US, European Union deals open door to nearly $55-60 trillion market, says Piyush Goyal

Commerce and Industry Minister Piyush Goyal said India has safeguarded farmers’ interests in its US trade deal, keeping over 95% of farm produce protected while opening up access to a $55-60 trillion market with the US and EU. Speaking at the Global Business Summit, he highlighted India’s recent FTAs with New Zealand, the UK, Oman, […]

Priorities for IndiaAmerican economist Ann E Harrison advised India to cautiously accept the US tariff cut under President Donald Trump but warned against offering excessive market access in return, calling it a “dangerous strategy.” She stressed that the US is unreliable and recommended India demand reciprocity while negotiating carefully, citing Mexico’s losses under NAFTA as […]

The European Union and India have made headlines by finalizing a groundbreaking free trade agreement. This strategic partnership is poised to revolutionize trade ties, facilitating extensive cooperation and connectivity. With far-reaching implications for defense and security, this agreement not only affirms the strength of EU-India relations but also sets the stage for shared stability and […]

India and Brazil are finalising agreements to be signed during President Luiz Inacio Lula da Silva’s visit next week, aimed at boosting pharmaceutical exports, cooperation in critical minerals and support for the civil aviation sector. The visit is also expected to deepen trade and investment ties between the two countries.

India on Thursday said the February 7 joint statement with the US remains the basis for the proposed interim trade agreement and that recent changes in the White House fact sheet reflect shared understandings between the two sides.

NITI Aayog suggests strategic tech-services trade missions to Japan, the Middle East, and Germany. A unified India Tech-Services brand will promote Indian AI players. A market access cell will assist specialist firms. These steps aim to secure India’s global technology leadership and achieve $750–850 billion in annual revenue by 2035, focusing on emerging AI technologies.

New Delhi and Moscow’s relationship is steadily growing. The Ministry of External Affairs confirmed ongoing cooperation across trade, defence, and cultural exchanges. These vital aspects of the bilateral ties continue to expand. MEA spokesperson Randhir Jaiswal highlighted the consistent engagement and growth in multiple areas of the relationship between India and Russia.

India’s textile exporters are set to gain zero-tariff benefits on garments made with US-origin cotton. This move mirrors concessions given to Bangladesh, ensuring competitive parity. Union Commerce Minister Piyush Goyal clarified this, addressing concerns about unequal trade terms. The agreement aims to strengthen India-US trade ties. Domestic farm interests are also protected.

India’s trade surplus with the United States is projected to exceed 90 billion US dollars annually. This surge is driven by a significant rise in Indian exports to the US, potentially crossing 100 billion US dollars. Simultaneously, imports from the US are also expected to increase.

US President Donald Trump hailed a new India-US trade deal as historic, anticipating a significant boost in American energy exports, particularly coal. The interim agreement reduces US tariffs on Indian goods and India lowers duties on American industrial, energy, and food products, paving the way for a broader pact.