India open to mutually beneficial arrangements on QCOs with trusted partners: Piyush Goyal

India is open to mutually beneficial arrangements with trusted trading partners regarding quality standards, according to Commerce and Industry Minister Piyush Goyal. India aims to promote the manufacturing of quality goods through Quality Control Orders (QCOs), ensuring equal treatment for both domestic and foreign suppliers.

India’s palm oil imports surged to a six-month peak in May, driven by attractive pricing compared to soyoil and sunflower oil, alongside dwindling inventories. This surge propelled overall vegetable oil imports to 1.19 million tons, the highest since December. Anticipated increased palm oil imports in June, potentially reaching 850,000 tons, are expected due to the […]

Commerce and Industry Minister Piyush Goyal anticipates India’s goods and services exports to surpass USD 900 billion in 2025-26, even amidst global economic uncertainties. Despite challenges like the Russia-Ukraine conflict and the Red Sea crisis, India’s exports reached a record USD 825 billion in 2024-25.

Switzerland’s state secretary for economic affairs, Helene Budliger Artieda, emphasized the need for a better regulatory environment and reduced red tape in India to attract Swiss investments, particularly concerning the $100 billion commitment under the EFTA trade agreement.

External Affairs Minister S Jaishankar has expressed optimism about the India-EU Free Trade Agreement (FTA) negotiations, stating that significant progress has been made and the year-end timeline for completion seems feasible. He highlighted the broad scope of India-EU relations, encompassing defence, security, and talent mobility.

India and the US are progressing towards a trade agreement. The target is before fall 2025. Piyush Goyal highlights India’s strong position with existing FTAs with various nations. Discussions are ongoing with the US, EU, Peru, Chile, and Oman for further trade agreements. Goyal notes the world recognizes India’s growing economic strength.

The United States has declined India’s request for consultations at the World Trade Organization regarding American tariffs on automobiles and auto parts. Washington claims the tariffs are based on national security grounds, not safeguard measures. India had sought discussions after the US imposed a 25% tariff. This dispute arises as India and US are negotiating […]

India and the EU concluded five chapters, including intellectual property and trade facilitation, during the 11th round of FTA talks in New Delhi. Discussions also addressed easing certification processes under India’s Quality Control Orders.

The government is developing a single national registry for labs to streamline laboratory testing processes, aiming to reduce transaction costs and delays in cargo clearance for exports. This integrated online platform will digitize trade-related testing, improve regulatory transparency, and provide exporters with easy access to testing labs. India anticipates reaching $900 billion in goods and […]

India and the US engaged in discussions regarding a proposed bilateral trade agreement. Talks covered market access, digital trade, and customs facilitation. Both sides aim for a swift conclusion to the initial agreement. The US delegation visited India for in-depth negotiations. They are working towards a mutually beneficial agreement by fall 2025. The US is […]