India, Australia trade talks hit dairy, wine tariff hurdles as year-end deadline looms, say sources

India has declined Australia’s request for lower tariffs on dairy and alcohol. This move is slowing down the trade agreement talks between the two nations. Indian officials are concerned about the impact on local farmers and the wine industry. Australia seeks better access for its dairy products. Despite this, both countries are still hopeful for […]

Solvent Extractors Association asked the government to permit coconut oil and copra imports. This request aims to control rising domestic prices. Coconut oil prices have tripled in the last year. Pest attacks have reduced India’s coconut production by 40 percent. High prices are causing consumers to switch to cheaper alternatives. SEA believes imports will stabilize […]

To address the underutilisation of the Asean-India trade agreement and a growing trade deficit, the commerce department is surveying exporters. The questionnaire aims to identify challenges like tracing raw material origins, interpreting procedures, and compliance costs. This review seeks to eliminate barriers, prevent misuse, and improve export performance under the AITIGA.

The United States has expressed concerns at the World Trade Organization regarding India’s dairy certificate requirements. America views them as unnecessary trade barriers. These requirements mandate confirmation that imported milk products are free from harmful substances. Washington insists such measures should be science-based. This issue arises amidst ongoing trade negotiations between the two nations.

India and the US are actively negotiating a trade deal. Indian negotiators will soon visit the US to advance talks. Both countries aim to finalize the first phase by Fall. An interim trade deal is also being considered. India has already implemented multiple FTAs and seeks to integrate further with major economies.

India has adjusted its plan for retaliatory tariffs on the US due to increased duties on steel and aluminium. The WTO received India’s request to modify tariffs on American goods. This action follows the US raising tariffs to 50 percent. India’s move aims to collect equivalent duties from US products.

The Singapore Indian Chamber of Commerce and Industry (SICCI) has lauded the government’s Business Adaptation Grant, designed to help local businesses, especially SMEs, navigate the complex cross-border tax landscape impacted by US trade tariffs. Capped at SGD 1,00,000 per company, the grant supports businesses in areas like supply chain review and exploring new markets.

Commerce and Industry Minister Piyush Goyal stated that free trade agreements with developed markets like Australia, UAE, and the UK will significantly enhance market access for India’s agricultural sector. Despite a global slowdown, India’s agri exports reached Rs 4 lakh crore. These FTAs aim to open new opportunities for the sector.

India’s specialty fertilizer imports face disruption as China halts exports, prompting a shift to pricier alternatives from Europe, Russia, and West Asia. This situation, impacting crucial nutrients like MAP and CN, is expected to raise prices and potentially affect the productivity of India’s horticulture sector.

Indian iron ore pellet makers are concerned about a surge in imports, allegedly from Iran via Oman, circumventing U.S. sanctions. These cheaper imports threaten the domestic industry, causing producers to operate at reduced capacity. The Indian Ministry of Steel is reviewing a petition from the Pellet Manufacturers Association of India regarding these concerns.