The European Union has suspended export benefits for a significant portion of Indian goods, including textiles and metals, effective January 1. This move removes an average 20% tariff advantage, impacting India’s price competitiveness against countries like Bangladesh and Vietnam. The suspension aligns with the EU’s Carbon Border Adjustment Mechanism and occurs as FTA talks are […]
EU suspends export benefits for certain Indian goods ahead of key FTA conclusion
Trump tariffs reshaping global trade, say experts
2 months ago
Global trade is changing rapidly. US tariff policies have shifted focus from multilateral agreements to bilateral trade deals. This creates uncertainty for businesses. India is strategically diversifying its trade partnerships. This approach helps navigate a more disrupted world. New strategies are needed to adapt to these evolving trade dynamics.
Exporters are urging the government to implement tax incentives and rationalize import duties in the upcoming Budget. Key demands include reduced income tax for MSMEs, reinstatement of customs duty exemptions on certain leathers, and correction of inverted duty structures in sectors like synthetic yarns and electronics to boost domestic manufacturing and export competitiveness.
Trade ministers and WTO chief Ngozi Okonjo-Iweala met in Davos to strategize for the upcoming 14th Ministerial Conference in Cameroon. Discussions centered on global trade policy challenges, potential compromises on key negotiating topics like Investment Facilitation, and WTO reform priorities. Switzerland emphasized its commitment to a rules-based multilateral trading system amidst global tensions.
Following Donald Trump’s optimistic statement about a “good” trade deal with India, Union Minister Ashwini Vaishnaw expressed encouragement, highlighting India’s significant role in global trade. Trump, speaking at the World Economic Forum, praised Prime Minister Narendra Modi as a “fantastic man” and a friend, underscoring his respect for the Indian leader.
‘Going to have a good deal’: Trump on India-US trade deal, says has “great respect” for PM Modi
2 months ago
US President Donald Trump expressed confidence in an upcoming India-US Bilateral Trade Agreement, calling Prime Minister Narendra Modi a close friend and respected leader. Both nations are reportedly nearing a deal to significantly boost bilateral trade, aiming to reach $500 billion by 2030.
A wave of Swiss business enthusiasm is sweeping towards India, following the recent Trade and Economic Partnership Agreement with the European Free Trade Association. The number of investment inquiries and advisory support requests has skyrocketed, more than doubling in frequency.
India’s fertilizer imports are set for a record surge this fiscal year. Officials predict a 76% jump to $18 billion. This increase is fueled by farmers expanding crop areas after heavy rains. Consumption of key fertilizers like urea and DAP is rising significantly. This trend reflects ample monsoon rainfall encouraging winter crop planting across the […]
India and the European Union are on the cusp of a groundbreaking trade agreement, with Spanish Foreign Minister Jose Manuel Albares forecasting its finalization within days. With European Commission President Ursula von der Leyen’s upcoming visit to India next week, the stage is set for crucial negotiations.
India plans to significantly boost textile exports to $100 billion by 2030. The strategy involves increasing shipments to Free Trade Agreement partners and focusing on premium products like handlooms and silk. New districts will be developed to join the export ecosystem. This initiative aims to expand India’s global market share in textiles.