Govt should flag EUDR as non-tariff barrier at WTO: Parliamentary panel to govt

A parliamentary panel suggests India raise concerns about the EU’s anti-deforestation rules at the WTO. They want a review of free trade agreements’ effects on the spice trade. The committee urges promoting ‘Make in India’ for leather goods to protect artisans. They highlight the need to safeguard Indian spice farmers’ interests in trade deals.

Crisil reports that the 25% tariffs on Indian goods due to Russian oil purchases could render exports to the US “unviable,” impacting sectors like diamond polishing, shrimp, and home textiles. Other sectors with US trade exposure, including garments and chemicals, also face potential repercussions.

Global trade faces a significant transformation marked by rising protectionism and geopolitical tensions. Businesses must navigate a fragmented landscape with complex legal challenges, including sanctions and diverging regulations. Strategic foresight, diversification, and local expertise are crucial for resilience and seizing opportunities in this evolving trade order, where legal strategy is paramount.

India’s free trade agreement with the UK is poised to significantly boost textile exports, potentially increasing them by 30-45% by 2030. The agreement eliminates duties, providing a competitive edge over rivals like Bangladesh and China, especially for garments, home textiles, carpets, and handicrafts.

China is easing urea shipment restrictions to India, signaling improved relations amid trade tensions with the US. India, a major urea importer, could receive up to 300,000 tons, potentially easing global supply constraints. This follows relaxed visa rules and possible meetings between leaders, indicating a thaw in relations after border clashes in 2020.

India broadens its export focus to fifty nations, including those in West Asia and Africa. This move aims to lessen dependence on one market. It also seeks to cushion against trade disruptions amid high US tariffs. The government is devising strategies to protect exports from these tariffs. They are also exploring alternative markets and domestic […]

Indian officials have briefed a parliamentary panel on the challenging phase in Indo-US trade relations, emphasizing India’s commitment to constructive dialogue while acknowledging certain non-negotiable red lines. Despite trade tensions, positive aspects of the relationship were highlighted, including US support on extradition and counter-terrorism efforts.

India asserts its stance on trade talks with the US. Government prioritizes national interest amid tariff concerns. Focus shifts to export diversification and leveraging existing trade agreements. India plans to address Pakistan’s nuclear threat made from US soil with the US. The US has not conveyed any change in schedule for the next round of […]

Amid strained relations, India has expanded its ban on jute product imports from Bangladesh via land routes, now including woven fabrics, twine, and sacks. This restriction, following earlier curbs in June, allows imports only through Nhava Sheva Seaport. These measures, alongside previous restrictions on garments and transhipment, reflect growing tensions and concerns over trade imbalances […]

Maharashtra Fisheries Minister Nitesh Rane views increased US tariffs on Indian shrimp as an opportunity to boost the domestic seafood market. He urged stakeholders not to worry excessively, highlighting Europe and Vietnam as alternative export destinations. Rane emphasized prioritizing the Indian market to support local farmers and fishermen, aligning with the Aatmanirbhar Bharat policy.