India’s trade gap likely narrowed to $20.7 billion as cheaper oil, sluggish gold imports ease June deficit

India’s merchandise trade deficit saw a slight decrease to USD 20.7 billion in June 2025, according to Union Bank of India, driven by lower crude prices and gold imports. Strategic sourcing, particularly increased oil purchases from Russia and the US, helped mitigate global commodity fluctuations.

Tata Steel has completed its first paperless import transaction using an Electronic Bill of Lading for a coal shipment from Australia to India. This digitized process, facilitated by ICE Digital Trade and involving multiple banks, aims to enhance supply chain efficiency and sustainability. The initiative aligns with Tata Steel’s goal of achieving Net Zero emissions […]

China and the Association of Southeast Asian Nations will submit an upgraded free trade pact for approval. The agreement happened after negotiations that started in November 2022. Both parties will collaborate in over 40 fields based on a five-year action plan. They also aim to finalize a code of conduct in the South China Sea […]

India and the US are navigating a complex trade relationship. Talks continue in Washington, focusing on agriculture and market access. Simultaneously, both nations are challenging each other at the WTO. The US questions India’s dairy import rules. India is retaliating against US tariffs on steel and auto parts. This two-track strategy reflects India’s assertive approach […]

Switzerland has ratified a significant trade agreement with India and the EFTA. This Trade and Economic Partnership Agreement is expected to be effective in October. EFTA nations plan to invest USD 100 billion in India over 15 years. The agreement aims to reduce trade barriers and boost economic ties. It will streamline customs and enhance […]

The US is reportedly working towards an interim trade deal with India, potentially setting tariffs below 20%, a favorable position compared to other Asian nations. This arrangement allows for continued negotiations, aiming to resolve outstanding issues before a broader agreement expected this fall.

India has declined Australia’s request for lower tariffs on dairy and alcohol. This move is slowing down the trade agreement talks between the two nations. Indian officials are concerned about the impact on local farmers and the wine industry. Australia seeks better access for its dairy products. Despite this, both countries are still hopeful for […]

Solvent Extractors Association asked the government to permit coconut oil and copra imports. This request aims to control rising domestic prices. Coconut oil prices have tripled in the last year. Pest attacks have reduced India’s coconut production by 40 percent. High prices are causing consumers to switch to cheaper alternatives. SEA believes imports will stabilize […]

To address the underutilisation of the Asean-India trade agreement and a growing trade deficit, the commerce department is surveying exporters. The questionnaire aims to identify challenges like tracing raw material origins, interpreting procedures, and compliance costs. This review seeks to eliminate barriers, prevent misuse, and improve export performance under the AITIGA.

The United States has expressed concerns at the World Trade Organization regarding India’s dairy certificate requirements. America views them as unnecessary trade barriers. These requirements mandate confirmation that imported milk products are free from harmful substances. Washington insists such measures should be science-based. This issue arises amidst ongoing trade negotiations between the two nations.