Rising US costs may prompt China to divert goods to India; Govt sets up monitoring cell

The Indian government has established an inter-ministerial group to monitor potential import surges due to global trade tensions and high tariffs on countries like China and Vietnam. This move aims to prevent the diversion of goods to India and address concerns about increased inflow of US agricultural products.

India has identified ten sectors, including apparel, chemicals, and pharmaceuticals, where high US tariffs on China provide a competitive edge. The goal is to capitalize on this advantage to offset losses in other sectors.

The United States has ended duty-free treatment for low-value imports from China and Hong Kong, creating a significant advantage for Indian e-commerce exporters. This policy shift allows Indian businesses, particularly MSMEs, to compete more effectively in the U.S. market.

India and the United States are finalizing terms for a bilateral trade agreement, aiming for $500 billion in trade by 2030. Negotiations will address India’s restrictions on farm goods, including tariffs on staples like rice and wheat. The U.S. seeks access for corn, soybeans, and animal feed, while India has concerns about genetically modified crops […]

India’s cut and polished diamond exports hit a near two-decade low in fiscal year 2024/25 due to weak demand from the U.S. and China. This decline significantly impacted overall gem and jewelry exports, dropping them to a four-year low. Despite a March surge in exports ahead of potential U.S.

India is unlikely to offer a ‘zero-for-zero’ tariff deal to the US in their Bilateral Trade Agreement, deeming it suitable only between developed nations. The BTA will encompass goods, digital trade, professional movement, and intellectual property rights. Virtual talks are scheduled, aiming for clarity by May-end, with a broader goal to double bilateral trade to […]

A parliamentarian emphasizes the opportune moment for India and the UAE to strengthen their bilateral ties, highlighting visionary leadership and the necessity of collaboration to address global challenges. The Global Justice, Love and Peace Summit in Dubai addressed inequalities and promoted dialogue, with speakers advocating for inclusiveness and tolerance in an increasingly divided world.

India’s shrimp export industry, heavily reliant on the US market, is strategizing to diversify risks. Following a tariff ease by the US, the industry is urging the government to promote domestic shrimp consumption and negotiate a free trade agreement with Europe.

Facing escalating trade tensions with the US under President Trump, the European Union is actively pursuing trade diversification by forging new agreements with countries worldwide. While lobbying for tariff reductions in Washington, the EU is accelerating trade talks with nations in Asia and South America, aiming to offset potential losses from strained transatlantic relations.

India’s burgeoning consumer market, set to become the world’s third-largest by 2026, is attracting Western nations eager for trade deals. A growing affluent class with rising disposable incomes fuels demand for premium goods. This positions India favorably in trade negotiations, leveraging its consumer base to secure access to global markets for its own exports, particularly […]