India is in “active dialogue” with the US on trade deal: Piyush Goyal

India is actively engaged in trade negotiations with the US, aiming for a mutually beneficial agreement, according to Commerce Minister Piyush Goyal. Discussions are also underway with New Zealand and the European Union, with a trade pact with Oman expected soon.

Sweden hosted ‘Time for Sweden’ in New Delhi. The event highlighted growing India-Sweden ties. Collaboration focuses on trade, investment, and innovation. Swedish firms actively contribute to India’s green transition. Over 280 Swedish companies operate in India. Indian investments in Sweden are also increasing. Both nations collaborate on green hydrogen and technology.

Gautam Singhania, chairman of Raymond Group, has termed US President Trump’s trade policies as a “dangerous game,” predicting hyper-inflation in the US due to rising import costs. He believes the tariffs are a temporary setback for India, advising businesses to seek new markets. Singhania lauded the government’s GST rationalization, expecting it to boost consumption and […]

Following stalled trade talks, PM Modi affirmed India and the US as “natural partners,” signaling a potential thaw in relations. This response followed President Trump’s optimistic remarks about ongoing negotiations to reduce trade barriers, expressing confidence in reaching a successful conclusion and describing Modi as a “very good friend.”

European Union has approved 102 more marine product units from India. This will help India increase seafood exports to the EU by 20%. The total number of listed Indian marine units now stands at 604. This development occurs as India diversifies its shrimp exports. Shrimp exports have been affected by high tariffs imposed by the […]

Donald Trump has asked EU officials to impose tariffs on China and India. The aim is to put pressure on Vladimir Putin. China and India buy Russian oil. This helps Russia’s economy during the Ukraine invasion. Trump suggested the US might increase trade with India later. He mentioned working to resolve trade issues.

President Trump indicated ongoing trade negotiations with India, expressing optimism for a successful deal despite past tensions. This shift follows earlier warnings about India’s relationship with China and disagreements over tariffs and Russian oil purchases. The U.S. seeks to address a significant trade deficit, with two-way goods trade totaling $129 billion in 2024.

Trade negotiations between India and the EU are progressing rapidly, with a potential free trade agreement substantially concluded by the time EU trade and agriculture commissioners visit India. Approximately 60-65% of the chapters are already finalized. However, Goyal criticized the domestic steel industry for prioritizing cheaper imports over supporting local producers, undermining India’s self-reliance efforts.

White House trade advisor Peter Navarro stated that India needs to reconsider its trade negotiations with the United States. He described India as having high tariffs. Navarro also mentioned India’s increased oil purchases from Russia. He suggested that India’s current path aligns it with Russia and China. Navarro believes this alignment will not benefit India.

The government has updated rules for exporting specific animal by-products. This change aligns with European Union standards. Products affected include retail dog and cat food. Also impacted are compounded animal feed and concentrates. The Directorate General of Foreign Trade issued the notification. Exports are now allowed only under particular conditions. This revision aims to meet […]