US-China deal to roll back high tariffs presents challenges, opportunities for India: Exporters

A temporary tariff truce between the US and China presents India with both opportunities and challenges. While increased US-China trade may intensify competition in some markets, India can leverage its strengths in sectors like pharmaceuticals and IT. Experts suggest India should proactively seek preferential trade access with the US and encourage domestic manufacturing to mitigate […]

India’s free trade agreement with the UK offers limited import duty benefits on beer and excludes wine, alongside dairy, apples, and other sensitive agricultural products. While Scotch whiskey and cars will become cheaper, duties on Indian garments and leather will reduce in the UK. The agreement, expected to be implemented in over 15 months, is […]

Mercedes-Benz and BMW view the India-UK FTA positively, anticipating it will foster growth through free trade. However, they suggest the agreement’s impact on luxury car prices in India will be limited due to the prevalence of CKD imports and quota restrictions. Both companies emphasize their commitment to local production and localization within the Indian market.

India and UK concluded a Free Trade Agreement. This will boost India’s garment exports. India’s market share in the UK is set to double. This could mean an extra USD 1.1-1.2 billion in exports. The FTA gives India an edge over competitors like China. Favorable policies in India will further help the garment sector.

India and the EU are set to begin the next round of FTA talks, aiming to finalize the first phase swiftly due to global trade uncertainties. Negotiations will cover market access, services, investment, and government procurement, with a focus on core trade issues for an early harvest.

India and the UK have concluded negotiations for a free trade agreement, aiming to double bilateral trade to USD 120 billion by 2030. The pact eliminates import duties on 99% of Indian goods entering the UK, while India safeguards sensitive sectors.

Kesar mangoes, known for their hardiness and appeal to the Gujarati diaspora, have overtaken Alphonso as India’s top mango export to the US, now India’s largest mango market. Kesar’s global exports have surged, driven by its longer shelf life and growing popularity, while Alphonso faces logistical challenges and competition from other varieties like Yemeni mangoes.

The US-UK trade deals offer insights into potential US trade approaches with India, cautioning Indian negotiators about prioritizing tariff-focused, transactional arrangements over comprehensive FTAs. GTRI warns India to anticipate US pressure for tariff reductions on agricultural products and eased FDI restrictions. It emphasizes the need for reciprocal, equitable trade deals that protect India’s interests.

India’s Free Trade Agreements (FTAs) are enhancing its competitiveness against major markets like the USA and China, with exports reaching a record USD 825 billion in 2024-25. The FTA with the UK is expected to double trade by 2030, creating jobs and boosting exports, potentially paving the way for agreements with the US and EU.

The India-UK Free Trade Agreement aims to strengthen economic ties, benefiting Indian exports like textiles and UK exports like Scotch whisky. While tariffs on UK automotive imports will decrease gradually with quotas, sensitive agricultural and industrial goods are excluded to protect domestic industries.