'A deal will only be possible if India stops buying Russian oil -- but even then, New Delhi must not compromise its core red lines.'
The comments came a day after US President Donald Trump said that Washington is "very close" to the trade pact with India.
Yojana Bhawan is working overtime to complete the crucial Approach paper to the 12th Plan amidst a buzz that Planning Commission Deputy Chairman Montek Singh Ahluwalia may get a Cabinet berth in the reshuffle expected soon.
India's exports grew 6.74 per cent to $36.38 billion in September, while imports jumped 16.6 per cent, widening the trade deficit to $31.15 billion, the highest in over a year. The increase in inbound shipments of gold, fertiliser and silver has pushed the country's imports in September to $68.53 billion against $58.74 billion in the same month last year, official data released on Wednesday showed.
The government is finalising a major GST overhaul with automated refunds, pre-filled returns, and analytics-based scrutiny to simplify compliance and boost liquidity for MSMEs.
The government on Wednesday approved two schemes worth Rs 45,000 crore to help exporters tide over the impact of high tariffs imposed by the US on Indian shipments.
'Where rostering systems are automated and duty time software interfaces directly with DGCA, the assertion that they suddenly discovered crew shortages is simply implausible.' 'If adequate crew planning hasn't materialised within 12 to 24 months from inception, how will 45 days -- from December 5 to February 12 -- suddenly resolve matters?'
Recalling or relabelling medicines already in the supply chain before September 22 will not be mandatory, the finance ministry said on Tuesday, issuing a fresh set of frequently asked questions (FAQs) to address industry concerns following the announcement of goods and services tax (GST) revisions.
The bilateral trade between India and China has been growing at a healthy rate, but the trade gap remains sharply tilted in Beijing's favour. India has time and again flagged its concern over the ballooning trade deficit and the non-trade barriers faced by Indian goods in the Chinese market.
China on Wednesday hit back at United States President Donald Trump's tariffs on Chinese exports with 84 per cent levies on its imports from America, intensifying the trade war between the top two economies of the world.
United States President Donald Trump on Wednesday said that the US is 'doing a trade deal with India' as the two sides continue to hold talks on the proposed trade pact.
The Federation of Indian Chambers of Commerce and Industry (Ficci) has sought urgent steps to clear the huge backlog of income-tax appeals, simplify tax deducted at source (TDS) compliance, and ensure tax neutrality for fast-track demergers, during its consultation with Revenue Secretary Arvind Shrivastava ahead of the Union Budget 2026-27.
Afghan Acting Foreign Minister Amir Khan Muttaqi met Federation of Indian Chambers of Commerce and Industry (FICCI) members on Monday to discuss opportunities in his country, especially in the mining sector. The Taliban, who now control Afghanistan, is seeking to repair its ties with New Delhi, and is hopeful of Indian public and private sectors increasing investments in the mining and power sector, and greater trade and commerce.
Records stretching back to 1947 suggest a consistent strategy by Pakistan's military and intelligence apparatus, the Inter Services Intelligence (ISI), of using terrorism as a state policy against India.
'Don't look at Russia only as a place to earn quickly and then leave.' 'Try to build experience in serious companies, skills and certifications that will serve you anywhere in the world.'
External Affairs Minister S Jaishankar on Monday met United States Secretary of State Marco Rubio for bilateral discussions, as the high-level 80th session of the United Nations General Assembly (UNGA) kicks in.
India has formally invoked the Mutual Legal Assistance Treaty (MLAT) with Singapore to investigate the death of singer Zubeen Garg. The Assam government seeks cooperation from Singaporean authorities in the case.
Benchmark stock indices Sensex and Nifty declined on Monday, extending the losing run to the fourth day amid selling in IT shares and foreign fund outflows. The 30-share BSE Sensex dropped by 247.01 points or 0.30 per cent to settle at 82,253.46. During the day, it fell 490.09 points or 0.59 per cent to 82,010.38 but recovered some of the losses towards the close.
'What we are willing to do is definitely going to depend on what the Indian government wants to do.'
An Indian commerce ministry team has reached Washington for another round of talks from Monday on the proposed bilateral trade agreement (BTA), an official said. Chief negotiator of India and special secretary in the Department of Commerce, Rajesh Agrawal, will join the team on Wednesday.
How the UN's flagship climate summit lost its direction and what's at stake.
