Now Reading: Overseas Commerce, India Export & Import Coverage | Financial system Information
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Overseas Commerce, India Export & Import Coverage | Financial system Information
Overseas Commerce, India Export & Import Coverage | Financial system Information
Amid Trump tariffs turmoil, India is an island of calm. For a way lengthy?
US President Donald Trump’s tariffs on Canadian, Mexican, and Chinese language imports have sparked fears of a worldwide commerce warfare. India’s officers are negotiating to decrease tariffs on numerous merchandise to mitigate the affect, as potential US reciprocal tariffs might considerably have an effect on its export sectors.
Bargaining with Brussels: India-EU free commerce talks in focus
India and the EU goal to finalize a free commerce settlement by year-end, specializing in funding safety and digital commerce interoperability. Key negotiation factors embody decrease tariffs on textiles, enhanced market entry, and mutual recognition of e-signatures, whereas addressing challenges similar to India’s import duties and the EU’s inexperienced measures.
Wheat trade calls for import obligation discount to curb hypothesis and worth volatility
The wheat processing trade in India has urged the federal government to scale back the import obligation on wheat due to local weather uncertainties and worth volatility. They search to import 2-3 million tonnes to stabilize costs. The federal government, nevertheless, claims ample inventory and urges mills to go on advantages to shoppers.
Commerce Minister Piyush Goyal heads to US for commerce talks as Trump tariffs loom, officers say
India’s Commerce Minister Piyush Goyal commenced an surprising journey to the US to barter commerce phrases on account of upcoming reciprocal tariffs from President Donald Trump, worrying Indian exporters. Goyal will goal to make clear these tariffs’ impacts and doubtlessly talk about concessions and a commerce deal to mitigate losses estimated at $7 billion yearly.
Friendless EU all of a sudden turns to India’s commerce and defence edge in a altering world
European Fee chief Ursula von der Leyen and her crew visited India to strengthen EU-India relations, asserting plans for a free commerce settlement and a protection partnership. This go to highlights a shift in European technique to broaden alliances amid world tensions.
Piyush Goyal’s US go to for commerce talks to begin on Monday
Commerce and Business Minister Piyush Goyal will go to Washington to debate a bilateral commerce settlement with the US. India and the US goal to double commerce to USD 500 billion by 2030 and finalize an settlement by 2025. Amid rising tariffs, each nations plan to make concessions as their economies complement one another.
India’s tariffs WTO-compliant, exports to US have low native worth add: GTRI
India’s exports to the US embody merchandise like iPhones and photo voltaic panels with low native worth addition, resulting in minimal financial positive aspects for India. Suppose tank GTRI urges the federal government to make sure the US understands India’s WTO-compliant import duties. With upcoming commerce talks, India should strategize to keep away from escalated commerce tensions whereas explaining its tariff insurance policies.
Indian tariffs are WTO compliant, govt ought to convey that to US: GTRI
India’s import duties align with world commerce guidelines, and the federal government ought to talk this to the US. Nonetheless, negotiating a free commerce settlement with the US poses challenges, together with strain to open authorities procurement, cut back agricultural subsidies, and alter information circulate restrictions, which India continues to withstand.
India, EU talk about efforts to speed up FTA discussions
India and the EU are aiming to finalize a free commerce settlement by the tip of the yr. Commerce Minister Piyush Goyal and EU Commerce Commissioner Maros Sefcovic held talks in Mumbai to push for a balanced and mutually helpful deal. The subsequent spherical of negotiations is ready for March 10-14 in Brussels.
India, European Union talk about efforts to speed up FTA talks
India and the EU are accelerating efforts to finalize a free commerce settlement by the tip of the yr. Key areas embody obligation cuts on particular items and information safety for India’s IT sector. The settlement goals to reinforce bilateral commerce and funding, amidst issues over potential US tariffs.
Should Watch
India can leverage US tariff menace for mutual reductions: Panagariya
Arvind Panagariya, Chairman of the sixteenth Finance Fee, suggests India leverage the US menace of reciprocal tariffs to safe mutual tariff reductions, fostering a win-win scenario. He warns of the detrimental penalties of a tariff warfare. The US-India bilateral commerce reached USD 190.08 billion in 2023, with a big commerce surplus for India.
Piyush Goyal to go to Washington subsequent week to kickstart Bilateral Commerce Settlement talks
Commerce Minister Piyush Goyal plans to go to Washington to satisfy newly appointed USTR Jamieson Greer. This go to goals to provoke talks on a Bilateral Commerce Settlement between India and the US, concentrating on negotiation completion by autumn 2025. Each nations goal to double two-way commerce to $500 billion by 2030, specializing in rising market entry and decreasing tariff limitations.
India-EU goal to conclude FTA negotiations by this yr, MEA says after EU chief’s ‘landmark go to’
Leaders from India and the European Union held discussions in New Delhi, aiming to finalize the Free Commerce Settlement by the tip of the yr. The wide-ranging talks targeted on numerous sectors together with commerce, digital inexperienced expertise, vitality, and surroundings, with vital progress famous in cooperation on AI, semiconductors, and inexperienced vitality initiatives.
EU appears to be like to strike safety, defence take care of India: Ursula von der Leyen
India and the European Union have dedicated to finalizing a free commerce settlement by yr’s finish, aiming to mitigate impacts of U.S. tariff hikes. The deal, protecting sectors like expertise and inexperienced development, calls for vital concessions from either side, with talks resuming after an eight-year hiatus.
India’s exports to US could decline by $ 2-7 bn in FY26 submit reciprocal tariff: Ind-Ra
India Rankings (Ind-Ra) warned that India’s exports to the US might drop by USD 2-7 billion in FY26 if the US imposes reciprocal tariffs. India’s exports to the US rose 5.57% to USD 59.93 billion in FY25, whereas imports grew by 1.91%. Bilateral commerce discussions and protection pacts could mitigate the affect, with GDP development doubtlessly declining by 5-10 foundation factors.
India, Japan renew $75 bn bilateral foreign money swap settlement
India and Japan have renewed their USD 75 billion bilateral foreign money swap settlement, as introduced by the Reserve Financial institution of India (RBI). The Bilateral Swap Association (BSA) permits each international locations to alternate their native currencies for US {dollars}. The settlement was signed by the Financial institution of Japan and the RBI, and it stays efficient as of February 28, 2025.
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