Indo-US trade deepening from startups to defence firms, says US official Andrews

The US and India are strengthening their defense trade, including collaborations with small startups, defense PSUs, and the private sector, said Jorgan K. Andrews. At the Aero India 2025 event, the US showcased advanced defence technologies and emphasized technology sharing, joint ventures, and industrial partnerships, reflecting their commitment to the US-India Major Defense Partnership.

India has significantly high tariffs that prevent imports, according to U.S. President Donald Trump’s top economic adviser Kevin Hassett. He indicated that Indian Prime Minister Narendra Modi has much to discuss with Trump in their upcoming meeting, with Trump advocating for reciprocal tariffs to match those imposed by other countries.

Indian Prime Minister Narendra Modi is preparing tariff cuts to boost American exports and avoid a trade war with the U.S. during his upcoming meeting with President Trump. Discussions will focus on sectors like electronics and medical equipment, with the aim of increasing U.S. imports and fostering better bilateral trade relations.

Prime Minister Narendra Modi will visit France to co-chair the AI summit with President Emmanuel Macron. Trade between India and France has increased slightly but remains focused on defense and aerospace. There are opportunities for more Indian companies to invest in France, as French markets are more accessible now.

India’s trade is set to grow at a 6.4% CAGR, reaching USD 1.8 trillion by 2033. Significant growth is expected with the US, EU, ASEAN, and Africa, while China’s trade with the West slows. India’s expanding role as a production hub and increased foreign investment contribute to its trade surge, especially in technology and manufacturing […]

Deputy Managing Director of EXIM Bank, Tarun Sharma, highlights the importance of the manufacturing sector in achieving India’s aim of USD 2 trillion in goods and services exports by 2030. He emphasizes the need for significant investment in the textile sector and supports the announced changes in MSME classification criteria to drive growth.

India’s pharmaceutical sector is witnessing remarkable growth, almost achieving its export target before FY25. Drug formulations and biologicals lead the exports, supported by significant growth in the US and Europe, despite challenges. A notable potential in Russia and recovering Africa market further bolster optimism.

India remained a net importer of steel, with a notable 20.3% increase in imports, reaching 8.29 million tonnes from April to January this fiscal year. Meanwhile, steel exports fell by 28.9% to 3.994 million tonnes. Industry leaders raise concerns about the impact of increased imports, particularly from China, on competitiveness, urging higher customs duties on […]

India’s exports are set to achieve a record USD 800 billion in the 2024-25 fiscal year, as Commerce and Industry Minister Piyush Goyal announced. Goyal also noted that certain imports are essential due to domestic shortages, and an increase in imports is indicative of rising domestic consumption, creating jobs and attracting investment.

Commerce and Industry Minister Piyush Goyal addressed the Rajya Sabha, stating that India is negotiating with the European Union to resolve issues arising from new EU trade regulations, including the deforestation Act. The discussions aim for mutual resolutions that do not harm Indian industries. Goyal emphasized reciprocity in quality certification and strong actions against unfair […]