India and EU must work as partners, not as competitors, says Prasada

India and the EU should collaborate to address non-tariff barriers and align standards to ease trade, amid global economic uncertainties, said Jitin Prasada, India’s minister of state for commerce and industry. He emphasized the need for Europe to diversify its supply chain and highlighted India’s large talent pool in sectors like IT, engineering, healthcare, and […]

India’s merchandise exports decreased by 10.9% in February, marking the sharpest decline in 20 months due to subdued global demand and a high base effect. Imports also dropped by 16.3%, leading to a reduced trade deficit of $14 billion, the lowest in 42 months.

Slovenia’s potential involvement in the IMEEC could position Port Koper as a vital trade route between India and Central/Eastern Europe. Slovenian Minister Tanja Fajon highlights direct shipping links, potential economic benefits, and support for a Free Trade Agreement between the EU and India. SITE initiative collaboration aims at sectors like renewable energy, space, and food […]

India and the US are finalizing a Bilateral Trade Agreement (BTA) and have not yet addressed reciprocal tariffs. Commerce Secretary Sunil Barthwal indicated active engagement and stakeholder consultations, anticipating a positive outcome. During his visit to Washington from March 4-6, Goyal met with US Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer.

Moody’s Ratings warns that US tariffs pose risks to South and Southeast Asian companies, notably in automotive, steel, and chemicals sectors. Indian IT giants like TCS and Infosys are well-positioned despite potential US immigration policy changes. Vehicle export impacts are limited, with most mining and energy firms unaffected.

Exporters in sectors like electronics, gems and jewellery, apparel, and footwear are airlifting goods to the US to avoid reciprocal tariffs starting April 2. This method is mainly viable for specific products due to time constraints. Exporters are adjusting shipment volumes to accommodate buyer requests, spreading deliveries over several months.

India and New Zealand have resumed negotiations for a Comprehensive Economic Cooperation Agreement after a decade-long hiatus. The agreement aims to enhance trade in goods, services, and investments, potentially unlocking new business opportunities and improving market access. The discussions will focus on balancing outcomes that benefit both nations.

India and New Zealand resume negotiations for a free trade agreement after efforts stalled in 2015 over issues like dairy and agriculture. The renewed talks aim to boost trade, services, and investment, fostering mutual economic growth. Indian goods exports to New Zealand hit $494.44 million during April-December FY25.

India seeks to enhance its export potential in the proposed FTA with the EU by aiming for reciprocal concessions, particularly in the medical devices sector. Current negotiations are imbalanced, with the EU imposing stringent regulatory barriers, making it difficult for Indian exporters to access the EU market.

India’s merchandise trade deficit is set to face pressure in fiscal year 2026 due to strong domestic private consumption inflating imports, and potential export declines amid a slowing global and US economy. The resilient service trade surplus will offer some cushion, but heightened risks from US tariffs persist.