India has offered quotas for most agricultural products in its proposed interim trade agreement with the United States. Officials stated the quantities are largely small and align with import needs. The pact aims for a March signing. India’s chief negotiator will visit Washington to finalize the legal text.
‘India offers limited farm quotas in US trade deal’
In an important diplomatic move, Darpan Jain, a senior IAS officer, will spearhead India’s delegation in Washington next week. This visit will focus on cementing the legal framework of the proposed India-US Interim Trade Agreement as negotiations transition into the drafting phase. The trip is crucial for solidifying a partnership that promises mutual trade benefits […]
Gold, silver import surge pushes India’s January trade deficit to 3-month high of $34.68 billion
3 weeks ago
Surging gold and silver imports widened India’s January trade deficit to $34.68 billion. Imports jumped 19% while exports barely grew, with services offering limited relief amid weak global demand.
India’s textile and apparel exports saw a dip in January. High tariffs from the United States impacted shipments. However, a recent reduction in these tariffs is expected to boost export competitiveness. This change should support a recovery in textile and apparel shipments in the coming months. The sector’s share in India’s total exports also saw […]
Digital trade chapter not in India-US interim trade pact; to be taken up in BTA, says official
3 weeks ago
India and the US have not yet discussed digital trade in their initial trade agreement. This crucial chapter will be negotiated as part of the larger bilateral trade agreement. US companies are eager to explore India’s rapidly expanding digital trade sector. The two nations are committed to establishing clear rules for digital trade.
India’s chief negotiator Darpan Jain will lead a delegation to Washington next week to finalize the legal agreement for the India-US trade deal, aiming for a March signing. The visit follows the finalization of an interim trade agreement framework, with virtual talks ongoing to translate contours into a legal pact.
India, UK making genuine effort to see if FTA can be operationalised in April: Commerce Secy
3 weeks ago
India and the UK are genuinely working towards operationalizing their free trade agreement in April, aiming for 99% of Indian exports to enter the British market duty-free. Meanwhile, India is also seeking to expand its preferential trade agreement with Mercosur and is in negotiations for FTAs with Israel and Canada.
In a significant development, India and the United States have inked a preliminary trade pact aimed at enhancing economic ties. This agreement features a reduction in US tariffs on various Indian imports, easing the burden on exporters. Nonetheless, challenges linger, particularly around India’s ongoing crude oil purchases from Russia and future commitments from the US.
India and the UK are set to implement their free trade agreement in April 2026. This pact will allow 99 percent of Indian exports to enter Britain duty-free. Tariffs on British products like cars and whisky will also be reduced in India. The agreement aims to boost trade significantly between the two nations.
“Japan has helped train approximately 24,000 young Indians over the past seven years through Japanese-style manufacturing programs,” Okumura said at the summit, adding her country has supported India’s metro systems, high-speed rail, and dedicated freight corridors through the Japan International Cooperation Agency (JICA).