Page 5 - India Trade

India's trade talks with the US face new test as EU deal shows major gaps

As the White House and European Commission offer starkly different versions of their trade pact, it gives India's negotiators ample reason to be alarmed

US-Indonesia trade deal shows risks of pressure, India must be wary: GTRI

The US-Indonesia trade pact reflects how Washington's pressure tactics can compel countries to cut tariffs, commit to large purchases, and loosen regulatory control, and India should tread cautiously in ongoing trade talks to avoid similar concessions, economic think tank GTRI said on Wednesday. Indonesia gave up far more than it gained, removing 99 per cent of its tariffs on US goods, agreeing to buy USD 22.7 billion in American products, and weakening important rules that protected its industries, food safety, and digital space, the Global Trade Research Initiative (GTRI) said. "India now faces similar US demands, including allowing remanufactured goods, opening up agriculture and dairy, accepting genetically modified (GM) feed, and adopting US rules on digital trade and product standards," GTRI Founder Ajay Srivastava said. He added that accepting American standards on cars, medical devices, or food, without any guarantee of reciprocity, would put India's consumers at ...

Electronics exports up 47% in April-June quarter, led by US, UAE, China

The Netherlands and Germany are other major export destinations for the country's electronics exports

India sees $52.3 bn services surplus in Q3 FY25; offsets goods deficit

NITI Aayog's Trade Watch report cites strong growth in IT, consulting, and R&D services exports in the October-December 2024 quarter, helping offset the widening merchandise trade deficit

Trade agreement between India, four-nation EFTA to kick in from Oct

Deal with European bloc was signed in March 2024; it's projected to get India $100 bn foreign direct investment

India-Canada interim trade deal back on the table after 2 years of tensions

After two years of strained diplomatic relations, as India and Canada look to iron out creases, the interim trade deal is back on the table

India may soon finalise US trade deal, but must tread carefully: GTRI

India could be among the countries expected to finalise a trade deal with the US soon, as President Donald Trump steps up pressure by issuing formal tariff letters to several nations, but New Delhi must tread carefully, economic think tank GTRI said on Tuesday. "Trump's model isn't a free trade agreement, it's a YATRA - Yielding to American Tariff Retaliation Agreement," the Global Trade Research Initiative (GTRI) said. The US has extended the deadline for countries to finalise bilateral trade deals with the US from July 9 to August 1, giving a final three-week window before sweeping country-specific tariffs come into force, it added. The extension is part of a broader trade offensive launched on April 2, when Trump identified about 60 countries for special tariffs unless they signed new deals aligning with American trade interests. So far, only the United Kingdom and Vietnam have complied. A temporary ceasefire deal with China is also in place. "Now, Trump is escalating the press

Active negotiations under way with over a dozen countries to finalise BIT

India is actively negotiating bilateral investment treaties (BITs) with over a dozen countries, including Saudi Arabia, Qatar, Israel, Oman, European Union, Switzerland, Russia, and Australia, a government official said. Besides these nations, talks are underway with Tajikistan, Cambodia, Uruguay, Maldives, Switzerland, and Kuwait. These investment treaties help in protecting and promoting investments in each other's countries. With India approaching to become the third-largest economy and a hub for global manufacturing, the government is taking a series of measures to further improve its investment regime that encourages investors. "It is expected that in the next 3-6 months, BIT with some of these countries will be finalised and announced," the official added. The government in the last Budget has announced revamping the current model Bilateral Investment Treaty to make it more investor-friendly and attract foreign players. The country signed BITs with two countries in 2024. La

Govt may allow GM animal-feed imports from US in proposed trade deal

Indian and US officials have been engaged in intense negotiations over last few days to iron out differences in a bid to secure a deal before a July 9 deadline

