India’s textile sector anticipates significant growth through upcoming FTAs with the US, UK, and EU, according to Minister Pabitra Margherita. Aiming for USD 100 billion in exports by 2030, the sector currently contributes substantially to India’s GDP and industrial output.
India’s FTAs with UK, US, EU to open new opportunities for Textiles sector: Margherita
India and the US are in crucial trade talks. New Delhi is firm on its stance regarding market access in agriculture. This includes GM crops and dairy. India hopes for a deal before July 9. After July 9, reciprocal tariffs from the US will take effect. India will not compromise the interests of its farmers.
Trump admin calls India ‘strategic ally’ even as trade negotiators race against tariff deadline
1 year ago
US President Donald Trump has agreed to attend the next QUAD Summit in New Delhi after accepting an invite from Prime Minister Narendra Modi. White House Press Secretary Karoline Leavitt called India a “very strategic ally” and underlined Trump’s close ties with Modi. As External Affairs Minister S. Jaishankar visits the US for QUAD talks, […]
Import duty cut on US farm goods under trade pact could undermine India’s food security: GTRI
1 year ago
GTRI cautions India against lowering import duties on US farm goods in the proposed trade agreement, emphasizing potential threats to food security. Cheap, subsidized US grains could flood Indian markets, harming local farmers and destabilizing rural livelihoods. Maintaining tariff flexibility is crucial to protect over 700 million people dependent on agriculture and manage global price […]
The White House indicated a potential trade deal with India is imminent as President Trump assesses tariff strategies. Negotiations face a critical July 9 deadline to avert a 26% tariff on Indian goods. India is holding firm on agricultural concessions, while both nations aim for a broader trade agreement by 2025, targeting $500 billion in […]
India has prolonged quantitative restrictions on low ash metallurgical coke imports from several countries, including Australia and China, until December 31, 2025, allowing 14,27,166 tons for July-December. Simultaneously, the Directorate General of Foreign Trade extended the minimum import price of Rs 20,108 per ton on soda ash until the end of the year, initially imposed […]
India’s trade deficit may surge to $300 bn in FY26 despite lower oil prices: ICICI Bank Report
1 year ago
ICICI Bank projects India’s trade deficit to widen to USD 300 billion in FY26, driven by weak non-oil export performance despite moderate oil prices. Imports are expected to remain strong due to robust domestic growth. Steady service exports and remittances should keep the current account deficit at USD 30 billion, or 0.7% of GDP.
India’s trade team has prolonged its stay in Washington to resolve disagreements with the US, aiming for a deal before the July 9 deadline for higher tariffs. Negotiations, initially set to end on June 27, have been extended, fueling optimism for an interim trade agreement.
India and the US are engaged in intense trade negotiations to finalize a pact before the July 9 deadline, addressing contentious issues like tariffs and market access. While progress has been made, disagreements persist on matters such as patent laws and agricultural imports.
Amit Shah announced a USD one billion turmeric export target by 2030. He inaugurated the National Turmeric Board headquarters in Nizamabad. The board will focus on farmer prices, exports, and research. Narendra Modi promised the board during the Telangana elections. The government allocated Rs 200 crores to improve turmeric quality and farmer income.