India eases curbs on Chinese equipment imports for power, coal as projects delayed: Reports

This is the first significant ‌easing of ⁠five-year-old curbs that ⁠have largely shut Chinese firms out of India’s $700 billion-$750 billion government contract market.

India’s oilmeal exports saw a significant drop of 42 percent in January. Shipments of soyabean meal and rapeseed meal plunged, impacting the overall figures. Ricebran extraction, however, showed a surge. This decline affects animal feed supplies. Key buyers include China, South Korea, Bangladesh, and Germany. Processors awaited new crop supplies for rapeseed meal.

India and France elevated their relationship to a ‘special global strategic partnership,’ pledging enhanced cooperation in defense, AI, and clean energy. The leaders virtually inaugurated a Tata Airbus facility for helicopter manufacturing and export, underscoring a commitment to ‘Make in India’ and bilateral innovation.

India’s global trade presence has transformed under Prime Minister Narendra Modi. New trade agreements are opening markets in Europe, the Gulf, Oceania, and North America. These deals ensure preferential access for Indian exports, boosting sectors like IT, textiles, and gems. Sensitive agricultural products remain protected.

India has offered quotas for most agricultural products in its proposed interim trade agreement with the United States. Officials stated the quantities are largely small and align with import needs. The pact aims for a March signing. India’s chief negotiator will visit Washington to finalize the legal text.

A significant basmati rice deal has been struck. An Indian Rice Exporters Federation member will supply 5,000 tonnes to the United States. This agreement follows the finalisation of the India-US trade deal. America has agreed to reduce tariffs on Indian goods. This development is a positive step for Indian rice exports.

In an important diplomatic move, Darpan Jain, a senior IAS officer, will spearhead India’s delegation in Washington next week. This visit will focus on cementing the legal framework of the proposed India-US Interim Trade Agreement as negotiations transition into the drafting phase. The trip is crucial for solidifying a partnership that promises mutual trade benefits […]

India’s textile and apparel exports saw a dip in January. High tariffs from the United States impacted shipments. However, a recent reduction in these tariffs is expected to boost export competitiveness. This change should support a recovery in textile and apparel shipments in the coming months. The sector’s share in India’s total exports also saw […]

Surging gold and silver imports widened India’s January trade deficit to $34.68 billion. Imports jumped 19% while exports barely grew, with services offering limited relief amid weak global demand.

India and the US have not yet discussed digital trade in their initial trade agreement. This crucial chapter will be negotiated as part of the larger bilateral trade agreement. US companies are eager to explore India’s rapidly expanding digital trade sector. The two nations are committed to establishing clear rules for digital trade.