Page 4 - Trade

RBI announces measures to facilitate cross-border trade transactions

Banks in India and their overseas branches have been permitted to lend in Indian Rupees to persons resident in Bhutan, Nepal, and Sri Lanka to facilitate cross-border trade transactions, the Reserve Bank said on Monday. The RBI said amendments have been made to the Foreign Exchange Management (Borrowing and Lending) Regulations, 2018 and Foreign Exchange Management (Foreign currency accounts by a person resident in India) Regulations, 2015, as part of continuous efforts towards facilitating external trade and payments'. "AD (authorised dealer) banks in India and their overseas branches have been permitted to lend in Indian Rupees to persons resident in Bhutan, Nepal, and Sri Lanka, including banks in these jurisdictions, to facilitate cross-border trade transactions," it said. In January 2025, the RBI permitted Indian exporters to open foreign currency accounts with a bank outside India for the realisation of export proceeds. Unutilised balances in these accounts are required to be

US retailers brace for impact as Trump's additional 100% China tariffs loom

The tariff threat could prompt a "pull-forward of shipments" as retailers try to beat implementation timelines, said Blake Harden, managing director at Washington Council EY

India, US to hold trade talks as New Delhi seeks higher energy imports

The official, speaking on condition of anonymity, due to the sensitivity of the issue, said India was looking to increase purchases of energy and gas from the US

India-EU trade pact talks progressing; steel, auto issues need resolution

Negotiations for the proposed free tarde agreement between India and the EU are progressing well, but differences still need to be ironed out in certain areas such as steel, automobiles and non-tariff barriers, a senior official said on Monday. Senior officials from India and the 27-nation European Union (EU) last week concluded the 14th round of talks for the agreement in Brussels. The five-day talks began on October 6 to iron out differences on different issues related to goods and services for the early conclusion of the negotiations. "Talks are progressing well. There are issues which need resolution such as steel and automobiles. No major issue is pending in agri," the official said. The Indian negotiators were later joined by Commerce Secretary Rajesh Agrawal in the closing days of the round for providing a push to the negotiations. Agrawal held discussions with European Commission Director General for Trade Sabine Weyand during the visit. The official also said Commerce an

India, EU conclude 14th round of talks for free trade agreement in Brussels

Senior officials of India and the 27-nation European Union (EU) concluded the 14th round of talks for a proposed free trade agreement in Brussels, an official said. The five-day talks began on October 6 to iron out differences on different issues related to goods and services for the early conclusion of the negotiations, the official said. The Indian negotiators were later joined by Commerce Secretary Rajesh Agrawal in the closing days of the round for providing a push to the negotiations. Agrawal held discussions with European Commission Director General for Trade Sabine Weyand during the visit. Commerce and Industry Minister Piyush Goyal recently expressed hope that the two sides will sign the agreement soon. The minister is also expected to visit Brussels to meet his EU counterpart Maros Sefcovic to review the progress. Both sides have targeted to conclude negotiations by December. In June 2022, India and the EU bloc resumed negotiations for a comprehensive FTA, an investment

Sergio Gor meets commerce secy Rajesh Agrawal amid trade agreement talks

Sergio Gor discusses economic cooperation with Commerce Secretary Rajesh Agrawal in New Delhi as both sides work to resolve tariff issues and boost investment

India dials up record smartphone exports; shipments touch $13.4 bn in H1

Shipments touch $13.4 bn in H1FY26, powered by iPhone; September exports to US treble

India-UK joint panel to oversee to oversee trade deal implementation

"Meeting marked significant step towards operationalising CETA, with both ministers agreeing to reposition Joint Economic and Trade Committee to oversee implementation and delivery," dept said

Protection for industry must come with performance obligations: CEA

Speaking at a seminar by CareEdge, Nageswaran stressed the need for an industrial policy focused on productivity and performance

British PM Keir Starmer in India: Meet with PM Modi, trade deal, and more | India-UK relations

British Prime Minister Keir Starmer is in India for a two-day visit, his first since taking office. Watch the video to know what's on the agenda.

India-US continue dialogue to finalise bilateral trade pact by Nov: Goyal

India and the US are in continuous dialogue on the proposed bilateral trade agreement, and all possibilities are there to meet the November deadline for concluding the talks, Commerce and Industry Minister Piyush Goyal said on Tuesday. On the possibility of the next round of trade negotiations in a physical mode, he said that every possibility exists, but with the US government currently in shutdown mode, it remains to be seen how, where, and when the next round of talks can take place. "Aap sub jante hain ki USA me aaj-kal government shut down mode me hai, toh uske maddenazar dekhna padega ki kaise baat-cheet ho sakti hai, kahan ho sakti hai, aur kab ho sakti hai (As you all know, the US government is currently in shutdown mode. So, keeping that in mind, we'll have to see how, where, and when the discussions can take place)," he told reporters here. The US government has stopped working since midnight on October 1 as Congress failed to pass a funding bill. Theoretically, this means

Leading FMCG companies witness disruption in trade in September

Leading FMCG companies have reported disruption in trade in September on account of implementation of new GST slabs, which in turn impacted revenue and profitability in the second quarter. Major players including HUL, Dabur and Marico, continued their momentum in July and August with a stable demand trends. However, in September, they had to absorb the transitory impact of disruption in trade channels on account of GST reforms and one of them expects the impact to drag in October. According to them, the consumers had deferred their purchase after the government announced the Next-Generation (GST 2.0) reforms on September 4, lowering duties on most daily essentials, including food and personal care products. The FMCG companies expect growth in the second half of the fiscal year, helped by stabilisation of prices and stimulation in demand from the lowering of duties. Moreover, they also expect sentiment to gradually improve during the festive season and months ahead, aided by easing

