India must rein in imports, push exports: Nitin Gadkari

India aims to be the world’s third-largest economy. Minister Nitin Gadkari stated this requires reducing imports and boosting exports. He highlighted converting agricultural waste into a national resource. This process can cut pollution from crop burning. It also strengthens the circular economy. Blending 15% with agro-waste can save foreign exchange. This will significantly reduce dependence […]

In an unprecedented move, India has brought in three million cotton bales during the December quarter, spurred by a newly established duty-free window. This influx can be attributed to declining domestic yields and crop damage affecting quality. With projections indicating sustained high imports through FY26, mills have fortified their inventories of cotton, securing supplies until […]

The Indian leather industry met with a Parliamentary Standing Committee on Commerce, highlighting that 50% US tariffs are significantly harming exports and impacting the sector’s competitiveness. They urged for bilateral engagements to address trade barriers and requested policy and diplomatic support to mitigate socio-economic consequences.

Ramesh Juneja has taken over as the new Chairman of the Council for Leather Exports. The organization sees significant growth potential for India’s leather and footwear exports. Bilateral trade agreements with the EU and US could boost exports to $14 billion in the next 3-5 years. Currently, exports stand at around $5.5 billion.

New Zealand and India have concluded a Free Trade Agreement. This pact is set to boost exports and create jobs for New Zealand. The deal aims to enhance market access and promote investment. It is expected to take effect in seven to eight months. This agreement signifies a significant step in strengthening bilateral economic ties […]

Commerce and Industry Minister Piyush Goyal will visit Brussels from January 8-9 to meet EU Commissioner Maroš Šefčovič, aiming to expedite the conclusion of the India-EU Free Trade Agreement. The discussions will focus on resolving outstanding issues and securing tangible benefits for India’s labor-intensive sectors.

A Parliamentary committee is studying the effects of increased US tariffs on Indian goods. The panel is visiting Visakhapatnam, Chennai, and Coimbatore to meet with industry leaders and government officials. They are examining challenges in the marine, automotive, leather, and textile sectors.

India has become a major buyer of Russian crude oil since the Ukraine war. The country imported billions of euros worth of oil. This trade continues despite international sanctions. Some Indian companies have stopped purchases due to new US sanctions. Other refiners still buy from Russia. Russia’s earnings from global fossil fuel sales are substantial.

US Senator Lindsey Graham claims Indian Ambassador Vinay Kwatra requested the removal of tariffs on India, imposed due to Russian oil purchases. Graham stated this pressure led India to significantly reduce its imports of discounted Russian crude. Former President Trump also indicated he was unhappy with India’s oil deals and could impose further tariffs.

The Directorate General of Foreign Trade (DGFT), on January 3, amended the import policy of Low Ash Metallurgical Coke, having ash content below 18%, including coke fines/coke breeze and ultra-low phosphorous metallurgical coke, to “free” from “restricted” earlier.