Page 2 - India Trade Policy

Taking stock of US shutdown impact on trade talks, says Piyush Goyal

Commerce Minister Piyush Goyal says clarity on India-US trade negotiations is expected within a week; highlights export resilience and fintech leadership at GFF 2025

India must have strong trade ties with neighbours including China: NITI CEO

India should have strong trading arrangements with its neighbours including China, which is a USD 18 trillion economy that cannot be avoided, NITI Aayog CEO BVR Subrahmanyam has said. Subrahmanyam also indicated that after GST 2.0, another set of reforms is expected to be announced before Diwali. He said NITI Aayog member Rajiv Gauba-led committee has already submitted its first set of reports on these reforms. He further said that while the entire European Union trades 50 per cent within itself, Bangladesh is India's 6th biggest trading partner and Nepal used to be in the top 10, stressing on the need to increase trade with neighbouring countries. "It is a misfortune that we are in a very difficult geography. Who are the biggest trading partners of the US? Mexico and Canada. It is natural. If you do not have strong neighbourhood trading arrangements, you actually are at a disadvantage...If you are competitive, they will buy your stuff," he said. Responding to a question on lifting

Need sharper trade focus on Asia, neighbours: NITI CEO B V R Subrahmanyam

Says no sector should be protected and markets need to be opened up globally

NITI Aayog CEO confident of early India-US trade pact, urges lower tariffs

NITI Aayog CEO BVR Subrahmanyam on Monday exuded confidence that a trade agreement would be concluded between India and the US soon, as both countries are committed to having a mutually beneficial bilateral trade pact. Subrahmanyam also said that India should lower tariffs and non-tariff barriers and open its markets to improve competitiveness in manufacturing. "So the good thing is, both sides are still committed to having a trade deal. So negotiations happened last month, so I think both sides are hopeful," he told reporters while launching 'Trade Watch Quarterly' here. The ties between New Delhi and Washington have come under severe stress after US President Donald Trump doubled tariffs on Indian goods in August to 50 per cent, including an additional 25 per cent duty on India's purchase of Russian crude oil. India had described the US action as "unfair, unjustified and unreasonable". Asked to comment on the impact of a whopping 50 per cent tariffs on Indian goods, Subrahmanyam

India's trade hurdle: Bureaucrats unchecked, entrepreneurs unheard

The entrepreneur filed her shipping bill for export of certain goods she had been exporting for years

India, EU to begin next round of trade talks from Monday in Brussels

Senior officials of India and the 27-nation European Union (EU) will commence the next round of talks for a proposed free trade agreement on Monday in Brussels to iron out differences on issues for early conclusion of the negotiations, an official said. This will be the 14th round of negotiations between the two sides. The five-day talks will begin on October 6, the official said. Commerce and Industry Minister Piyush Goyal has recently expressed hope that the two sides will sign the agreement soon. The pact aims at boosting two-way commerce and investments. Goyal is also likely to meet EU Trade Commissioner Maros Sefcovic in South Africa later this month to review the progress of talks, as the deadline to conclude the negotiations is December. Sefcovic and the European Commission's Agriculture Commissioner Christophe Hansen were here last month to review the progress of talks with Goyal. Both sides have targeted to conclude negotiations by December. In June 2022, India and the

Next round of talks on proposed trade pacts with Chile, Peru in Oct, Nov

The next round of negotiations between India and two South American countries, Chile and Peru, will be held in October and November, respectively, an official said. The five-day talks with Chile will start on October 27 in Santiago, the three-day deliberations with Peru will begin on November 3 in Lima, the official said. Both agreements are being negotiated separately. India is set to hold its second round of trade talks with Chile and the eighth round of negotiations with Peru. India and Chile implemented a preferential trade agreement (PTA) in 2006 and are now negotiating to widen its scope for a comprehensive economic partnership agreement (CEPA). CEPA aims to build upon the existing PTA between the two nations and seeks to encompass a broader range of sectors, including digital services, investment promotion and cooperation, MSMEs (micro, small and medium enterprises), and critical minerals. The bilateral trade between India and Chile is modest. In 2024-25, India's exports t

India, Japan, Australia need alliance to counter major economies: Suzuki

An alliance of 'middle-power' countries will mean that these economies work together to ensure they are self-reliant among themselves and have a trusted network, he said

Putin orders his govt to address India's trade imbalance concerns

Ahead of the India-Russia summit, President Putin directs ministers to resolve trade imbalance, ease barriers for Indian exports and strengthen private sector ties

Govt lifts export ban on de-oiled rice bran to support cattle feed industry

The government on Friday announced the lifting of the export ban on de-oiled rice bran, used in the cattle feed industry. Edible oil industry body SEA had earlier urged the government to lift the ban on exports to protect domestic processors and enhance farmers' income. "The export policy of de-oiled rice bran is hereby amended from prohibited to free with immediate effect," the Directorate General of Foreign Trade (DGFT) said in a notification. The ban was imposed last year. In a separate notification, the DGFT said exports of agricultural commodities like dairy goods, onions, potatoes, certain vegetables, rice, and wheat, to Bhutan are exempted from applicable restrictions and prohibitions, with immediate effect and until further orders. Bhutan is India's friendly neighbour. These exemptions are also on other commodities, including tea, soybean oil, groundnut oil, palm oil, animal, vegetable fats and oils, Cane or beet sugar, and salt. In another notification, the DGFT said th

