India’s trade negotiators to strategise for WTO this month

Indian trade negotiators are set to convene later this month to strategize for the upcoming WTO ministerial conference and prepare for the country’s trade policy review next year. The focus will be on WTO reform, particularly restoring the dispute settlement mechanism and consensus-based decision-making. India also aims to address trade distortions caused by non-market economies […]

India and China are poised to begin discussions on a trade package encompassing critical rare earth magnets, fertilizers, and pharmaceuticals, potentially signaling a thaw in relations amid global trade tensions. Consultations are expected around the time of the SCO summit.

Bengaluru’s Kempegowda International Airport saw a successful mango export season. The airport shipped 921 metric tonnes of mangoes, equivalent to 31.5 lakh fruits. This represents a 12% increase compared to last year. The mangoes came from Karnataka and nearby areas. Shipments reached 51 international destinations, including 19 new locations. Top destinations included Dulles, Dallas-Fort Worth, […]

India is now negotiating free trade agreements with other nations on an equal footing, reflecting the country’s strengthened position under Prime Minister Modi. Minister Prasada highlighted India’s firm stance during FTA negotiations, emphasizing the nation’s rapid economic growth. The inauguration of the expanded Intellectual Property Office in Dwarka signifies India’s commitment to innovation and intellectual […]

A parliamentary panel suggests India raise concerns about the EU’s anti-deforestation rules at the WTO. They want a review of free trade agreements’ effects on the spice trade. The committee urges promoting ‘Make in India’ for leather goods to protect artisans. They highlight the need to safeguard Indian spice farmers’ interests in trade deals.

Crisil reports that the 25% tariffs on Indian goods due to Russian oil purchases could render exports to the US “unviable,” impacting sectors like diamond polishing, shrimp, and home textiles. Other sectors with US trade exposure, including garments and chemicals, also face potential repercussions.

Global trade faces a significant transformation marked by rising protectionism and geopolitical tensions. Businesses must navigate a fragmented landscape with complex legal challenges, including sanctions and diverging regulations. Strategic foresight, diversification, and local expertise are crucial for resilience and seizing opportunities in this evolving trade order, where legal strategy is paramount.

India’s free trade agreement with the UK is poised to significantly boost textile exports, potentially increasing them by 30-45% by 2030. The agreement eliminates duties, providing a competitive edge over rivals like Bangladesh and China, especially for garments, home textiles, carpets, and handicrafts.

China is easing urea shipment restrictions to India, signaling improved relations amid trade tensions with the US. India, a major urea importer, could receive up to 300,000 tons, potentially easing global supply constraints. This follows relaxed visa rules and possible meetings between leaders, indicating a thaw in relations after border clashes in 2020.

Indian officials have briefed a parliamentary panel on the challenging phase in Indo-US trade relations, emphasizing India’s commitment to constructive dialogue while acknowledging certain non-negotiable red lines. Despite trade tensions, positive aspects of the relationship were highlighted, including US support on extradition and counter-terrorism efforts.