Page 6 - India Trade Policy

India's retaliatory tariff plan may strain trade pact talks with US: GTRI

India's proposal to impose retaliatory import duty on certain US products in response to American tariffs on steel and aluminium could cast a shadow over ongoing negotiations for a trade agreement between the two countries, think tank GTRI said on Tuesday. The Global Trade Research Initiative (GTRI) said that if the US engages in consultations with India on the matter or withdraws tariffs, a resolution may be reached. Otherwise, India's retaliatory import duties could take effect in early June, potentially impacting US exporters and deepening trade frictions, it added. In a significant move targeting US safeguard duties on steel, aluminium, and their derivative products, India has formally notified the World Trade Organisation (WTO) of its intention to suspend trade concessions granted to the US. The proposed suspension of concessions could take the form of increased tariffs on selected US products. While India has not disclosed those items yet, in a similar move in 2019, it had ..

India, Chile to begin negotiations for comprehensive trade deal in May

First CEPA negotiation round between India and Chile to begin May 26 in New Delhi aiming to expand the existing PTA and deepen economic cooperation across key sectors

Pahalgam attack: Pakistan shuts ports for Indian ships in tit-for-tat move

In a directive issued by Pakistan's Ministry of Maritime Affairs, Indian flag carriers would no longer be permitted at any Pakistani port

India bans all imports from Pakistan over security, public policy concerns

India issues a commerce notification banning all imports from Pakistan, including indirect or in-transit goods, amid heightened tensions after a terror attack in Pahalgam

Last-mile hurdles keep India-UK FTA elusive despite intense talks

The development follows Commerce and Industry Minister Piyush Goyal's visit to London, where he was on a two-day trip starting Monday

India-US BTA: Officials discuss opportunities for 'early mutual wins'

Chief negotiator and commerce secretary designate Rajesh Agrawal, who headed a team of commerce department officials, held talks with his counterpart in Washington during April 23-25

Commerce secy visits Croatia, Netherlands to boost trade, investment ties

The April 22-26 visit came ahead of Prime Minister Narendra Modi's three-nation Europe tour to Croatia, Netherlands and Norway in May

Indian goods worth $10 bn annually reach Pakistan via third countries: GTRI

Indian goods worth over USD 10 billion are reaching Pakistan every year indirectly through ports such as Dubai, Singapore, and Colombo, bypassing trade restrictions, according to estimates of economic think tank GTRI. Explaining the system, Global Trade Research Initiative (GTRI) said that Indian firms send goods to these ports, where an independent company offloads the consignment and keeps the products in bonded warehouses, where goods can be stored without paying duties while in transit. "In the bonded warehouse, the labels and documents are modified to show a different country of origin. For example, Indian-made goods may be relabelled as 'Made in UAE'. After this change, they are shipped to countries like Pakistan, where direct trade with India is not allowed," GTRI Founder Ajay Srivastava said. This method, he said, helps firms to bypass India-Pakistan trade restrictions; sell goods at higher prices, using the third country route; and avoid scrutiny, since the trade appears to

India won't allow transshipment of goods to other regions: Piyush Goyal

Says govt has been able to protect domestic steel industry from 'dumping'

Trump's tariff war helps India's edible oil prices soften by 7-8%

Sharp drop in crude oil rates over fears of a recession contributed to softening of the global edible oil markets

Serious lack of reciprocity in trade with India: USTR Jamieson Greer

The factsheet said the United States has long recognised significant trade barriers with India

J D Vance nudges India to drop non-tariff barriers for US businesses

While Trump has been labelling India as a high tariff nation and a 'tariff king', Vance refrained from using such words against India

India should restore soybean exports to US in bilateral trade talks: SEA

India should prioritise reviving exports of organic non-GMO soybean and soybean meal to the United States during ongoing Bilateral Trade Agreement (BTA) negotiations, industry body Solvent Extractors Association (SEA) said on Monday. India previously exported 150,000-200,000 tonnes of organic, non-GMO soybean products to the US before safeguard duties imposed after opposition from domestic US producers effectively halted this trade, according to SEA. "It is essential that the Ministry of Commerce pursues the revival of these exports as part of the ongoing BTA discussions," SEA President Sanjeev Asthana said in a statement. The two countries are currently negotiating a bilateral trade agreement that includes discussions on key agricultural commodities such as soybean and maize. SEA also raised concerns about non-standardised packaging of edible oils following regulatory changes in 2022, saying varied pack sizes like 800 gram, 810 gram and 850 gram have created consumer confusion and

The forgotten consumer: How trade policy ignores the largest interest group

Trade policy, whether in the US or India, is made without taking the largest interest group into account

India draws up blueprint to reduce over $40 billion trade surplus with US

Govt nudges industry stakeholders to raise imports from Washington

Trade war 2.0: Why India must seize its global value chain opportunity now

As US-China tensions reshape global trade, India must reform tariffs, boost ease of doing business, and strike strategic FTAs to attract investment

India set to become trusted bridge of connectivity via IMEC: Piyush Goyal

Goyal said that the IMEC is a powerful endorsement of the leadership and partnership of India, Middle East and East Europe

Smartphones ring loudest in Indian exports: Shipments' value reaches $18 bn

In the corresponding period of the previous financial year (FY24), smartphones ranked fourth among HS-coded exports, behind automotive diesel fuel, aviation turbine fuel, and diamonds

Make in India to make India stronger: Trade policies, strategy must align

Free trade, based on the theory of competitive advantage, benefits everyone in the long run

India's trade gap widens in March as Trump roils markets with tariff war

The gap between exports and imports stood at $21.54 billion last month, the trade data showed Tuesday