India’s global trade presence has transformed under Prime Minister Narendra Modi. New trade agreements are opening markets in Europe, the Gulf, Oceania, and North America. These deals ensure preferential access for Indian exports, boosting sectors like IT, textiles, and gems. Sensitive agricultural products remain protected.
Sarbananda Sonowal hails PM Modi’s trade push, calls it break from Congress era
A significant basmati rice deal has been struck. An Indian Rice Exporters Federation member will supply 5,000 tonnes to the United States. This agreement follows the finalisation of the India-US trade deal. America has agreed to reduce tariffs on Indian goods. This development is a positive step for Indian rice exports.
India has offered quotas for most agricultural products in its proposed interim trade agreement with the United States. Officials stated the quantities are largely small and align with import needs. The pact aims for a March signing. India’s chief negotiator will visit Washington to finalize the legal text.
In an important diplomatic move, Darpan Jain, a senior IAS officer, will spearhead India’s delegation in Washington next week. This visit will focus on cementing the legal framework of the proposed India-US Interim Trade Agreement as negotiations transition into the drafting phase. The trip is crucial for solidifying a partnership that promises mutual trade benefits […]
In a significant decision, the National Green Tribunal has green-lighted the ambitious Great Nicobar mega infrastructure project. After thorough inspection, the tribunal determined that the environmental clearances come with robust protective measures. It underlined the project’s vital role in regional development.
India’s textile and apparel exports saw a dip in January. High tariffs from the United States impacted shipments. However, a recent reduction in these tariffs is expected to boost export competitiveness. This change should support a recovery in textile and apparel shipments in the coming months. The sector’s share in India’s total exports also saw […]
Gold, silver import surge pushes India’s January trade deficit to 3-month high of $34.68 billion
1 month ago
Surging gold and silver imports widened India’s January trade deficit to $34.68 billion. Imports jumped 19% while exports barely grew, with services offering limited relief amid weak global demand.
India’s chief negotiator Darpan Jain will lead a delegation to Washington next week to finalize the legal agreement for the India-US trade deal, aiming for a March signing. The visit follows the finalization of an interim trade agreement framework, with virtual talks ongoing to translate contours into a legal pact.
Digital trade chapter not in India-US interim trade pact; to be taken up in BTA, says official
1 month ago
India and the US have not yet discussed digital trade in their initial trade agreement. This crucial chapter will be negotiated as part of the larger bilateral trade agreement. US companies are eager to explore India’s rapidly expanding digital trade sector. The two nations are committed to establishing clear rules for digital trade.
India, UK making genuine effort to see if FTA can be operationalised in April: Commerce Secy
1 month ago
India and the UK are genuinely working towards operationalizing their free trade agreement in April, aiming for 99% of Indian exports to enter the British market duty-free. Meanwhile, India is also seeking to expand its preferential trade agreement with Mercosur and is in negotiations for FTAs with Israel and Canada.