Elon Musk met Modi, assume he wants to do business in India: Donald Trump

Indian Prime Minister Narendra Modi met Tesla CEO Elon Musk in Washington, discussing collaboration in space, mobility, technology, energy, and governance. Modi highlighted India’s reforms and “Minimum Government, Maximum Governance.” US President Donald Trump remarked that Musk likely seeks business opportunities in India.

The Indian government has outlined the procedure for filing applications to import gold bullion at a reduced tariff rate under the Comprehensive Economic Partnership Agreement (CEPA) with the UAE for 2025-26. India can import up to 200 metric tonnes of gold annually with a 1 per cent tariff concession. Applications must be submitted by February […]

The Indian electronics industry seeks enhanced trade ties with the US aiming for $750 billion in bilateral trade by 2032, including $100 billion in electronics. They highlight opportunities created by policies like the Production Linked Incentive (PLI) scheme and call for favorable trade concessions and technology partnerships from the US.

American almonds constitute 93% of India’s almond imports, valued over $1 billion last year, and American pistachios 84%. Demand for dry fruits has grown due to health focus and higher incomes. The US almond market in India has grown due to strong marketing. Australia and Chile also contribute, while US seeks more trade concessions.

India has exported up to 500,000 metric tons of sugar this season, focusing on countries like Sri Lanka, Bangladesh, and Nepal. The pace is slowing due to mill closures and poor harvest conditions. Experts doubt the one million-ton quota will be met by September 2025.

The Directorate General of Trade Remedies (DGTR) has ended its anti-dumping investigation into Chinese fasteners. The probe was discontinued due to insufficient evidence of dumping and harm to Indian producers. The DGTR initiated the investigation on its own in September 2023. The decision aims to protect MSME producers against dumped goods from China.

India’s Finance Minister Nirmala Sitharaman attributed the recent weakening of the rupee against the US dollar to a combination of global and domestic factors, including the dollar index, capital flows, and interest rate trends. The rupee depreciated 3.3% between October 2024 and January 2025, a smaller decline compared to other Asian currencies like the South […]

Commerce and Industry Minister Piyush Goyal underlined the sub-optimal bilateral trade between India and Israel, urging for a tenfold increase. With potential in sectors like technology and renewable energy, Goyal said he saw significant growth in trade and investments over the next 12-13 years.

India reduced customs duties on multiple products ahead of Prime Minister Modi’s US visit, aiming to ease trade tensions. The move targets better trade relations, given the US’s significant export market for India and the risk of reciprocal tariffs under the Trump administration.

India’s thermal coal imports are expected to decline for the second consecutive year in 2025 due to reduced coal dependency for power generation, slowing economic activity, and high inventories. Imports fell around 2% to 173 million metric tons in 2024, driven by increased domestic production and competitive alternatives like petroleum coke preferred by the cement […]