India and the United States aim to finalize the first phase of a Bilateral Trade Agreement by fall, focusing on increased market access and reducing trade barriers. This agreement, part of ‘Mission 500’, seeks to double bilateral trade to $500 billion annually by 2030 while enhancing supply chain integration and investment opportunities.
India-US to seal first trade deal tranche by fall, aiming for $500 billion target
India’s exports of machinery and components to Germany surged to USD 4.13 billion in 2024, an impressive four-fold increase from the previous year, and expected to continue growing in double digits. Indo-German trade, particularly in the machinery sector, remains robust, contributing significantly to bilateral trade growth.
Prime Minister Narendra Modi announced that the U.S. and India aim to double their bilateral trade to $500 billion by 2030, and work on a trade agreement soon. During a press conference with President Donald Trump, Modi highlighted cooperation in artificial intelligence and semiconductors, while Trump emphasized reducing trade barriers and implementing reciprocal tariffs to […]
U.S. President Donald Trump on Thursday warned of 100% tariffs on BRICS nations if they “play games with the dollar,” referring to discussions around non-dollar trade mechanisms. While Trump targeted Brazil, Russia, India, and China, sources clarified that BRICS has no proposal for a single currency, focusing instead on bilateral trade in national currencies.
The Indian electronics industry seeks enhanced trade ties with the US aiming for $750 billion in bilateral trade by 2032, including $100 billion in electronics. They highlight opportunities created by policies like the Production Linked Incentive (PLI) scheme and call for favorable trade concessions and technology partnerships from the US.
American almonds constitute 93% of India’s almond imports, valued over $1 billion last year, and American pistachios 84%. Demand for dry fruits has grown due to health focus and higher incomes. The US almond market in India has grown due to strong marketing. Australia and Chile also contribute, while US seeks more trade concessions.
India has exported up to 500,000 metric tons of sugar this season, focusing on countries like Sri Lanka, Bangladesh, and Nepal. The pace is slowing due to mill closures and poor harvest conditions. Experts doubt the one million-ton quota will be met by September 2025.
Various global, domestic factors influenced value of rupee against US dollar: FM Sitharaman
1 year ago
India’s Finance Minister Nirmala Sitharaman attributed the recent weakening of the rupee against the US dollar to a combination of global and domestic factors, including the dollar index, capital flows, and interest rate trends. The rupee depreciated 3.3% between October 2024 and January 2025, a smaller decline compared to other Asian currencies like the South […]
Commerce and Industry Minister Piyush Goyal underlined the sub-optimal bilateral trade between India and Israel, urging for a tenfold increase. With potential in sectors like technology and renewable energy, Goyal said he saw significant growth in trade and investments over the next 12-13 years.
India’s thermal coal imports are expected to decline for the second consecutive year in 2025 due to reduced coal dependency for power generation, slowing economic activity, and high inventories. Imports fell around 2% to 173 million metric tons in 2024, driven by increased domestic production and competitive alternatives like petroleum coke preferred by the cement […]