India, EU can wrap up FTA talks before year-end: Piyush Goyal

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 […]

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 […]

India aims to finalize a Free Trade Agreement with the European Union by year-end. Commerce Minister Piyush Goyal sees minimal disagreements. Both economies complement each other, boosting growth. Sensitive issues need resolution. India emphasizes gender equality and sustainability. The FTA focuses on market access and trade. It promises broader economic opportunities and benefits for consumers.

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.

Donald Trump’s decision to double tariffs on steel and aluminium imports is set to affect Indian exporters. India’s iron, steel, and aluminium exports to the US, valued at USD 4.56 billion, face higher tariffs. The Indian government may retaliate with tariffs on US goods. Federation of Indian Export Organisations urges government intervention and market diversification.

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 […]

President Trump announced the U.S. is nearing a trade deal with India, while Pakistan is expected in Washington for talks. He cautioned that conflict between India and Pakistan could jeopardize these negotiations. These developments occur amid heightened tensions and potential tariffs on Pakistani exports, as India and the U.S. aim for an interim trade deal […]

In a significant move, India has reduced the basic customs duty on crude palm oil, soybean oil, and sunflower oil. The duty is now 10%, a decrease from the previous 20%. This change, effective May 31, aims to boost domestic supply. The government hopes to control food inflation by lowering edible oil prices.

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 […]