Uttar Pradesh sets ambitious target to triple exports by 2030

The Uttar Pradesh (UP) government has set an ambitious target of tripling its export by 2030, as the ongoing tariff war between the United States and China has provided an opportunity for the state, an official statement by the state said on Saturday.

Nitin Gadkari emphasized that India must boost exports and decrease imports to strengthen its global position. He viewed the US’s reciprocal tariffs as a positive opportunity, opening new markets for Indian industries. Gadkari highlighted the sugar industry’s recent order from the US as an example of how India can benefit from global trade dynamics.

The US tariff policies have significantly impacted India’s gems & jewellery and textiles sectors differently. Jewellery exports from Mumbai’s SEEPZ have plummeted, leading to workforce reductions, while textile units in Tirupur are experiencing a surge in inquiries and orders as US buyers seek alternatives to China.

Following the Pahalgam terror attack, trade between India and Pakistan faces further disruption. Ajay Sahai of FIEO notes Pakistan will likely struggle due to halted trade, especially in sourcing pharmaceuticals and organic chemicals. While India’s overall exports remain largely unaffected, Pakistan may need to rely on costlier informal trade routes via third countries, impacting its […]

India and Taiwan get more time on import duty dispute. The World Trade Organization (WTO) has accepted their request. They wanted to delay the ruling on import duties. These duties are on certain information and technology products. This is the seventh time the decision is postponed. The dispute started in 2019. Japan, the EU, and […]

India is negotiating free trade agreements (FTAs) with several countries, including the US, EU, and UK, to secure better access for its steel exports, according to trade minister Piyush Goyal. The government is working on 10-12 FTAs to promote India’s high-quality, cost-effective steel sector.

The terms of reference for a bilateral deal, which was finalized by both sides this week, includes trade in goods as well as services, the report said, citing people familiar with the matter said.

Following a terror attack in Pahalgam, India faced trade suspension from Pakistan. This includes routes through third countries. The Federation of Indian Export Organisations (FIEO) says bilateral trade was already minimal. India’s exports to Pakistan included organic chemicals and pharmaceuticals. Imports were meagre. Trade relations soured after the Pulwama attack. India had withdrawn Most Favoured […]

GTRI advises Indian exporters to avoid re-routing Chinese goods to the US to bypass tariffs, emphasizing genuine value addition and supply chain transparency. The US is imposing high tariffs on China, leading to trade strategy shifts and potential market distortions.

Pakistan has halted all trade relations with India, including via third countries, effectively ending commerce that had already diminished since the 2019 Pulwama attack.