Page 3 - India Trade Policy

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

Qatar wants to negotiate trade pact with India, says Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Friday said Free Trade Agreement (FTA) with Oman will be finalised soon, and Qatar also wants to negotiate a pact with India. He also assured exporters of all support to deal with the current global uncertainties at the trade front, which was caused due to unilateral actions of a country. The government is in consultation with all the stakeholders, including Indian Missions abroad, for diversification of exports, he said. He added that domestic consumption will get a boost from GST reforms. "Our exports this year will be higher than last year," Goyal said at an event here. India's share in global trade is only about 2 per cent, and about 40 per cent of items of the total exports to the US are out of the ambit of 50 per cent tariffs, so the impact will be less. Free Trade Agreement with Oman "will be finalised soon," he said, adding "Qatar also wants to do a trade agreement", and Saudi Arabia is also keen. Goyal added that talks with

Wide ranging, creative policy reforms needed to counter US trade shock

Wide ranging policy reforms are needed to counter American trade shock

US tariffs: Bracing for pain, exporters cling to trade deal hopes

Workers, small business owners fear loss of livelihood as factories reduce operational hours amidst cancelling of orders

Tariff trials: India needs to diversify markets, increase competitiveness

Since the US accounts for nearly one-fifth of India's exports, the consequences for exporters are severe

Trump's 50% tariffs take effect today: Which sectors are in firing line?

The Donald Trump-led US administration links the 50% duty to India's Russian oil imports; sectors from textiles to seafood brace for impact

Biostimulant Industry Federation urges govt action on trade barriers

The National Biostimulant Industry Federation (NBIF) on Sunday called for urgent government intervention to address regulatory bottlenecks in the domestic market and high tariffs abroad, which are hampering the sector's growth potential. NBIF urged the Prime Minister Narendra Modi's office to coordinate reforms across key ministries to support an industry valued at Rs 40,000 crore and comprising over 5,000 small and medium enterprises. Indian biostimulant exporters face tariffs of 15-28 per cent in key global markets, along with non-tariff barriers, including origin-specific efficacy trials and residue testing requirements, NBIF said in a statement. The absence of mutual recognition agreements with major trading blocs, like the European Union and ASEAN, compounds these challenges. Domestically, the industry is grappling with regulatory ambiguity and delays in product approvals under India's Fertiliser Control Order, with no dedicated testing protocols for natural substances like ..

India, Russia seek to increase trade to $100 billion as US ties fray

Indian External Affairs Minister Subrahmanyam Jaishankar said Wednesday during a visit to Moscow that the two countries must remove trade bottlenecks and reduce non-tariff barriers

India-West Asia undersea cable allows large trade: ISA DG Ashish Khanna

Khanna stressed that OSOWOG would help countries diversify their energy mix, particularly smaller economies that remain dependent on diesel

Turbocharging India: Assuming global economic leadership

Higher tariffs could render many Indian products uncompetitive in US markets and bring unfavourable repercussions to the domestic economy

India facing tough choices in responding to steep Trump tariffs: GTRI

India is facing tough choices in responding to steep US tariffs - from negotiating or retaliating to diversifying export markets or offering trade concessions like ending Russian oil imports - but each option carries its own mix of benefits and risks, think tank GTRI said on Friday. The Global Trade Research Initiative (GTRI) said that India marks its Independence Day this year under the shadow of a bruising trade confrontation with Washington. The Trump administration's decision to slap a 50 per cent country-specific tariff on most Indian goods, on top of existing most favoured nation duties, has thrust India into a strategic dilemma that could reshape its trade, energy, and diplomatic positioning. "For New Delhi, the choices ahead are stark - negotiate, retaliate, diversify markets, or trade concessions such as ending purchases of Russian oil for tariff relief. Each option carries a different mix of gains and risks," GTRI Founder Ajay Srivastava said. He added that India will ...

Trump's 50% trade tariff threatens India's manufacturing ambitions

Trump's move would give India the highest tariff rate in Asia, threatening a manufacturing sector that Prime Minister Narendra Modi has spent a decade trying to build

US links India tariff hike to 'national security' over Russian oil imports

White House Trade Adviser Peter Navarro links extra 25% tariffs on India to its refusal to stop buying Russian oil, calling it a national security threat amid ongoing US-India trade tensions

US tariffs could threaten $30 billion in Indian electronics exports

Semiconductor duties, exclusion of non-smartphone items from exemptions likely to derail electronics $80 billion export targets