India, Brazil initiate talks to expand Mercosur trade pact

In a significant diplomatic effort, India and Brazil are engaging in negotiations to enhance their trade agreement, aimed at bolstering economic ties with the Mercosur bloc. Following Brazilian Vice President Geraldo Alckmin’s recent visit to India, the countries are eager to expand their trade preferences. The discussions are projected to wrap up in the next […]

President Trump issued an ultimatum to India, threatening massive tariffs unless it significantly reduces its import of Russian crude oil. This move directly links Washington’s goal of cutting Moscow’s war funding to economic consequences for Indian exporters, following previous tariff hikes.

India’s exports to the United States have seen a decline. Shipments to other countries are performing strongly, exceeding previous growth. This trend follows a US tariff hike. Global trade growth is also projected to slow. However, India’s current account deficit is expected to remain manageable due to strong services exports and remittances.

Indian exports are diversifying. Shipments grew in 24 countries during April-September. This diversification offsets a decline in exports to the US. High tariffs imposed by the US impacted trade with America. Exporters are focusing on new markets in Africa, Latin America, and the Middle East. This trend is expected to continue.

India and the US are holding trade talks in a cordial atmosphere. India is committed to protecting its farmers, fishermen, and MSME sectors. The first phase of the bilateral trade agreement is targeted for fall 2025. Despite global uncertainties, India’s exports are expected to grow. Most e-commerce firms have passed on GST benefits to consumers.

This month, India’s Commerce Minister Piyush Goyal is set to embark on a significant journey to Brussels, focused on revitalizing the free trade agreement discussions with the European Union. After a series of proactive dialogues and deeper collaboration between India and the EU, both parties are hopeful of sealing the deal by December.

Commerce and Industry Minister Piyush Goyal expressed confidence in India’s export growth for 2025-26, despite global uncertainties from US tariffs. He noted positive growth in goods and services exports during April-September, highlighting the resilience and global demand for Indian products. Goyal also discussed the positive impact of GST rate cuts on investor sentiment and consumer […]

India’s Commerce Minister Piyush Goyal stated that trade talks with the US are progressing cordially, with New Delhi prioritizing the protection of its farmers, fishermen, and MSME sectors. Both nations aim to conclude the first phase of a bilateral trade agreement by fall 2025, with a goal to more than double bilateral trade to $500 […]

India’s imports of AI-enabling goods surged by 13.1% to $66.8 billion in FY25, with the US contributing significantly. Processors, controllers, and memories from the US now form over half of India’s AI-related imports, highlighting a growing dependence on American advanced computing hardware for its burgeoning AI ecosystem.

ASSOCHAM plans to propose cross-sectoral measures to the Centre aimed at reducing India’s import dependence, specifying potential import reduction quantum for implemented interventions. These long-term strategies will focus on policy changes and incentives, with a study to identify single-country import dependencies. The industry is also exploring alternative technologies to counter disruptions like China’s rare earth […]