Govt formulating strategy considering exporters and consumers’ interest

The government is formulating a strategy to safeguard exporters’ interests, leveraging India’s 1.4 billion consumer market in trade negotiations. Engineering goods export target is set at $118 billion for FY25. EEPC suggests exemptions on safeguard duties for SMEs exporting engineering products to maintain global competitiveness.

India’s goods exports decreased for the third consecutive month, registering $36.43 billion in January and widening the trade deficit to $22.99 billion. Despite this decline, sectors like electronics, engineering goods, and pharmaceuticals showed growth. Imports, particularly gold, increased significantly, contributing to the rising trade deficit.

India and the European Union are set to hold the next round of free trade agreement talks from March 10 to 14, while India’s Commerce and Industry Minister will meet with the UK’s Minister of State for Trade Policy on February 24, followed by India-UK FTA talks restarting on February 25.

Qatar Emir Sheikh Tamim Bin Hamad Al-Thani’s visit to India may lead to significant investments from Qatari sovereign fund and increased LNG purchases. India may explore a trade deal with Qatar. Notably, QatarEnergy signed a long-term LNG supply deal with Petronet LNG, and Qatar Investment Authority made substantial investments in Indian firms, including Reliance Retail […]

India’s exports to the US increased by 39% year-on-year to USD 8.44 billion in January, while imports rose by 33.46% to USD 3.57 billion. The US remained India’s largest trading partner during April-January, with significant trade surplus and bilateral trade reaching USD 119.71 billion in 2023-24.

India and Qatar will discuss boosting bilateral trade and investments, with Commerce Minister Piyush Goyal and his Qatari counterpart Sheikh Faisal bin Thani bin Faisal Al Thani leading the talks at a Joint Business Forum on February 18. The discussions aim to explore joint ventures, FDI, and technology partnerships.

India and the US are set to negotiate a bilateral trade agreement aimed at enhancing economic ties, with plans to more than double two-way commerce to USD 500 billion by 2030. This anticipated deal, set for fall 2025, is expected to boost confidence and leverage competitive strengths, reflecting India’s growing relevance globally.

India aims to expand bilateral trade with the US to USD 500 billion by 2030. Focus areas include technology, defence, and green energy. Currently, India’s trade surplus with the US stands to benefit significantly. A trade agreement by 2025 is on the horizon, promising more investment opportunities and stronger global value chain integration.

Prime Minister Modi’s visit to the US was termed a big success, strengthening ties between the two countries. Key outcomes include discussions with President Trump, plans for military cooperation and technology partnerships, and the extradition of Mumbai terror attack accused Tahawwur Rana to India. An ambitious trade target of USD 500 billion by 2030 was […]

The impact of the U.S.’ proposed reciprocal tariffs on India depends on implementation details. Sector-specific tariffs on Indian labor-intensive exports like textiles and footwear could harm India, while product-specific tariffs may not. Experts suggest that India might need to negotiate tariff reductions or anticipate retaliatory measures, although clarity on the policy remains pending.