This will be the first face-to-face meeting between Rubio and Jaishankar following President Donald Trump's imposition of an additional 25 per cent tariff on India for Delhi's purchases of Russian oil, taking the total levies imposed on India by the Trump White House to 50 per cent.
The government has set up an inter-ministerial group to monitor a possible surge in imports from countries like China, Vietnam and Thailand, fearing a surge in inbound shipments following the imposition of high reciprocal tariffs by the US on these countries, sources said. The product categories that may see an upsurge in diversion of imports from the US to India include consumer goods, electronics, chemicals and steel.
For Canada, important steps towards containing domestic elements that fuel pro-Khalistan sentiments can go a long way in signalling trust positively with regard to security and sovereignty, point out Harsh V Pant and Vivek Mishra.
The commerce ministry on Friday held consultations with key stakeholders, including shipping lines, exporters, container firms, and other departments, to assess the impact of the Iran-Israel conflict on India's overseas trade, an official said. The meeting was chaired by Commerce Secretary Sunil Barthwal.
India's goods exports rebounded in July after two months of contraction, with outbound shipments rising 7.3 per cent to $37.24 billion, led by a surge in exports to the United States before the country's reciprocal tariff kicked in and bolstered by a recovery in exports to other key markets.
China on Friday said it is assessing whether to start trade talks with the US on tariff reductions following recent approaches by Washington, a move that would possibly ease the tit-for-tit tariff war between the world's two largest economies. "China is making assessments as the United States has recently reached out to convey messages to China through relevant parties many times, expressing hope to engage in talks with Beijing over tariff issues," the Chinese Commerce Ministry said in a statement in Beijing.
India's smartphone exports surged nearly fivefold to the US and about fourfold to Japan in the past three years, propelling the segment to surpass petroleum products and diamonds as the country's top exported goods, according to government data. The smartphone exports rose by 55 per cent to $24.14 billion in 2024-25 from $15.57 billion in 2023-24 and $10.96 billion in 2022-23.
The MEA release said that the embassy of India in Kabul will further augment India's contribution to Afghanistan's comprehensive development.
Communication channels between India and the US are open to resolve the ongoing tariff issues, and the glitch in trade ties is only temporary, given the long-term relationship between the two nations, government sources said on Wednesday. The US' 50 per cent tariffs on Indian exports to America came into effect from August 27, barring a few sectors.
Senior officials from India and the US engaged in virtual talks to discuss bilateral ties, focusing on trade, investment, critical minerals, and energy security, including civil nuclear cooperation.
An Indian commerce ministry team will soon visit Washington for another round of talks on the proposed trade agreement with the US to iron out differences in sectors, like agriculture and automobiles, a government official said on Thursday.
China accounts for about 70 per cent of global rare earth mining and nearly 90 per cent of rare earth magnet production, making it a dominant player and giving it significant leverage in global supply chains.
Amid controversy over USPresident Donald Trump's comments linking the use of Tylenol and other related paracetamol products by pregnant women to autism in children, experts and industry executives say that since India's export of the drug to the US is less, it will hardly affect the country's pharma exports to America.
From the Sensex pack, Bharti Airtel, Asian Paints, Infosys, Bharat Electronics, Tech Mahindra and Eternal were major laggards. However, Maruti, Tata Steel, Bajaj Finance, Bajaj Finserv, Trent and Tata Consultancy Services were among the gainers.
"You see, I have been in Commerce for the last seven years and I am perhaps the only factor that provides continuity in this ministry," Khullar says with unconcealed pride.
Rubio voiced "appreciation" for New Delhi's continued engagement on bilateral issues, including trade, defence and energy.
The US remained India's largest trading partner for the fourth consecutive year in 2024-25 with bilateral trade valued at $131.84 billion, while the country's trade deficit with China widened to $99.2 billion during the same period, government data showed. In the last fiscal, India's exports to China contracted 14.5 per cent to $14.25 billion as against $16.66 billion in 2023-24. The imports, however, rose by 11.52 per cent in 2024-25 to $113.45 billion against $101.73 billion in 2023-24.
Under an Executive Order issued by the US administration on July 30, 2025, goods valued above USD 100 will be subject to customs duties in America with effect from August 29 onwards.
New Delhi 'will have to take a call which supply source suits us the best,' the finance minister said, pointing out that crude oil accounts for the bulk of India's foreign exchange spend.
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