A deal for the India-European Union free trade agreement is consistently under work and top EU leaders will visit India soon for a summit and the Republic Day parade. Negotiations are ongoing to resolve key differences on issues like carbon tax and duty cuts.
India, EU teams in constant engagement to resolve contentious issues of FTA: Official
India’s cotton imports reached a record 3.1 million bales in the December quarter. This surge followed New Delhi’s decision to allow duty-free imports. Imports are projected to hit a new high of 5 million bales in the 2025/26 marketing year. Despite higher local crop estimates, increased imports may impact domestic prices.
The Gem & Jewellery Export Promotion Council (GJEPC) has submitted pre-budget recommendations to the Union finance minister, seeking duty rationalisation, SEZ reforms, and tax reforms for exporters. The council aims to position India as a global diamond trading hub and enhance cost-competitiveness amidst geopolitical uncertainties and slowing demand.
GMR Aero Cargo & Logistics has launched India’s first airside reefer truck at Rajiv Gandhi International Airport. This new truck ensures cold-chain integrity for temperature-sensitive cargo. It maintains precise temperatures between +2°C and +25°C. The facility eliminates temperature exposure during ramp transfers. This marks a significant advancement for perishable and pharmaceutical logistics in India.
US President Trump announced a 25% tariff on countries trading with Iran, aiming to pressure Tehran amidst anti-government protests. However, the move is expected to have a limited impact on India’s overall trade, as most of its exports to Iran are humanitarian in nature and already compliant with US sanctions.
Iran unrest delays India’s ₹2,000 cr basmati rice export dues; exporters eye new markets
5 months ago
Indian basmati rice exports are facing a significant setback as payments worth approximately ₹2,000 crore are stuck as protests in Iran have halted trade. Iran, a major buyer, is unable to remit payments or honor contracts. This disruption is causing uncertainty for exporters, impacting basmati rice prices in India’s wholesale markets.
Spice exporters may face heat from China chillies
5 months ago
China is now growing and exporting cumin and chillies, key Indian spice exports. This development poses a challenge to India’s global leadership in spices. Chinese spices are often cheaper, even after local processing. This shift’s impact will become visible in the coming seasons. Farmers are planting less due to crop losses and low export prices.
India, US discuss trade, minerals, defence & energy in latest talks between Jaishankar and Rubio
5 months ago
External Affairs Minister S Jaishankar held discussions with US Secretary of State Marco Rubio, covering trade, critical minerals, nuclear cooperation, defense, and energy. Both leaders agreed to maintain ongoing contact on these vital bilateral issues.
India’s trade with Iran is minimal, representing a small fraction of its total commerce. Recent US tariff announcements targeting countries doing business with Iran are not expected to significantly affect India’s economic engagement. Indian exporters remain watchful but composed. Trade with Iran is projected to decline further due to external economic factors.
US Ambassador designate Sergio Gor announced that trade pact discussions with India will resume Tuesday, aiming to resolve differences beyond tariffs. He emphasised the strong personal relationship between Trump and Modi, highlighting the partnership’s significance beyond trade, encompassing security, technology, and energy cooperation.