No new tariffs after Bilateral Trade Agreement: India wants US assurance

India seeks assurance from the US in the finalized bilateral trade agreement (BTA) to prevent additional tariffs by the Trump administration. India requests stability in tariffs, concessions for labor-intensive sectors, and a mechanism to address potential tariff increases. Both countries aim to finalize the BTA before the deadline, with India emphasizing the need for sustained […]

India’s exports to the US witnessed a significant surge of 16.93% in May, reaching USD 8.83 billion, while imports experienced a dip of 5.76%. Exports to China also saw a substantial increase of 25% in May. Despite US tariffs on steel and aluminum, India anticipates minimal impact unless exemptions favor other nations, potentially affecting Indian […]

India’s goods exports experienced a slight dip of 2.17% in May, totaling $38.73 billion, while the trade deficit narrowed to $21.88 billion. Despite global uncertainties, exports to the US surged by 16.9%, driven by sectors like electronics and pharmaceuticals.

Indian exporters are increasingly leveraging free trade agreements, as evidenced by a rise in preferential certificates of origin issued. The number climbed to 7,20,996 in 2024-25, up from 6,84,724 in the previous fiscal year. This indicates greater utilization of trade pacts, boosting competitiveness through duty concessions, with continued growth observed in the initial months of […]

Amidst the escalating Israel-Iran conflict, a think tank urges the Indian government to urgently assess energy risks and diversify crude oil sources. The tensions threaten India’s trade routes and commercial interests, particularly through the Strait of Hormuz and the Red Sea. Disruptions could inflate oil prices, increase shipping costs, and impact Indian exports.

Basmati rice prices, recently elevated due to increased exports, are anticipated to decrease as exports to Iran are expected to decline amidst geopolitical tensions. While Iran’s conflict with Israel impacts demand, outstanding payments and freight concerns add to the uncertainty. The market’s future hinges on global events and potential shifts in trade dynamics.

The escalating Iran-Israel conflict is poised to disrupt global trade, potentially increasing freight rates and insurance costs, impacting India’s exports to Europe and Russia. Concerns rise over merchant ship movements through the Strait of Hormuz and Red Sea, vital routes for global petroleum and container traffic.

The UK-India Free Trade Agreement (FTA) is poised to give the UK a significant competitive edge in manufacturing, particularly in the automotive and machinery sectors. UK Business and Trade Secretary Jonathan Reynolds highlighted the deal as India’s best offer to date, projecting a substantial increase in bilateral trade.

​​The commodities, sourced from Afghanistan and Iran, have already seen a 15-100% surge in prices as imports through Pakistan have been completely blocked in the aftermath of the April 22 Pahalgam terrorist attack, they said.

India and China have agreed to engage in talks, addressing specific economic and trade concerns, including rare earth metal supplies affected by Chinese export controls. Both nations aim to expedite the resumption of direct flights and finalize an updated Air Services Agreement.