Export boost in Budget: Export Promotion Mission, BharatTradeNet, global supply chain integration proposed

India’s Budget proposes an Export Promotion Mission and the creation of BharatTradeNet, a digital infrastructure to simplify trade compliance processes and accelerate transactions. The mission aims to assist smaller firms with export credit and support, tackling non-tariff measures, and enhancing domestic manufacturing capacities to integrate with global supply chains.

India’s forex reserves increased by $5.5 billion to $629.55 billion as of January 24, 2025, after a decline of $1.8 billion the previous week. The Reserve Bank of India continues to manage liquidity and prevent sharp rupee depreciation by intervening in the market as necessary.

India needs a new strategic trade roadmap amid shifting global trade dynamics and rising protectionism. The Economic Survey 2024-25 emphasizes reducing trade costs and boosting export competitiveness to enhance participation in global supply chains and increase market share despite ongoing trade tensions.

The government plans to amend the 72-year-old Coir Industry Act to boost exports, introducing value-added products like jute and rubber blended coir. Reducing the coir board size by 50% aims for faster decision-making. The move also envisions export facilitation centres for producers.

Prime Minister Modi’s upcoming visit to Washington DC will prioritize talks on a limited trade deal with the US, focusing on tariff concessions and investment agreements. This initiative, resembling the US-Japan trade agreement, aims to enhance market access for both nations and boost confidence, resuming promising negotiations from Trump’s first term.

India’s import of pulses in 2024 doubled from the previous year, reaching an all-time high of 6.63 million tonnes. The surge, particularly in yellow peas, aimed to curb retail inflation. The industry has urged for duties in 2025 to prevent market flooding and manage prices effectively.

Tea Association of India revealed the misuse of import laws, with imported low-quality tea being re-exported as Indian tea. This practice harms the reputation and financial stability of Indian tea, it said. The TAI has called for stricter enforcement, penalties, and reconsideration of duty-free imports to protect the industry and ensure fair trade practices.

The UK and India will resume free trade and bilateral investment treaty talks. British Prime Minister Keir Starmer and Indian Prime Minister Narendra Modi decided to restart FTA negotiations during the G-20 Summit. Britain’s Business and Trade Secretary Jonathan Reynolds will visit India next month to advance discussions, focusing on issues like electric vehicles, alcoholic […]

India’s coffee exports are anticipated to drop by over 10% in 2025 due to decreased production and lower carry-forward stocks, even as prices reach record highs. Unfavorable weather conditions have impacted yields, leading to delayed harvesting and reduced output. This decline is expected to further tighten global coffee supplies.

India aims to expand investments in Argentina’s mining, gas, and oil sectors, particularly focusing on lithium, for its energy transition. Indian firms are exploring lithium in Catamarca and showing interest in other provinces, while looking at potential benefits from Argentina’s Large Investment Incentive Regime.