trade headwinds
2 months ago
The Chief Economic Adviser has spotlighted key industries such as semiconductors, defence production, and critical industrial chemicals for self-sufficiency. Targeting a decrease in import reliance, this plan aspires to elevate India’s economic influence internationally.
500% Trump Tariffs? India could pay the price on Russian oil sanctions while China cruises free
2 months ago
A proposed sanctions bill in the US is set to deliver heavy tariffs on nations importing inexpensive Russian oil. India could face significant repercussions, while China appears insulated from these measures.
Finance Ministry plans to scrap curbs on Chinese firms bidding for government contracts, sources say
2 months ago
India’s finance ministry is set to remove restrictions on Chinese firms bidding for government contracts. These curbs were imposed in 2020 following border tensions. The move aims to boost commercial ties and address project delays. Several ministries have requested exemptions to overcome constraints. A high-level committee also recommended easing these measures.
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Union Budget: India plans to simplify its customs duty structure. The government is considering reducing the number of duty slabs to five or six. This move aims to cut down on disputes and make import duties align better with national priorities. The upcoming budget is expected to announce these changes.
India’s natural mentha oil industry faces a crisis. Exports and production have fallen significantly. Synthetic mint, a cheaper lab-grown alternative, is flooding markets. Farmers are shifting to other crops as demand for natural mentha wanes. Bulk buyers now prefer the synthetic version for its consistent quality and lower cost. This trend threatens the future of […]