India looking beyond US for pharma exports amid tariff tensions

India aims to increase medicine exports to Africa, Latin America, and Southeast Asia. This strategy reduces reliance on the United States due to tariff concerns. The Pharmaceuticals Export Promotion Council of India also plans to increase finished goods sales to Cheen. This addresses the trade deficit. The industry imports raw materials from Cheen.

EU trade chief Maros Sefcovic is scheduled to visit New Delhi next week, signaling significant advancements in the ongoing negotiations for a free trade agreement. Indian trade minister Piyush Goyal highlighted the “rapid progress” made in discussions with the EU, aiming for a deal by year-end. This development occurs amidst recent tariff hikes by the […]

The Trump administration has imposed tariffs on India for buying Russian energy. These tariffs are a response to Russia’s war in Ukraine. The US Supreme Court is reviewing the legality of these tariffs. The administration argues they are crucial for peace and economic prosperity. India views the tariffs as unjustified and is taking steps to […]

India seeks a swift conclusion to free trade agreement talks with the European Union. External Affairs Minister S Jaishankar discussed this with his German counterpart Johann Wadephul. Germany pledged its support for the India-EU FTA. Discussions also covered boosting ties in economy, climate, defence and technology.

During a meeting in New Delhi, India addressed migration, visa processes, and non-tariff barriers impacting Indian exporters in the EU, including Germany. Minister Goyal and Foreign Minister Wadephul agreed to collaborate on resolving these issues to facilitate smoother trade.

India’s crude imports hit a 10-month low in August due to weaker domestic demand, even as Russian supplies increased by 5.6% to 1.67 mbd, raising its share to 37%. Imports from Iraq, Saudi Arabia, and the US declined, while the UAE emerged as a significant gainer. Discounts on Russian oil continue to attract Indian refiners, […]

India has voiced concerns to Germany regarding migration, visa processes, and non-tariff barriers impacting Indian exporters in the EU. Both nations have committed to collaborative efforts aimed at resolving these issues and fostering smoother trade relations. The ministers also discussed doubling bilateral trade in goods and expanding trade in services.

Commerce Minister Piyush Goyal has assured exporters of government support in navigating steep US tariffs. He urged them to enhance product quality, diversify supply chains, and explore new markets. The government is committed to creating a supportive ecosystem through various initiatives and policy interventions. India’s exports rebounded in July, with a significant increase in trade […]

Piyush Goyal anticipates concluding a trade agreement with the US by November. Trade talks with the European Union are progressing well. Relations with China are improving as border tensions decrease. India has already finalized trade agreements with Mauritius, Australia, EFTA, the UK, and the UAE. India aims to be self-reliant by ensuring resilient supply chains.

India is accelerating its efforts to diversify export markets amid trade tensions with the US, actively pursuing new trade agreements with the Eurasian Economic Union (EAEU), the European Union (EU), and the South African Customs Union (SACU).