Trump admin calls India ‘strategic ally’ even as trade negotiators race against tariff deadline

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, […]

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 […]

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.

India restricts jute imports from Bangladesh through specific ports. This action addresses concerns about subsidized jute products impacting the Indian jute industry. The move follows evidence of circumvention of anti-dumping duties. Earlier, similar restrictions were placed on garments and food items. The government aims to protect domestic jute farmers and mills from unfair competition.

India has restricted jute and allied fibre imports from Bangladesh, citing unfair trade practices like anti-dumping duty circumvention that harm Indian farmers. The restrictions, effective immediately, apply to all land and seaports except Nhava Sheva. This action aims to counter these practices, promote self-reliance, and protect the livelihoods of those dependent on India’s jute economy.