Exclude precious metals from FTA ambit: GTRI

India’s gold imports surged to a record $14.9 billion in November 2024, surpassing crude oil. Free trade agreements, like the one with the UAE, are blamed for fueling this increase through duty-free gold imports. A think tank recommends excluding precious metals from future FTAs to protect India’s trade balance and forex reserves.

India is expanding its e-commerce export capabilities. Three companies have been shortlisted from five applicants, including DHL and Lexship, to establish export hubs. Two hubs near Delhi airport will launch in February 2024. These hubs will streamline customs and offer an easy re-import policy. The government aims to boost e-commerce exports significantly, targeting over USD […]

India and three other nations oppose the China-led WTO investment agreement, preferring consensus on non-trade issues. Meanwhile, India evaluates its stance on the EU’s Carbon Border Adjustment Mechanism (CBAM) amidst ongoing FTA negotiations, concerned about potential tariffs impacting domestic industries.

India launched 43 anti-dumping probes this year. These investigations target several countries including China and Russia. The government also supported startups. The Startup India Seed Fund Scheme helped over 2,490 startups. Over half of these startups have a woman director. The National Single Window System streamlined business approvals. Over 7.6 lakh approvals were processed through […]

India and Australia concluded a three-day meeting to expedite their Comprehensive Economic Cooperation Agreement (CECA). Negotiators discussed market access, aligning with India’s food security goals, and explored collaborations in agriculture, supply chains, and other key areas. Building upon the interim ECTA, the CECA aims to broaden trade across goods, services, and emerging sectors.

Indian exporters experienced a mixed 2024, with higher online orders and demand for sustainable products but lower order values. Exports rose 5-8%, driven by the US and EU, despite slow demand in some European nations. Global brands shifted orders from Bangladesh to India due to political instability there, boosting garment exports. Rising Israel-Iran tensions posed […]

India and the European Union are gearing up for the next round of free trade agreement talks in March 2025 in Brussels. They aim to resolve differences on rules of origin and government procurement. Market access for Indian goods, services, and investments will be key discussion points, along with EU sustainability measures.

India and the EFTA bloc’s free trade agreement, signed in March, awaits ratification by the four EFTA nations, including Norway, which aims to complete the process by 2025. Discussions at the India-Norway Business Forum in Mumbai highlighted the agreement’s potential to boost trade and investment, focusing on renewable energy and maritime industries.

External Affairs Minister S. Jaishankar addressed the Doha Forum, emphasising India’s strong relationship with the US and dismissing the idea of weakening the dollar. He highlighted the positive ties during the first Trump administration, including the QUAD’s revival, and noted the personal bond between PM Modi and Trump.

India continues to stay out of the RCEP trade deal. The government affirmed its 2019 decision. Concerns remain unaddressed. This comes as imports from China crossed $100 billion. Indian exports to China saw a slight decline. The trade imbalance with China continues to widen. The government is focusing on domestic production.