“Approach will be guided by India First,”: Piyush Goyal on his meeting with US Trade representative

Commerce Minister Piyush Goyal had a productive discussion with US Trade Representative Jamieson Greer on a bilateral trade agreement, emphasizing ‘India First’ and ‘Viksit Bharat’. Leaders set a target to boost bilateral trade to USD 500 billion by 2030, aiming for fairness and job creation, while discussing tariff reciprocity.

In 2024, China and India surpassed global trade norms, driven by developing economies and robust services trade. Despite record expansion, the UN Trade and Development warns of rising protectionism and emerging trade imbalances. As geopolitical tensions and shifting policies threaten stability, balanced policies and global cooperation are crucial for maintaining long-term growth and preventing economic […]

The Directorate General of Trade Remedies (DGTR) recommends anti-dumping duty of up to USD 20.87 per kilogram on imports of ‘Vitamin A Palmitate’ from China, the EU, and Switzerland to protect domestic industry. The DGTR also suggests a duty of up to USD 358 per tonne on ‘Insoluble Sulphur’ from China and Japan for five […]

America’s Commerce Secretary, Howard Lutnick, stated that India blocks U.S. farmers’ products and emphasized that President Trump aims to negotiate with countries like India that hinder access to global markets. He praised the UK and Mexico for avoiding retaliation against U.S. tariffs but warned that countries upsetting Trump could face severe responses.

Commerce Minister Piyush Goyal reassured exporters in sectors like leather and textiles regarding US tariff threats during a virtual meeting. Officials highlighted the ongoing bilateral trade agreement talks with the US. Concerns over potential US reciprocal tariffs impacting exports were discussed, along with exploring opportunities arising from the tariff war. Various suggestions to boost exports […]

Commerce Minister Piyush Goyal reassured exporters of safeguarding India’s interests in the US Bilateral Trade Agreement. He urged against protectionism, encouraged industry input on export-promotion, and discussed measures to counter Chinese dumping. With plans to surpass $800 billion exports, Goyal highlighted ongoing efforts to finalize beneficial trade agreements and ensure market access for Indian goods […]

Stephen Schwarzman, Blackstone’s CEO, believes the new US tariff regime could boost growth by attracting foreign investments and revitalizing US manufacturing. He anticipates significant economic expansion driven by increased manufacturing activity. Schwarzman also discussed Blackstone’s plans to double its India exposure to $100 billion, highlighting infrastructure investment opportunities.

India is in talks with the Democratic Republic of Congo (DRC) to sign an agreement securing critical minerals like cobalt and copper. These minerals are vital for India’s energy transition and growing industrial demands. India is looking to secure such supplies from resource-rich countries like Congo, Mongolia, and Zambia. The Indian mines ministry plans to […]

India risks widespread factory shutdowns and job losses due to upcoming quality control orders (QCOs) on steel fastener imports. The QCOs, to be implemented in phases, might lead to critical shortages and customs delays. Small firms may struggle with certification, potentially causing industrial stagnation.

India’s trade deficit likely narrowed to USD 21.5 billion in February from January’s USD 23 billion, driven by a moderation in the Non-Oil-Non-Gold segment. The oil trade deficit decreased due to lower global Brent crude prices and reduced oil imports from Russia. Rising geopolitical risks and tariffs could limit further trade balance recovery.