Page 17 - Trade

Efforts on to balance India-Japan trade by boosting exports: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Friday said efforts are underway to balance bilateral trade between India and Japan by increasing exports. India's exports to Japan during April-January this fiscal rose by 21.12 per cent to USD 5.1 billion, while imports grew by 9.1 per cent to USD 15.92 billion, leaving a trade deficit of USD 10.82 billion in favour of Japan. In 2023-24, the country's export to Japan was USD 5.15 billion and imports were USD 17.7 billion. The trade gap was USD 12.55 billion. "Efforts are being made to balance trade between India and Japan, with a focus on increasing Indian exports to ensure reciprocal benefits," the commerce ministry said in a statement quoting the minister. This was stated by Goyal in his keynote address at the India-Japan Economy and Investment Forum. He also invited Japanese firms to increase collaboration in areas such as green energy, renewable energy, high-tech manufacturing of semiconductors, electronic goods, and artificial

Govt's electronics export goal faces US President Trump's tariff wall

The US is the largest market for India's electronics exports, accounting for 33 per cent of the total as of 2023-24 (FY24)

Govt readies steps ahead of likely bilateral trade deal with the US

Engaging with various departments, apprising them of sector-specific dynamics

India, Qatar upgrade ties, aim to double bilateral trade to $28 bn in 5 yrs

Bilateral talks held by Prime Minister Narendra Modi with Al-Thani on Tuesday focused on trade, investment, and energy, the Ministry of External Affairs (MEA) said

Industry body calls for broken rice exports as stocks hit nine times target

India banned exports of 100% broken rice in September 2022 and then imposed curbs on exports of all other rice grades in 2023 after poor rainfall raised concerns over production

Proposed India-US BTA: US may ask for more access to agri products, ethanol

"The US will ask for major concessions in dairy and agri products, ethanol and removal of price control on medical devices.'' a former senior commerce ministry official said

US President Trump moves to impose reciprocal tariffs as soon as April

"India has more tariffs than nearly any other country," says US President Donald Trump

January smartphone exports top full-year total of FY21, shows data

Minister for Electronics and Information Technology Ashwini Vaishnaw recently posted on X that smartphone exports for 2024-25 are likely to reach ₹2.25 trillion

We guide Switzerland SMEs into Indian market: Swiss State Secretary

Once a government signs a deal with another government, in democracies such as India and the EFTA countries, you have to go through ratification in Parliament and or sometimes its Cabinet

PLI scheme fuels iPhone exports, but gaps remain in manufacturing

India's PLI scheme, particularly in electronics and smartphones, has proved successful in boosting domestic manufacturing and seamlessly aligning with the country's export ambitions

India's natural gas consumption to rise 60%, imports double by 2030: IEA

Expanding city gas distribution, rising compressed natural gas infrastructure behind rise

The illusion of decoupling from China: Costly trade barriers vs engagement

The G7 economies have continued to run massive trade deficits with China, a key issue in US presidential elections

AI-powered trade revolution: Opportunities and challenges for India

AI is transforming global trade, offering opportunities and challenges. India must adapt its policies, leveraging AI for export growth and addressing regulatory issues

Want free trade? May I introduce you to the tariff-driven reality

Free trade is a myth-not because it doesn't work, but because it doesn't exist. This is why democratic governments should come together and create a new trade regime to enforce balance

Govt trying to evaluate impact of US duties on certain countries: Report

India is likely to analyse with the domestic industry the impact of tariffs announced by the US on countries like China to assess the positive or negative implications, if any, sources said on Thursday. Though the duties on China are expected to help increase exports from India to the US due to the duty arbitrage, there could be a possibility of dumping of goods from the neighbouring country as it has excess capacity in almost every sector. India has imposed anti-dumping duties on several goods, including chemicals imported from China, and a number of anti-dumping investigations are going on. "We are trying to analyse the announcements made by the US on increasing tariffs. We will take the decision in due course. We are also asking our industry how these tariffs are going to affect them positively or negatively. We are looking at the exact items on which tariffs will be imposed in China," they said. They added that India was the fourth-largest gainer when the US imposed higher duti

Govt likely to flag deportation by US military aircraft during Modi's visit

Discussions between the two sides will also cover the entire gamut of issues from trade, energy security to increased security cooperation, sources said

India open to revive US trade deal talks during PM Modi's upcoming visit

Inter-departmental meetings being held to identify key trade-related proposals

Pakistani exports become uncompetitive after govt doubles gas prices

Pakistani exports have become uncompetitive after the government doubled gas prices for in-house power generation by factories, endangering the target of a three-year goal of increasing exports to USD 60 billion, according to a business body. The Pakistan Business Council (PBC) informed Prime Minister Shehbaz Sharif on Tuesday about the development through a letter, the Export Tribune reported. In a paradoxical situation, the miseries of industries are apparently an achievement for the government that has met an International Monetary Fund (IMF) loan condition to either make gas unaffordable for in-house power generation or completely cut it off, the paper reported. The government has chosen the first option, which became the reason for the PBC a representative body of manufacturers to write a letter to the prime minister, reporter the paper. "Your USD 60 billion export target by 2027 is unlikely to be achieved. The competitiveness of manufacturing for the domestic market, which

Centre vows to avoid protectionist signals on trade: Finmin official

India has been trying to placate the Trump administration after it accused the South Asian nation of maintaining very high tariffs that hurt prospects for American firms

Track and Trace Mechanism to aid in curbing illicit trade: Tobacco industry

The introduction of a "track and trace mechanism" for certain goods announced in the Union Budget 2025-26 will assist in controlling the menace of illegal trade, especially in cigarettes, and help the industry grow, tobacco industry said on Saturday while welcoming the proposed changes. Finance Minister Nirmala Sitharaman in her Union Budget on Saturday proposed to amend the Central Goods and Services Tax Act, 2017, enabling a mechanism for 'Track and Trace', aimed at curbing tax evasion in high-risk commodities. "The proposed amendments in The Central Goods and Services Tax Act, 2017, enabling a mechanism for Track and Trace, will help in controlling the illicit cigarette trade in the country, thereby helping the enforcement agencies to take corrective action against the perpetrators of this crime," Tobacco Institute of India (TII) said in a statement. This will also help the 'legal industry' to gain from the illicit market, said TII which represents farmers, manufacturers, exporte