India, Oman free trade agreement likely to be announced soon: Official

India and Oman are poised to finalize a free trade agreement soon, with the text currently being translated into Arabic for Omani cabinet approval. Both nations intend to jointly announce the conclusion and signing of the Comprehensive Economic Partnership Agreement (CEPA), potentially in less than two to three months. Bilateral trade between the countries exceeded […]

Former Minister MJ Akbar suggested President Trump’s protectionist policies could make him the “most socialist president” by challenging free trade. He highlighted the inconsistency of US tariffs, particularly concerning India’s Russian oil purchases, while China faces no such action.

Amidst a challenging global trade environment, the Indian government has formed a committee to assess the impact of taxes, incentives, and procedures on exports. This move comes as India’s June exports saw a slight dip and the US imposed significant tariffs.

Donald Trump has refused trade talks with India until tariff issues are settled. This follows the US raising tariffs on Indian imports to 50%. The US trade negotiators are still expected to visit New Delhi later this month for trade agreement talks. An Indian official confirmed that the visit is still on schedule.

Moody’s Ratings projects that the US’s 50% tariff on Indian goods could reduce India’s economic growth by 0.3 percentage points in 2025-26. This widened tariff gap compared to other Asia-Pacific nations may hinder India’s manufacturing ambitions, especially in high-value sectors. SBI estimates India’s fuel import bill could rise significantly if Russian oil imports cease.

Government e-Market (GeM) will introduce a global tender enquiry feature this year to boost competition, aligning with India’s opening of public procurement under FTAs like those with the UAE and the UK. This addition will enable ministries to access a broader range of international vendors. GeM, which recorded ₹5.

Commerce and Industry Minister Piyush Goyal announced India is actively negotiating trade agreements with countries like the US, Oman, and the EU, confident that exports will surpass last year’s figures. Despite US tariffs, India sees opportunities in restructuring trade routes and remains optimistic about its economic growth, contributing significantly to global expansion.

US President Donald Trump has ruled out any trade negotiations with India following his administration’s move to double tariffs on Indian imports to 50 percent. The White House cited India’s continued purchase of Russian oil as the trigger. Prime Minister Narendra Modi responded by stating that India will not compromise on the interests of its […]

India is reassessing its market access offer to the US ahead of trade talks later this month, despite the US doubling tariffs. While agriculture and dairy remain non-negotiable, other sectors are under review. India is also working on a three-pronged relief plan for exporters, including support schemes and goods diversion, to soften the impact of […]

A day after the US announced steep new tariffs on Indian goods, Prime Minister Narendra Modi reaffirmed his government’s commitment to protecting the interests of farmers, livestock rearers, and fisherfolk, saying their welfare remains the top priority. Speaking at a conference, he ruled out any compromise, even if it comes at a political cost, amid […]