India getting into ‘offensive’ play after Trump’s trade check

India prepares for trade talks with the returning Trump administration. The government consults with industry to identify key export priorities. Potential tariffs and the mini-trade deal are under consideration. India also explores strategies like IT export diversification and domestic manufacturing growth. The Indo-Pacific Economic Framework trade pillar remains a point of contention.

India argues against including investment protection within free trade agreements (FTAs), citing potential negative impacts on trade structures and dispute resolution. They advocate for separate investment protection agreements, highlighting concerns about arbitration costs and biases, favoring local remedies before international arbitration, aligning with other developing nations.

India and the EU discussed trade barriers and a potential free trade agreement. Commerce Minister Goyal highlighted non-tariff barriers impacting Indian businesses in the EU. Both sides agreed to work towards a mutually beneficial FTA. Nine rounds of negotiations have already taken place.

India and the EU are working to address trade barriers under FTA negotiations. India’s Commerce Minister highlighted non-tariff barriers impacting domestic industries, urging resolution as a confidence-building measure. Both sides aim for a balanced and mutually beneficial agreement, with further talks scheduled for March in Brussels.

India probes surging steel imports. Domestic steel makers allege harm from the import rise. The government might impose a 20% safeguard duty. The probe covers various steel products. It excludes certain specialized steel types. The investigation will analyze import data from recent years. A decision on duties is expected soon.

Indian garment, handicraft, and engineering exporters anticipate 5-10% gains from the rupee’s decline. However, import-dependent sectors like gems, jewelry, and electronics face rising input costs, offsetting potential benefits. Further, sharper depreciations of other currencies may pressure Indian exporters to lower prices, limiting long-term competitive advantages.

India’s import data since July is under scrutiny due to a potential miscalculation in gold imports. A transition in data portals may have led to errors, prompting a govt investigation. November’s gold imports were initially reported at a record high, impacting the trade deficit. Officials are examining whether gold movements within special economic zones were […]

US Ambassador Eric Garcetti advocated for stronger US-India trade ties, emphasizing the need for lower tariffs and increased fairness. He lauded India’s workforce and called for combining American resources with Indian ingenuity to achieve mutual ambitions.

India’s November 2024 gold import figures, showing a record high of $14.86 billion and a quadrupled increase, are under scrutiny by the commerce ministry due to a potential discrepancy. This surge contributed to a record trade deficit, prompting investigations into possible data errors similar to a 2011 incident. Experts are divided, with some suspecting miscalculations […]

India prepares to offer tariff cuts on US goods like pork, medical devices, and motorcycles, seeking a broader trade deal with the incoming Trump administration. To address trade imbalances, India proposes increased purchases of US LNG and defense equipment. Officials see opportunity in Trump’s China tariffs, pitching India as an alternative manufacturing hub.