The commerce ministry plans to revise the Special Economic Zone (SEZ) regulations. This is to revitalize these zones and increase exports. The proposed changes include allowing sales in the domestic market with adjusted duties. It also introduces reverse job work provisions. Rupee payments may be permitted for specific services.
Govt plans SEZ law revamp to boost exports, ease domestic tariff area sales
India’s FTAs with UK, US, EU to open new opportunities for Textiles sector: Margherita
12 months ago
India’s textile sector anticipates significant growth through upcoming FTAs with the US, UK, and EU, according to Minister Pabitra Margherita. Aiming for USD 100 billion in exports by 2030, the sector currently contributes substantially to India’s GDP and industrial output.
India is actively fostering cruise tourism ties with ASEAN nations, as stated by Union Minister Sarbananda Sonowal at the inaugural ASEAN-India Cruise Dialogue. India aims to establish a seamless cruise network connecting with ASEAN countries through advanced ports and efficient systems. The Sagar Mala initiative targets one million cruise passengers by 2029, reflecting a significant […]
Trump admin calls India ‘strategic ally’ even as trade negotiators race against tariff deadline
12 months ago
US President Donald Trump has agreed to attend the next QUAD Summit in New Delhi after accepting an invite from Prime Minister Narendra Modi. White House Press Secretary Karoline Leavitt called India a “very strategic ally” and underlined Trump’s close ties with Modi. As External Affairs Minister S. Jaishankar visits the US for QUAD talks, […]
India and the US are in crucial trade talks. New Delhi is firm on its stance regarding market access in agriculture. This includes GM crops and dairy. India hopes for a deal before July 9. After July 9, reciprocal tariffs from the US will take effect. India will not compromise the interests of its farmers.
The White House indicated a potential trade deal with India is imminent as President Trump assesses tariff strategies. Negotiations face a critical July 9 deadline to avert a 26% tariff on Indian goods. India is holding firm on agricultural concessions, while both nations aim for a broader trade agreement by 2025, targeting $500 billion in […]
Import duty cut on US farm goods under trade pact could undermine India’s food security: GTRI
12 months ago
GTRI cautions India against lowering import duties on US farm goods in the proposed trade agreement, emphasizing potential threats to food security. Cheap, subsidized US grains could flood Indian markets, harming local farmers and destabilizing rural livelihoods. Maintaining tariff flexibility is crucial to protect over 700 million people dependent on agriculture and manage global price […]
India has prolonged quantitative restrictions on low ash metallurgical coke imports from several countries, including Australia and China, until December 31, 2025, allowing 14,27,166 tons for July-December. Simultaneously, the Directorate General of Foreign Trade extended the minimum import price of Rs 20,108 per ton on soda ash until the end of the year, initially imposed […]
India’s ban on ships with Pakistani cargo raises freight costs, delays imports: Report
12 months ago
India’s ban on ships carrying Pakistani goods, effective May 2, 2025, has led to increased freight charges and longer transit times for Pakistani importers. Mother vessels are avoiding Pakistan, forcing reliance on feeder vessels and raising costs. While exporters report higher shipping and insurance costs, the overall impact on exports is currently minimal, though broader […]
India’s trade deficit may surge to $300 bn in FY26 despite lower oil prices: ICICI Bank Report
12 months ago
ICICI Bank projects India’s trade deficit to widen to USD 300 billion in FY26, driven by weak non-oil export performance despite moderate oil prices. Imports are expected to remain strong due to robust domestic growth. Steady service exports and remittances should keep the current account deficit at USD 30 billion, or 0.7% of GDP.