Expect India-EU trade deal by year-end: Piyush Goyal

India’s Unified Payments Interface (UPI) has officially expanded to Qatar, offering a convenient payment solution for the large Indian expatriate community and travelers. This rollout allows UPI payments across all retail shops, not just select duty-free outlets. The move aims to facilitate faster remittances and reduce transaction costs for the 830,000 Indian expatriates in Qatar.

An Indian firm, Bagadiya Brothers Pvt Ltd, has won a significant international rice import tender from Bangladesh. The company will supply 50,000 tonnes of rice. This marks the first such tender awarded directly by Bangladesh’s interim government. More tenders are expected, benefiting Indian rice exporters, especially from West Bengal. This development boosts demand and prices […]

Union Minister Piyush Goyal co-chaired the India-Qatar Joint Commission on Economic and Commercial Cooperation in Doha, focusing on strengthening bilateral trade and investment. Discussions included addressing trade barriers, exploring new cooperation areas, and boosting India’s exports to Qatar, aiming to double bilateral trade by 2030.

India’s historic TEPA with EFTA, effective October 2025, marks a new economic partnership with developed European nations. It secures a USD 100 billion investment pledge, creating one million jobs, while offering significant market access for Indian exports and making premium European goods more affordable for consumers, aiming to rebalance trade.

India and Qatar are poised to finalize a Free Trade Agreement by mid-2026, aiming to double bilateral trade to $30 billion by 2030. Discussions are accelerating negotiations, with Qatar’s $10 billion investment commitment in India showing significant progress. Both nations are exploring enhanced cooperation across various sectors, strengthening a key strategic partnership.

Releasing the NITI Aayog’s Trade Watch quarterly report for January-March quarter of 2024-25 on Monday, NITI Aayog CEO BVR Subrahmanyam said India needs to remap up presence in intermediates, strengthen trade with its neighbours, remove non-trade barriers and improve other factors of production including land and labour.

Niti Aayog CEO BVR Subrahmanyam expressed optimism about an imminent India-US trade agreement, highlighting mutual commitment. He also advocated for India to lower tariffs and market barriers to boost manufacturing competitiveness. While US tariffs haven’t impacted exports yet, future trade could be challenging if the deal isn’t finalized by November.

Erik Berglof from AIIB suggests India deepen trade ties with Asian nations. He advises revisiting the CPTPP decision for economic benefits. India must focus on drawing investments, especially in infrastructure. Increasing women’s workforce participation is vital for growth. Coordinating state-level green transition efforts will also be key. These steps can counter US tariffs.

Chinese expert Liqing Zhang stated China could import more from India if New Delhi joins the RCEP and becomes more open to Beijing. He emphasized RCEP’s potential to boost Indian goods’ competitiveness and bilateral trade, urging India to reconsider its stance.

UK Prime Minister Keir Starmer will visit Mumbai next week. This marks his first official trip to India. The visit will focus on the growing economic partnership. Implementation of the free trade agreement is a key agenda item. Prime Minister Narendra Modi and Starmer will review progress. They will also engage with business leaders.