US commerce secretary Howard Lutnick expects India trade deal soon

US Commerce Secretary Howard Lutnick expressed optimism about an impending trade agreement between the United States and India, aiming to avert potential tariffs threatened by President Trump. Lutnick highlighted concerns regarding India’s tariff practices and its military procurement from Russia, but noted that the Indian government is actively addressing these issues, fostering hope for a […]

Donald Trump’s proposed 50% tariff on steel and aluminium imports threatens India’s engineering goods’ shipments, potentially impacting USD 5 billion worth of exports. The existing 25% tariff has already intensified global competition. EEPC India urges a waiver similar to the UK’s, fearing complications in ongoing Bilateral Trade Agreement negotiations.

The Asian Development Bank (ADB) is set to invest $10 billion over five years to upgrade India’s urban infrastructure, including metro extensions and rapid transit systems. ADB expects India’s GDP to grow at 6.7% in FY26 and 6.8% in FY27, surpassing other developing Asian economies. The bank supports India’s reforms, particularly in manufacturing and skills […]

Commerce Minister Piyush Goyal expressed optimism that India and the EU could finalize a comprehensive free trade agreement by year’s end, citing significant progress and complementary economies. While sensitive issues remain, both sides are committed to resolving them amicably. Negotiations resumed in 2022 after an eight-year hiatus, with bilateral trade reaching $137.41 billion in fiscal […]

India will voice its concerns regarding agriculture, fisheries agreement, and the WTO’s appellate body dysfunction at a Paris meeting of trade ministers on June 3. Commerce Minister Piyush Goyal will attend the meeting, raising issues like investment facilitation proposals led by China.

A Global Trade Research Initiative report warns that U.S. President Trump’s decision to double tariffs on steel and aluminium imports, effective June 4, 2025, will significantly impact India’s metal exports, valued at USD 4.56 billion. The increased tariffs, raising rates to 50%, are expected to make Indian products less competitive in the U.S. market, potentially […]

India and Chile have successfully completed the initial round of negotiations for a comprehensive bilateral free trade agreement, according to the Department of Commerce. Building upon their existing preferential trade agreement established in 2006, the two nations are now working towards a broader economic partnership. The proposed agreement aims to encompass sectors like digital services, […]

To ease domestic prices, the Indian government has reduced the basic import tax on crude edible oils, effective from May 30. This decision comes as India relies heavily on imports to meet over 70% of its vegetable oil demand, sourcing palm oil from Southeast Asia and soyoil and sunflower oil from South America, Russia, and […]

India has prolonged the duty-free import period for yellow peas until March 31, 2026, effective immediately. This decision, outlined in a recent government order, grants traders an extended window for duty-free imports. As the world’s largest importer of yellow peas, primarily from Canada and Russia, this extension provides significant relief to traders.

The government is pushing air conditioner manufacturers to significantly increase exports. This follows the Production Linked Incentive scheme. The goal is to make India a major AC exporter, competing with China and Thailand. India aims to export 15-16 million AC units in four years. Currently, exports are around 2 million units. The government is seeking […]