US lifts decades-old restrictions on BARC, IGCAR and Indian Rare Earths in diplomatic breakthrough with India

The U.S. Bureau of Industry & Security has removed three Indian entities, Indian Rare Earths, IGCAR, and BARC, from its restrictive list. This move aims to boost joint research and collaboration in science and technology, particularly in the energy sector, strengthening bilateral ties and energy security.

India’s electronics exports saw a significant increase of 35.11 per cent to USD 3.58 billion in December 2024, the highest in 24 months, highlighting the country’s growing electronics manufacturing sector. This growth is fueled by favourable government policies, rising global demand, and expanding domestic production.

The UK government has relaunched Free Trade Agreement (FTA) talks with India, aiming to enhance their bilateral relationship, focusing on trade and green technologies. Foreign Secretary David Lammy highlighted meetings with Indian business leaders and an invitation for his Indian counterpart. The FTA, which saw negotiations paused for elections, is set to resume, potentially boosting […]

India is finalizing fair and balanced free trade agreements (FTAs) only after extensive consultations, Commerce Minister Piyush Goyal said. Highlighting the $100 billion FDI commitment from EFTA and notable pacts with Australia and UAE, Goyal addressed India’s robust export figures and manufacturing growth, attributing successes to the government’s transformative governance principles.

India plans to enhance its textile and garment industry with financial support, reduced tariffs on crucial inputs, and local production incentives in its upcoming budget. The political turmoil in Bangladesh has led global retailers to consider India as an alternative, leading to increased export orders for Indian garment producers. The government may raise textile ministry […]

The weakening rupee is unlikely to significantly impact India’s trade balance, inflation, or growth prospects despite hurting importers. Limited commodity price rises and weak global growth, especially in China, help mitigate imported inflation. Excessive rupee interventions may hinder growth and further strain forex reserves and liquidity.

India’s trade is set to grow by 6.4% annually, reaching USD 1.8 trillion by 2033, driven by its potential as a global manufacturing hub. ASEAN’s trade is also expected to rise by 3.7% annually. The report highlights the impact of US tariffs on global trade dynamics and the increased focus on the Global South.

Depreciation of the rupee against the US dollar is providing limited benefits to Indian exporters due to high import content in shipments and global market uncertainties. Exporters face increased costs for raw materials and other dollar-denominated expenses. This rise offsets the benefits of a weaker rupee. The falling rupee also impacts imports, foreign education, and […]

Commerce Minister Piyush Goyal has assured garlic traders that their concerns over illegal Chinese garlic imports will be investigated. Traders highlighted the impact of these imports on the market and alleged that garlic was being routed via Afghanistan, Iran, and Iraq. Garlic imports to India stood at USD 7 million during April-October, mainly from Afghanistan […]

Rosatom announced a record cargo shipment of 37.9 million tons via the Northern Sea Route in 2024. The year also marked the launch of new icebreakers and saw a record number of transit voyages and navigation permits. The development of the Great Northern Sea Route is poised to enhance connectivity across Russia, Europe, and the […]