RBI extends MTT payment timeline to six months, eases compliance rules

RBI extended the merchanting trade payment timeline to six months from four and simplified reconciliation rules for small exporters and importers to ease compliance burden

India boosts ties with SICA nations; focus on trade, digital payments: EAM

Over the past decade, India's relations with SICA countries have seen a marked improvement, and Jaishankar acknowledged this growing cooperation

EU looks east: Why India must seize the moment to clinch its FTA deal

The European Union has shown flexibility in its FTA policy. India must capitalise

India expects to increase energy trade with US, says Piyush Goyal

India expects to increase its trade with the US in energy products in the years to come, and the country's energy security goals will have a significant element of US involvement, Commerce and Industry Minister Piyush Goyal has said. "Clearly, the world recognizes that (energy security) is one area where we all have to work together. India is a big player in the energy field... we are big importers of energy from across the world, including from the US," Goyal said here on Tuesday. Goyal delivered the keynote address at an event, 'Energy Security in a Shifting Global Landscape: Building Resilient Energy Markets Across Borders' hosted by the Consulate General of India in New York, US-India Strategic Partnership Forum (USISPF), and India's leading decarbonisation solutions provider, ReNew. "We expect to increase our trade with the US on energy products in the years to come. And being close friends, natural partners, our energy security goals will have a very high element of US ...

India, Oman set to ink CEPA trade pact soon as talks conclude: Oman's Envoy

India and Oman are set to sign the Comprehensive Economic Partnership Agreement (CEPA) "very soon" with both nations eyeing diversification of their trade basket to include more commodities and exchange of services, the country's Ambassador to India Issa Saleh Abdullah Saleh Alshibani said. In an interview to PTI, Oman's Ambassador to India said negotiations have concluded and currently the legislative and administrative processes are in motion. "Hopefully... we will reach a stage of signature very soon," he said in response to a question related to the expected timeline for signing of the agreement. Talks for the agreement, officially termed as CEPA, formally began in November 2023. In such agreements, two trading partners significantly reduce or eliminate customs duties on a maximum number of goods traded between them. They also ease norms to promote trade in services and attract investments. On the impact in terms of bilateral trade after signing of the CEPA, the Oman Ambassad

India's exports to US dip as Trump tariffs erode competitiveness: GTRI

India's exports to the US are falling as high tariffs imposed by the Trump administration have started eroding the price competitiveness of domestic goods in Washington, think tank GTRI said on Wednesday. August shipments to the US plunged to USD 6.7 billion, down 16.3 per cent from July -- the steepest monthly fall of 2025 -- as US duties doubled to 50 per cent by month's end, it said. In July, exports dipped 3.6 per cent to USD 8 billion over June. The month of June had also seen a decline of 5.7 per cent to USD 8.3 billion over May. May 2025 was the last month of growth, as shipments to the US rose 4.8 per cent over April to USD 8.8 billion. In April, exports to the US stood at USD 8.4 billion. "The slide in exports closely tracks the rapid escalation of tariffs," Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said. Until April 4, Indian goods entered the US at normal MFN (most favoured nation) rates. From April 5, Washington imposed a universal 10 per cent tar

Govt clears ships for Nayara fuel supply, dollar trade limits remain

Indian authorities have cleared EU-sanctioned Nayara Energy to use four foreign-flagged ships for coastal transportation of fuels such as petrol and diesel within the country, but its non-Russian overseas trade remains stalled due to the unavailability of banking channels. The Directorate General of Shipping has approved four foreign-flagged ships being used for the coastal movement of fuel produced by Nayara and efforts are being made to resolve the stalled dollar trade, government officials said. Nayara Energy did not reply to an email sent for comments. Nayara's Vadinar Refinery in Gujarat makes about 8 per cent of all fuel consumed in the country. Most of this was shipped from Gujarat to key consumption hubs along the west coast, reaching as far as Odisha on the east. This supply route was disrupted after the European Union in July imposed sanctions on Nayara. Shipowners wary of attracting secondary EU sanctions halted lifting of products from the Vadinar refinery. Shipping ...

Paths forward for trade: Even contentious issues can be resolved

While it is vitally important that the interests of key strategic and sensitive sectors are kept in mind, it is also necessary to identify mechanisms by which some sort of compromise might be achieved

'We get along with India very well,' says Trump, but calls trade one-sided

Trump maintained that India imposed duties of up to 100 per cent on various goods, which discouraged US firms from exporting there

India holds informal talks with US, rules out retaliation for now

While talks on a bilateral trade deal have been postponed, the two countries continue to communicate on critical issues, including defense and foreign policy