Govt to meet stakeholders to assess impact of Iran-Israel conflict on trade

The commerce ministry on Friday will meet stakeholders, including shipping lines, exporters, container firms, and other departments, to assess the impact of the Iran-Israel conflict on India's overseas trade and address related issues, an official said. The industry official said that the meeting will be chaired by Commerce Secretary Sunil Barthwal. "The meeting is today. We will raise issues related to freight rates," the official said. Barthwal has earlier stated that India is keeping a close watch on the situation. Exporters have stated that the war, if escalated further, would impact world trade and push both air and sea freight rates. They have expressed apprehensions that the conflict may impact the movement of merchant ships from the Strait of Hormuz and the Red Sea. Nearly two-thirds of India's crude oil and half of its LNG imports pass through the Strait of Hormuz, which Iran has now threatened to close. This narrow waterway, only 21 miles wide at its narrowest point, h

India's trade with GCC in focus amid Iran-Israel ongoing conflict

India's trade with West Asia is crucial, considering that apart from Russia, it imports crude oil from Iraq, United Arab Emirates (UAE) and Saudi Arabia

Tangled trade ties: US-China agreement offers little hope of breakthrough

For other trading partners, the US-China deal, as it currently stands, suggests that tariffs would settle at significantly higher levels than before the announcement of the so-called reciprocal tariff

India to restore tax refund benefits for exporters from June to boost trade

The benefits under the Remission of Duties and Taxes on Exported Products were introduced on January 1, 2021, but ended on February 5 this year

US has $35-40 bn surplus with India when services, arms included: GTRI

The US, despite reporting a USD 44.4 billion trade deficit with India, runs a USD 35-40 billion overall surplus when revenues from education, digital services, financial activities, royalties, and arms trade are factored in, economic think tank GTRI said on Monday. It said for India, this means it has every reason to walk into free trade agreement negotiations with confidence, pushing back hard against inflated deficit claims and demanding fair, balanced terms that reflect the full economic relationship, not just a narrow, cherry-picked slice of the ledger. In 2024-24, the US has recorded a trade deficit of about USD 44.4 billion with India, which means Washington has imported far more goods and services from India than it exported. US President Donald Trump has on multiple occasions highlighted this gap, accusing India of unfairly benefiting from trade. Washington is also using the deficit figures to push India to unilaterally lower tariffs and open its market further, the Global

Indian tyre companies draw up road map to steer through tariff jitters

Despite low US exposure, Indian tyre makers are crafting mitigation strategies to address looming tariff threats and persistent margin pressures due to high input costs

Govt to launch digital platform for trade remedy document submissions

The government is developing a digital platform to enable the electronic submission of documents in trade remedy investigations with a view to further promoting transparency, efficiency, and ease of access for all stakeholders, an official statement said on Saturday. These investigations are carried out by the commerce ministry's arm Directorate General of Trade Remedies (DGTR). Since 1995, India has initiated over 1,200 trade remedy investigations and recent interventions have protected domestic sectors including solar energy and advanced materials, such as solar cells and copper wire rods, from unfairly priced imports and subsidized goods. "Looking ahead, the government is developing a digital platform to enable the electronic submission of documents in trade remedy investigations," the commerce ministry said in the statement. The platform is expected to go live soon, offering enhanced transparency, efficiency, and ease of access for all stakeholders, it said. The main objective

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

Delivery-based trades moderate in April after hitting eight-year high

Market volatility typically influences delivery-based trading volumes, according to experts

Pahalgam attack: Delhi trade associations to observe bandh on Friday

Trade associations of Delhi have called for a "complete shutdown" of markets in the national capital on Friday in protest against the terror attack in Pahalgam, CAIT said on Thursday. "The brutal terrorist attack in Pahalgam, which claimed the lives of innocent citizens, has caused deep sorrow and anger among the trading community. As a mark of tribute to the deceased and in strong solidarity with the government, leading trade associations of Delhi have called for a complete shutdown of markets in Delhi on 25 April," CAIT said. The Confederation of All India Traders (CAIT) said it fully supports this call and appeals to traders across Delhi to voluntarily keep their establishments closed and observe the bandh peacefully. CAIT has also requested the Delhi Police and administrative authorities to maintain law and order during the bandh and ensure a peaceful environment across all marketplaces.

India-UK trade deal: Indian team may visit London to fix pending issues

India and the UK are trying to speed up discussions on the trade agreement amid fast-changing geopolitical landscape and America's protectionist trade policies