Switzerland has ratified a significant trade agreement with India and the EFTA. This Trade and Economic Partnership Agreement is expected to be effective in October. EFTA nations plan to invest USD 100 billion in India over 15 years. The agreement aims to reduce trade barriers and boost economic ties. It will streamline customs and enhance […]
Switzerland greenlights India-EFTA mega trade pact; sets stage for October rollout
India and the US are navigating a complex trade relationship. Talks continue in Washington, focusing on agriculture and market access. Simultaneously, both nations are challenging each other at the WTO. The US questions India’s dairy import rules. India is retaliating against US tariffs on steel and auto parts. This two-track strategy reflects India’s assertive approach […]
The US is reportedly working towards an interim trade deal with India, potentially setting tariffs below 20%, a favorable position compared to other Asian nations. This arrangement allows for continued negotiations, aiming to resolve outstanding issues before a broader agreement expected this fall.
India, Australia trade talks hit dairy, wine tariff hurdles as year-end deadline looms, say sources
12 months ago
India has declined Australia’s request for lower tariffs on dairy and alcohol. This move is slowing down the trade agreement talks between the two nations. Indian officials are concerned about the impact on local farmers and the wine industry. Australia seeks better access for its dairy products. Despite this, both countries are still hopeful for […]
The shipping ministry is pushing for tax parity between domestic and foreign-flagged ships to level the playing field. Indian shippers face about 20% higher costs due to domestic levies, impacting their competitiveness in global tenders. Proposed tax adjustments aim to boost the use of Indian-flagged vessels and address the challenges hindering the growth of India’s […]
Negotiations on track to finalise US trade deal, Indian delegation may visit Washington
12 months ago
India and the US are actively negotiating a trade deal. Indian negotiators will soon visit the US to advance talks. Both countries aim to finalize the first phase by Fall. An interim trade deal is also being considered. India has already implemented multiple FTAs and seeks to integrate further with major economies.
Indian enterprises in Singapore set to ride on biz adaptation grant to counter US tariff impact
12 months ago
The Singapore Indian Chamber of Commerce and Industry (SICCI) has lauded the government’s Business Adaptation Grant, designed to help local businesses, especially SMEs, navigate the complex cross-border tax landscape impacted by US trade tariffs. Capped at SGD 1,00,000 per company, the grant supports businesses in areas like supply chain review and exploring new markets.
India revises proposed retaliatory duties against US over steel, aluminium tariffs in WTO
12 months ago
India has adjusted its plan for retaliatory tariffs on the US due to increased duties on steel and aluminium. The WTO received India’s request to modify tariffs on American goods. This action follows the US raising tariffs to 50 percent. India’s move aims to collect equivalent duties from US products.
Ship owner asked to pay ₹125 crore for Kerala mishap
12 months ago
The ‘MSC ELSA 3’ container ship sank off Kerala coast on May 25. Its owner is responsible for pollution clean-up and compensation. The state government sought ₹9,531 crore. However, the owner’s liability is capped at ₹125 crore. This is due to an international maritime treaty. The treaty limits liability based on ship size and incident […]
Kolkata Port reports 21% growth in cargo during Q1’FY26
12 months ago
Syama Prasad Mookerjee Port, Kolkata (SMPK) showcased robust growth in the first quarter of FY’26, handling 17.18 million metric tons of cargo, a 21.21% increase year-over-year. The port experienced a significant surge in container traffic, with a 29.02% rise, alongside substantial increases in key commodities like vegetable oil, coking coal, and POL, solidifying its crucial […]