India keen to diversify crude oil, coking coal sources; eyes high-quality US supplies: Piyush Goyal

India aims to diversify its crude oil and coking coal imports, expressing interest in high-quality US coking coal. The nation also seeks US technology like GPUs for AI and data center equipment. India plans to purchase USD 500 billion in goods from America over five years. This trade deal opens opportunities for Indian firms in […]

India and Canada are set to finalize terms for free trade agreement talks. Canadian Prime Minister Mark Carney’s upcoming visit to India is expected to see this agreement. Talks for a trade pact were paused by Canada in 2023. Both nations are now resuming negotiations to establish a mutually beneficial trade pact. Chief negotiators have […]

This is the first significant ‌easing of ⁠five-year-old curbs that ⁠have largely shut Chinese firms out of India’s $700 billion-$750 billion government contract market.

India’s oilmeal exports saw a significant drop of 42 percent in January. Shipments of soyabean meal and rapeseed meal plunged, impacting the overall figures. Ricebran extraction, however, showed a surge. This decline affects animal feed supplies. Key buyers include China, South Korea, Bangladesh, and Germany. Processors awaited new crop supplies for rapeseed meal.

India and France elevated their relationship to a ‘special global strategic partnership,’ pledging enhanced cooperation in defense, AI, and clean energy. The leaders virtually inaugurated a Tata Airbus facility for helicopter manufacturing and export, underscoring a commitment to ‘Make in India’ and bilateral innovation.

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.

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 […]