Page 7 - India Trade Policy

Defence, trade, tech discussed during foreign secy Misri's visit to US

Foreign Secretary Vikram Misri visited Washington DC from May 27 to 29, where he held a series of high-level engagements with senior officials of the US Administration.Foreign Secretary Misri held wide-ranging discussions with counterparts across the Department of State, National Security Council, Department of Defence, Department of the Treasury, and the Department of Commerce, the Ministry of External Affairs said in a statement.The visit was a follow-up to the Prime Minister's visit to the United States on February 13, during which both sides launched the India-U.S. COMPACT (Catalysing Opportunities for Military Partnership, Accelerated Commerce & Technology) for the 21st Century.Deputy National Security Advisor Pavan Kapoor was also part of the Indian delegation.According to MEA, at a luncheon meeting with Deputy Secretary of State Christopher Landau, both sides reviewed the full spectrum of the bilateral agenda. They underscored that Technology, Trade, and Talent would be .

India's auto duty offer under UK FTA linked to engine, vehicle price quotas

India's duty concession offer for the auto sector under the free trade agreement (FTA) with the UK is "very nuanced" with relaxations and quotas linked to engine capacity and vehicle prices, an official said. India has included adequate safeguards in the agreement with the UK to protect its sensitive sectors and in the automobile segment, the import duty will be reduced over 10-15 years, the official said. "The duty cut and quota depends on engine capacity and price of vehicles. A lot of nuances are there in the auto sector. India's offer to the UK is very nuanced," the official added. India and the UK, on May 6, announced the conclusion of negotiations for the trade pact that will lower tariffs on 99 per cent of Indian exports and would make it easier for British firms to export whisky, cars and other products to India, besides boosting the overall trade basket. The aim is to double the two-way commerce by 2030 from the present USD 60 billion. Tariffs on automotive imports will b

Bustling Petrapole border belies faltering India-Bangladesh trade

Cross-border trade is quietly dwindling amid strained ties between the two neighbours

India's marine exports jump 18% in April amid US tariff clouds

Price escalation due to the baseline tariff of 10 per cent imposed by the US on all exports from India will be adjusted by the market in the next few months, a senior official said

India saw lower spike in the uncertainty index amid Trump's tariffs

Other emerging markets have seen greater volatility

Uber gets CCPA notice for asking users to tip in advance for quicker rides

Union Minister Pralhad Joshi slammed Uber's practice as unethical and exploitative, while the consumer protection body issued a notice to the cab aggregator over the move

Datanomics: Imports of readymade garments from B'desh to suffer amid curbs

As on 31st March 2024, India had 12 operational land ports, out of which 6 were with Bangladesh. Two out of these six - Dawki and Sabroom became operational in 2023 and 2024 respectively

Andean aspirations: Why is India cosying up to Chile for a trade deal?

While both sides have shared trade interests such as agricultural products and services, the elephant in the room is Chiles expansive reserves of critical minerals, key among them being lithium

Bengaluru's wholesale cloth merchants suspend trade with Turkey, Azerbaijan

The Bangalore Wholesale Cloth Merchants Association (BWCMA) has decided to cease all import and export of textiles to and from Turkey and Azerbaijan, with immediate effect, citing their recent "support" for Pakistan in the wake of 'Operation Sindoor'. The BWCMA have declared their unanimous decision in this regard. "This collective action has been taken after careful deliberation and in alignment with our commitment to ethical business practices, national sentiment, and the interests of our trade community. As responsible stakeholders in the textile trade sector, we believe it is essential to take principled stands when necessary," BWCMA President Prakash Pirgal said in a statement. "Accordingly, all our members have agreed to: halt all current and future import of textile goods from Turkey and Azerbaijan, cease all ongoing or planned export activities to these nations, and refrain from engaging in any indirect trade through intermediaries or third-party countries that may involve .

India reviews US push to lift ethanol curbs amid trade deal talks

India is examining a US request to open ethanol imports for fuel use as part of broader trade negotiations, sparking concerns from domestic producers over policy reversal

India's trade gap widens in 'tariff tantrum' month; exports surge 9%

Data released by the commerce department showed in the first month of FY26, exports grew 9 per cent to $38.5 billion while imports shot up by 19.1 per cent to $64.91 billion

India-US trade pact talks moving forward smoothly: Commerce Secretary

India and the US are making steady progress on a bilateral trade deal, with high-level talks scheduled in Washington as both nations explore early wins and deeper economic cooperation

India's trade relations with Turkey, Azerbaijan hit amid Pakistan conflict

India's trade relations with Turkey and Azerbaijan are expected to come under strain due to Ankara and Baku backing Islamabad and condemning India's recent strikes on terror camps in Pakistan. Following their support to Pakistan, calls for Turkish goods and tourism have surfaced across the country, with online travel platforms such as EaseMyTrip and Ixigo issuing advisories against visiting these nations. In fact, Indian traders too have started boycotting Turkish products such as apples and marble. India launched Operation Sindoor on May 7 to destroy nine terror infrastructures in Pakistan and Pakistan-occupied-Kashmir in retaliation for the Kashmir's Pahalgam terror attack on April 22. All subsequent retaliations for Pakistani offensives were carried out under 'Operation Sindoor'. India and Pakistan on Saturday last announced reaching an understanding to stop all firings and military actions on land, air and sea, with effect from 5 pm that day. During the conflict, Pakistan u

No urgency to put retaliatory tariffs on US, says Indian official

India on Tuesday informed the WTO that the safeguard measures by the US would affect $7.6 billion exports by India into the United States

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