India must be cautious in trade pact talks with US amid legislative risks in America: GTRI

India needs to be careful while negotiating a trade agreement with the US due to the lack of Fast Track Authority, which may lead to Congressional changes and demands for policy shifts, potentially affecting its sovereignty. These factors create significant uncertainty and highlight the importance of vigilance during negotiations.

India is considering cutting tariffs on over half of U.S. imports worth $23 billion as part of a trade deal to avoid reciprocal tariffs from the U.S. due to take effect on April 2. The reduction, which could apply to goods subject to 5%-30% tariffs, aims to alleviate the impact of U.S. tariffs on India’s […]

Assistant US Trade Representative for South and Central Asia Brendan Lynch is in New Delhi starting Tuesday for three days of negotiations on the proposed trade deal. His visit comes ahead of the April 2 deadline for likely imposition of reciprocal tariffs on all countries, including India, by the Trump administration.

India will request an exemption from US reciprocal tariffs during trade negotiations with US officials this week. Discussions will focus on forming a bilateral trade agreement. India has already reduced some import taxes and is considering further reductions to meet US concerns.

India and the US are set to finalise the contours and terms of reference for a bilateral trade agreement during a three-day discussion starting Tuesday. The focus is on increasing trade predictability and integration, with the first phase of the agreement expected to be completed by fall 2025.

Brendan Lynch, Assistant US Trade Representative, will visit India for crucial trade talks from March 25-29. Discussions with Indian officials aim to enhance bilateral trade and include the impending reciprocal tariffs by the US. India plans to expand trade with the US to $500 billion by 2030.

India has imported 8.47 lakh tonnes of DAP fertiliser from China till February this fiscal, representing 19.17% of total imports. China accounted for 40% in the previous fiscal. Despite various challenges, domestic DAP availability has exceeded the requirement for the ongoing rabi season.

International Tractors faces challenges exporting to Mexico and Canada due to US tariffs and plans to shift exports from India instead of Atlanta. ITL, the largest tractor exporter in India, expects a decline in overseas shipments in fiscal 2024-25 due to global trade wars. Major markets like the EU, North America face uncertainties affecting overall […]

India has imposed anti-dumping duties on four Chinese goods—Soft Ferrite Cores, vacuum insulated flasks, aluminium foil, and Trichloro Isocyanuric Acid—to protect domestic industries from cheap imports. These duties range from USD 276 to USD 1,732 per tonne and are set for five years, with aluminium foil subject to a provisional six-month duty.

The government has decided to lift the 20 per cent export duty on onions from April 1 to protect farmers’ interests. This move comes as onion prices have dropped due to the expected arrival of the rabi crop. The export duty was initially imposed in September 2024.