An ambitious pact with Moscow's bloc could cut tariffs, boost exports from Armenia to Kyrgyzstan, and ease India's dependence on oil imports
The US is India's largest export destination for seafood, followed by the EU. China, Japan, Vietnam, and Thailand are also major seafood export destinations of India
India and Qatar are likely to finalise the framework for a free trade agreement in early October, with commerce minister Piyush Goyal expected to travel to Doha soon
The outcome of this round of negotiation will be crucial in determining the next steps, as both sides weigh the possibility of a political call to break the deadlock on the unresolved issues
The removal of the value threshold for GST refunds will significantly benefit small and e-commerce exporters by making even low-value shipments eligible for refunds
Commerce Minister Piyush Goyal confirms that industries will pass on the benefits of GST rate reductions to consumers and discusses plans to boost exports amid US tariff challenges
The US is also the third largest investor in India, with cumulative investments amounting to $76.26 billion between April 2000 and June 2025, ahead of Singapore and Mauritius
Government pledges policy interventions and trade support to ease impact of 50% US tariffs
Cabinet likely to take up proposal on Wednesday
Piyush Goyal said India and the US remain in talks for a trade deal despite tariff frictions, even as India advances free trade agreements with the EU and other partners
Donald Trump described India-US ties as a one-sided disaster citing high tariffs and Russian oil imports, even as the US Embassy highlighted enduring bilateral friendship
Govt plans SEZ reforms to offset US tariff hit, enabling duty relief on domestic sales and support for labour-intensive exporters
Exporters are expected to encounter delayed payments, stretched receivable cycles, and cancelled orders due to the tariff shock
The Union minister exuded confidence that the measures will ensure that India's exports in the current financial year will exceed that of last year's
Multi-pronged strategy in the works to help exporters
In the meantime, describing the India-US relationship as "very complicated", US Treasury Secretary Scott Bessent, in a television interview, hoped that "at the end of the day, we will come together"
A high-level EAEU delegation will visit New Delhi next month to begin negotiations on a proposed trade pact, expected to expand India's export markets
Exporters will need to explore new markets as the US is no longer an option for many, he stressed
Finalising a trade deal with the trade bloc has been a key priority for New Delhi, and it has now become even more critical
India's free trade agreements are evolving, incorporating new areas like labour, environment, and intellectual property. Barthwal highlighted the complexity of India's deals with the EU and UK.