India trade delegation to visit Moscow as US tariffs hit exports

Indian exporters are visiting Moscow this week. This visit aims to find new markets for Indian goods. It comes as US tariffs increase and Indian exports to the US decline. Russia is seen as a key partner with potential for growth. Indian companies will showcase their engineering products at an expo.

The US has rejected India’s claim that its 50% copper tariffs are WTO safeguard measures, stating no basis for India’s proposed duty suspension on American goods. Washington asserts the tariffs, imposed August 1, are national security measures under Section 232, aiming to reduce foreign dependence on critical copper imports.

India’s External Affairs Minister S Jaishankar is in Canada for the G7 foreign ministers’ meeting. He aims to restart trade pact talks with Canada. Discussions will also cover technology, energy, and critical minerals. This visit follows a recent trip by Canada’s minister to India. Both nations agreed to begin ministerial-level trade and investment discussions soon.

The government will permit 1.5 million tonnes of sugar exports for the 2025-26 season. An export duty of 50 percent on molasses has also been removed. This decision aims to support sugarcane farmers. Sugar production is projected to exceed domestic demand, leading to surplus stocks. The export allocation is less than industry requests.

During the meeting, the Ministers reviewed the progress made under the CECA negotiations and discussed pathways to elevate bilateral trade and economic partnerships. The discussions covered a wide range of areas, including trade in goods, services, investment and mutually beneficial cooperation.

India and New Zealand made steady progress in their free trade agreement talks. The fourth round of negotiations concluded in Auckland and Rotorua. Ministers met to review the progress. The proposed FTA is expected to unlock potential in agriculture, food processing, renewable energy, pharmaceuticals, education, and services.

India’s Commerce Minister Piyush Goyal met with Australian counterparts in Melbourne to discuss trade in goods, services, investment, and cooperation. The discussions focused on unlocking the full potential of the India-Australia Economic Partnership and advancing negotiations for a comprehensive CECA, building on the existing ECTA.

India and New Zealand are moving towards a free trade agreement. This pact is set to boost trade and investment between the two nations. It will also strengthen supply chains. Businesses can expect better market access and predictability. Discussions are progressing well for an early and beneficial conclusion. Sectors like agriculture and renewable energy will […]

In an exclusive interview with ET, Russia’s ambassador to India Denis Alipov said both countries are committed to finding a way out amid unilateral sanctions on Russian oil companies.