‘Not in it to enrich ourselves, we are in it to enrich both peoples’: NZ FM on FTA negotiations

New Zealand’s Foreign Minister Winston Peters highlighted the “breakthrough” in India-New Zealand economic relations with the launch of free trade agreement negotiations. He acknowledged India’s dairy industry concerns, emphasizing New Zealand’s potential to enhance India’s dairy productivity through improved practices.

India has prolonged the duty-free import period for yellow peas until March 31, 2026, effective immediately. This decision, outlined in a recent government order, grants traders an extended window for duty-free imports. As the world’s largest importer of yellow peas, primarily from Canada and Russia, this extension provides significant relief to traders.

The government is pushing air conditioner manufacturers to significantly increase exports. This follows the Production Linked Incentive scheme. The goal is to make India a major AC exporter, competing with China and Thailand. India aims to export 15-16 million AC units in four years. Currently, exports are around 2 million units. The government is seeking […]

Indian retailers are strategically expanding after closing underperforming stores. Reliance Retail, Arvind Fashions, and Aditya Birla Fashion plan new, larger outlets. They focus on profitability and avoid past mistakes. Arvind will increase retail space. Aditya Birla Fashion plans many new brand and Pantaloon stores. Retailers are now prioritizing sustainable growth and careful property selection. Spencer’s […]

The tariff war presents India with opportunities in specific sectors. India and US are in talks for a trade agreement, aiming for an interim deal. The US is India’s largest trading partner. India had a trade surplus with the US. India aims to become a USD 5 trillion economy by 2027-28.

India is actively negotiating trade agreements with the United States and the European Union. Commerce Minister Piyush Goyal says talks are progressing rapidly. American trade officials will visit India soon for further discussions. India is also attracting significant foreign direct investment. The nation is considered a compelling investment destination due to strong returns.

The Court of International Trade found the US President oversteppingd his authority by imposing across-the-board duties on imports from trading partners. The order has come amid India and the US expected to agree on an interim trade agreement by the end of June, with New Delhi pushing for full exemption from the 26% reciprocal tariff.

In the February budget, the government had said the current model bilateral investment treaty (BIT) will be revamped and made more investor friendly to encourage sustained foreign investment besides ensuring the spirit of “first develop India.”

Foreign Secretary Vikram Misri and US Deputy Secretary of State Christopher Landau met in Washington, reaffirming their commitment to regional stability and the comprehensive India-US strategic partnership. Discussions covered a wide range of bilateral issues, including tech-trade-talent collaboration, fair market access, and enhanced cooperation on migration and counter-narcotics.

US and Indian officials are engaged in trade talks, aiming for an interim agreement by June 25, potentially suspending the 26% reciprocal tariff imposed by the US. Both nations are working towards a broader bilateral trade agreement by the fall, with the goal of significantly increasing bilateral trade to $500 billion by 2030.