Page 7 - Trade

India-US trade deal: Exporters in a fix over possible tariff cost split

Begin talks with buyers, particularly for goods arriving at US ports on or after Aug 1

Few tariff exclusions in India-UK free trade agreement, says MEA

Agreeement gets Cabinet approval, likely to be signed on Thursday; highest priority to ensure energy security: Misri

India, Maldives in discussions to negotiate free trade pact: Foreign secy

Addressing a press briefing ahead of Prime Minister Narendra Modi's visit to the Maldives, Misri elaborated on the burgeoning economic relationship between the two countries

India, US seek to futureproof trade agreement amid tax and tariff concerns

Starting April 1, India abolished the 6 per cent equalisation levy on online advertising services provided by non-resident entities, also known as Google tax

Industry body warns China's curbs threaten India's smartphone exports

ICEA urges government action as Foxconn recalls staff and Chinese customs block key machines

Gold imports in June fall to two-year low as record price dents demand

Domestic prices hit an all-time high of 101,078 rupees per 10 grams in June. Gold prices have risen 27 per cent so far this year after rising 21 per cent in 2024

India, Asean expect 'some conclusion' in FTA review by October-end

Both sides are also discussing matters pertaining to technical cooperation, sanitary and phyto-sanitary measures and technical barriers to trade collaborations

Issuance of preferential certificate under FTAs increases in FY25

Issuance of preferential certificates of origin -- a document enabling exporters to claim tariff benefits under free trade pacts -- by India has risen significantly for various countries, including Korea, Malaysia, and Japan, in 2024-25, indicating increased advantage of such agreements for domestic exporters. The number of preferential certificates of origin issued under free trade agreements implemented so far has recorded a healthy increase, rising to 7,20,914 in 2024-25 from 6,84,724 in 2023-24. The number of preferential certificates of origin issued by India under free trade agreements (FTAs) with Korea and Japan rose to 54,644 and 47,809, respectively, in 2024-25 against 52,158 and 42,306, respectively, in 2023-24, according to the commerce ministry data. India has issued 4,664 such certificates in 2024-25 under the FTA with Malaysia, against 4,370 certificates in 2023-24. Similarly, India has issued 19,267 certificates under the trade pact with Sri Lanka in 2024-25 compared

Trade war: A second chance for India to attract global manufacturing

Services trade from India has become a major success. From 2005 to 2023, India's share of global services exports doubled - from under 2 per cent to over 4 per cent

Govt to soon issue new guidelines to promote exports in new markets: Goyal

The government will soon issue new guidelines to promote the country's shipments in new markets and support first-time exporters, Commerce and Industry Minister Piyush Goyal said on Monday. He said that the ministry will partner with districts to promote one district one product (ODOP) goods. "The commerce ministry will soon be coming out with some more guidelines on how we can promote (exports in) new markets, new products and new exporters, first-time exporters," Goyal said while addressing the National One District One Product (ODOP) 2024 Award ceremony here. He said that India is like an oasis in a desert in a tumultuous world and is the fastest-growing large economy in the world today. India will become the third-largest economy in 2027, the minister said, adding, "we have so many diverse products that can take India globally". Citing examples of Wayanad's coffee, Ratnagiri mangoes, and saffron from Pulwama, he said that these represent the wide range of products that can tak

Amid growing chaos, American allies want to redraw trade map without US

Facing growing chaos, the EU and numerous other countries are seeking to forge a global trading group that is less vulnerable to Trump's tariffs

India should avoid rushing for trade agreement with US, say experts

India should avoid rushing into a trade deal with the US that compromises core sectors like agriculture, experts on Sunday said, cautioning that Washington is not sparing even its key partners like the EU. The US has shot off letters to 24 countries and the European Union (EU) imposing tariffs that are as high as 50 per cent on Brazil. On its key trading partners like the EU and Mexico, 30 per cent duties have been proposed from August 1. Economic think tank GTRI (Global Trade Research Initiative) said India must recognise that it is not alone in facing US pressure. The US is currently negotiating with over 20 countries and seeking concessions from more than 90. "Yet most are resisting because they see these MASALA (Mutually Agreed Settlements Achieved through Leveraged Arm-twisting) deals for what they are politically driven, transactional demands offering no lasting trade certainty," GTRI Founder Ajay Srivastava said. He added that both the EU and Mexico are major trade partners

Donald Trump's tariff chaos leaves global trade partners in uncertainty

Gone is the idea that the White House would strike 90 deals in 90 days after a period of rapid-fire negotiation, as Trump pledged in April

Small tea growers ask Centre to set up fair price discovery mechanism

Small tea growers, who contribute more than 50 per cent to the crop production of the country, have urged the Centre to set up a fair and transparent price discovery mechanism so that they can realise a proper value by selling leaves to factories. In a letter to Commerce Minister Piyush Goyal, the Confederation of Indian Small Tea Growers Associations (CISTA) suggested a price protection scheme modelled on the lines of the minimum support price (MSP). It said the Tea Board should undertake a detailed study to determine an equitable price-sharing ratio between small growers and factories. Small growers are facing the persistent challenge of poor price realisation, which is undermining the sector's sustainability, CISTA president Bijoy Gopal Chakraborty said. Small growers contribute more than 52 per cent to the country's tea production, and a proper price realisation mechanism should be identified so that livelihoods are sustained, he said. Chakraborty said the association has alre

PM Modi holds talks with Namibia President; digi tech, defence in focus

Lula backs India's push to expand Mercosur trade pact

PM Modi concludes visit to Brazil, sets $20 billion trade goal: Key highlights | India-Brazil

Prime Minister Narendra Modi has concluded his two-day visit to Brazil, where he and Brazilian President Luiz Inácio Lula da Silva discussed key issues across strategic sectors

Viable to export out of India; clarity on global trade needed: Cisco

Global tech major Cisco believes that India is a "viable" hub for exports, but made it clear that it will wait for clarity on global trade policies before deciding to invest more here. The San Jose-headquartered company's chairman and chief executive Chuck Robbins said India is one of the biggest opportunities for Cisco globally, and it believes no other country in the world can deliver the growth rates that India can over the next decade. Stating that the company started manufacturing in India about 18 months ago with a single product and is in the process of adding two more, Robbins said India is now a "viable" place for exporting out of. "I think the global trade dynamics right now need to sort of get settled down so we actually can think through how it impacts our longer-term plans. But obviously India is a big part of it," he told reporters here, when asked about investment plans. It can be noted that Cisco has a manufacturing unit near Chennai, which was opened last ...

CBIC may free up importers' IGST credits to address payment issues

Short payments of IGST on imports are usually discovered during internal audits or regulatory checks, and tend to arise due to valuation differences, classification errors, or other discrepancie

India aims to import about 10% of its LPG from US starting 2026: Report

India had rarely bought U.S. LPG in the past due to higher freight costs, but state retailers began buying U.S. LPG in May after China imposed retaliatory import tariffs on U.S. propane

Trade with India should reach $20 bn: Vietnam envoy Nguyen Thanh Hai

Ambassador Nguyen Thanh Hai says India-Vietnam trade has strong growth potential, urges deeper cooperation and highlights VinFast's $2 bn investment in Tamil Nadu