SC upholds trade tax on ink, chemicals used in printing lottery tickets

The Supreme Court on Tuesday upheld the levy of trade tax on ink and processing materials used by a firm in printing lottery tickets, while deciding an over 25-year-old matter. A bench comprising Justices J B Pardiwala and K V Viswanathan held that ink and processing materials used in printing lottery tickets form part of the goods transferred in the execution of a works contract under Section 3F of the Uttar Pradesh Trade Tax Act, 1948. The verdict came on an appeal of Ghaziabad-based printing company, M/s Aristo Printers Pvt Ltd, against a 2010 verdict of the Allahabad High Court which had allowed the revenue department's revision petitions and restored the tax demand. The firm undertook printing of lottery tickets using paper supplied by its clients and procured its own ink, processing chemicals and other materials for carrying out the printing work. The Trade Tax Officer, Ghaziabad, had in assessment orders dated October 28, 1999, levied trade tax on the value of ink, chemicals

India, Qatar likely to finalise trade pact by third quarter of 2026: Goyal

India and Qatar will soon finalise the contours to negotiate a free trade agreement and the pact is expected to be concluded by the middle or third quarter of next year, Commerce and Industry Minister Piyush Goyal said on Monday. The minister is here for a two-day visit. He is leading a business delegation to increase trade and investments between the two countries. "I would think that sometime by the middle of next year, or third quarter of next year, we will be able to finalise an FTA (free trade agreement), if not earlier," he told reporters here. Qatar is an important trading partner of India in the Gulf Cooperation Council (GCC) with bilateral trade of over USD 14.15 billion in 2024-25. GCC members are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE). India already has a trade pact with the UAE. A similar deal is likely to be signed with Oman soon. Goyal said that he held discussions with Sheikh Faisal bin Thani bin Faisal Al Thani, Minister of

India-EFTA agreement kicks in, Goyal says deal offers predictability

This is also India's first trade agreement with any European nation or bloc coming into effect

DGTR initiates probe into import of solar cell component from China

The Commerce Ministry's arm DGTR has initiated an anti-dumping probe into the import of a solar component and mobile covers from China, following complaints by RenewSys India and All India Mobile Cover Manufacturer Association. The applicant has alleged that the industry is impacted due to the dumped imports of "Solar Encapsulants, excluding EVA Encapsulants" from China. The item is used in the manufacturing of solar PV modules. "The authority, hereby, initiates an anti-dumping investigation to determine the existence, degree and effect of the dumping," DGTR said in a notification on Monday. If it is established that the dumping has caused material injury to domestic players, the DGTR would recommend the imposition of the levy on imports. The finance ministry takes the final decision to impose duties. Anti-dumping probes are conducted by countries to determine whether domestic industries have been hurt because of a surge in cheap imports. As a countermeasure, they impose these d

Trade shows to be held in all 75 UP districts from October 9: UP Minister

The Uttar Pradesh government on Sunday announced that eight-day trade shows will be organised across all 75 districts of the state from October 9 to 16, where entrepreneurs will be provided free stalls to showcase and promote their products on a wider scale. Khadi and Village Industries Minister Rakesh Sachan made this announcement during a seminar on Khadi for Nation, Khadi for Fashion held on the fourth day of the UP International Trade Show (UPITS) in Greater Noida, an official statement said. Highlighting the significance of GST reforms, Rakesh Sachan stated that for the first time since the introduction of GST, such a large-scale relief has been implemented, bringing fresh momentum to the MSME sector. "Earlier, trade shows were restricted to the divisional level, but in view of the success of UPITS, the government has now decided to expand them to every district. Entrepreneurs from diverse sectors, including Khadi, textiles, and ODOP, will participate, with officials already ..

Watch: Tariff is my 5th favourite word; it's making us rich, says Trump | Trump tariffs | Trade war

Donald Trump at a White House press brief said that tariff is the most beautiful word in the dictionary. He said he loves the word tariff which is fifth most favourite word.

Govt will 'positively' consider wheat product export demands: Pralhad Joshi

Food Minister Pralhad Joshi on Wednesday said the government will "positively" consider industry demands to allow exports of wheat products such as flour and semolina, while maintaining that food security remains the top priority. Speaking at the 85th annual general meeting of the Roller Flour Millers' Federation of India (RFMF), Joshi said multiple ministries are involved in export decisions and emphasised the need to consider next year's wheat production. "Keeping consumer interest and food security in mind, we will positively look into it," Joshi said. "The government's top priority is ensuring the country's food security." India, the world's second-largest wheat producer after China, banned exports of wheat grain and subsequently wheat products in 2022 due to concerns over domestic food security, a smaller harvest, and rising inflation. The minister's comments came as the country achieved record wheat production of 117.5 million tonnes in the 2024-25 rabi season. "You are ask

Trade, Tariffs, H-1B shock: What did Jaishankar and Rubio discuss? | Trump tariffs | India-US trade

External Affairs Minister S Jaishankar met US Secretary of State Marco Rubio in New York for the first time since Washington doubled tariffs on Indian imports.