Customs regimes can lead to labyrinthine legal disputes. Budget 2026 must recognise that an excessively defensive Customs posture can itself become a trade barrier, point out Mukesh Butani and Shankey Agrawal.
Prime Minister Narendra Modi convened the Cabinet Committee on Security to address the impact of the West Asia conflict on Indian citizens, focusing on safeguarding them from the conflict's effects and ensuring the smooth flow of essential supplies.
Commerce and Industry Minister Piyush Goyal announced that an interim trade agreement between India and the US is likely to be signed in March and operationalised in April, with chief negotiators meeting in Washington to finalize the details.
Tea planters in Darjeeling have raised that a shortage of commercial LPG, triggered by the ongoing conflict in West Asia, could hit tea processing during the first flush, the delicate early-season harvest that commands the highest premiums and often sets the tone for the year.
'I don't think we should ever negotiate with deadlines or hard stops because we tend to make mistakes then.'
With the Iran war escalating sharply and crisis deepening in the global energy market, India on Monday unveiled a coordinated plan to support exporters and shippers caught in the fallout.
With the India-US trade talks moving in the right direction, Commerce and Industry Minister Piyush Goyal is expected to visit Washington soon, sources said.
Following a Supreme Court setback, Donald Trump has announced an increase in global tariffs from 10% to 15%, impacting international trade relations and raising concerns about economic repercussions.
The Indian team has returned from the US after holding trade talks with their American counterparts in New York, an official said on Thursday. Commerce and Industry Minister Piyush Goyal, who led the team, will be back on Friday.
The last rites of veteran Congress leader and former Union minister Shivraj Patil were performed with full state honours in his home district, Latur, in Maharashtra on Saturday, with many top leaders in attendance.
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.
External Affairs Minister S Jaishankar addressed the Rajya Sabha on India's position regarding the escalating conflict in West Asia, emphasising the need for peace, dialogue, and the safety of civilians, while also prioritising India's energy security and trade interests.
'As long as apps show impossible delivery times, delivery and packaging workers will be pressured to meet unsafe, unhealthy standards.'
India's gems & jewellery exports witnessed 30.6 per cent year-on-year (Y-o-Y) contraction in October to $2.17 million, amid the imposition of a steep 50 per cent tariff by the United States (US) on several Indian products.
Among Sensex firms, State Bank of India, Bharat Electronics, Kotak Mahindra Bank, Maruti, Trent and UltraTech Cement were the major gainers. However, Bajaj Finserv, Titan, ITC and Tata Steel were among the laggards.
Eternal-owned quick-commerce firm Blinkit has dropped its '10-minute' delivery claim after intervention by the Labour Ministry amid growing concerns over the welfare and safety of delivery workers.
Prime Minister Narendra Modi will visit Israel to enhance defence and trade cooperation amid Middle East tensions. Discussions will include defence, security, and the situation in Gaza.
Mexico on Thursday imposed a tariff of up to 50 per cent on imports from its non-preferential trade partners, including India, a move that might hit New Delhi's annual $5.75 billion shipments to its third-largest car export market.
Prime Minister Narendra Modi is scheduled to visit Israel for two days to discuss bilateral and regional issues, marking his second visit to the Jewish state and highlighting the growing strategic partnership between India and Israel.
The Indian government informed Parliament that India and the US are engaged in negotiations for a mutually beneficial multi-sectoral bilateral trade agreement. The two countries also cooperate on strategic, economic, and defense matters, managing divergences through high-level dialogues.
Lavrov said that the US has set itself the objective of 'achieving economic domination', adding further to it that Americans want to control the routes to leading countries to provide its energy sources to them.
The first phase of the proposed India-US bilateral trade agreement (BTA) is 'nearing closure' and would address the hefty 50 per cent tariffs imposed by the Trump administration on Indian goods, in addition to resolving America's market access issues, a government official said on Monday.
MEA spokesperson Randhir Jaiswal said India's energy decisions are guided by national interest.
India has implemented a number of free trade agreements with developed nations and is in active dialogue for such pacts with nations including the US, Oman, and the EU, Commerce and Industry Minister Piyush Goyal said. India has implemented trade pacts with Australia, the UAE and EFTA bloc. It has also signed an agreement with the UK.
India's exports rose 6.7 per cent to $35.1 billion in August annually, while imports declined 10.12 per cent to $61.59 billion, according to government data released on Monday. Gold imports were down nearly 56 per cent in August, helping to trim merchandise trade deficit to $26.49 billion in August, as against $35.64 billion in the year-ago month.
China on Friday raised its additional tariffs on imports from the United States to 125 per cent in retaliation to the Trump administration's 145 per cent levies on Chinese exports.
Senior officials from India and China's foreign ministries met in Beijing to discuss bilateral ties following a meeting between Prime Minister Modi and President Xi.
The government has infused over Rs 3,100 crore into women-led startups over the past six years, through its three schemes including the Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS), and Credit Guarantee Scheme for Startups (CGSS) to boost female entrepreneurship across the country, according to an update shared by the Ministry of Commerce and Industry.
India's merchandise exports grew in the first three weeks of November compared with the same period last year, according to preliminary government data, Commerce and Industry Minister Piyush Goyal said on Tuesday. The uptick comes despite globa
India does not do trade agreements in a hurry or with a "gun to our head", Commerce and Industry Minister Piyush Goyal said on Friday. He said India is actively negotiating trade pacts with countries and regions, including the European Union (EU) and the US.
After registering a positive growth for two months, India's exports slipped into negative territory again, contracting 2.17 per cent year-on-year to $38.73 billion in May due to a fall in global petroleum prices, while trade deficit narrowed at $21.88 billion during the month.
New Delhi will substantially reduce tariffs on industrial and agricultural goods while continuing to protect sensitive sectors. Tariffs on some agricultural products that are not traditionally considered sensitive will be brought down to zero, while in the case of relatively sensitive items, duties will be reduced in a graded manner and quotas will be imposed.
The agreement addresses non-tariff barriers and promotes increased trade in technology products and cooperation between the two countries.
India's exports rose 9.03 per cent to $38.49 billion in April, the highest in six months, driven by healthy growth in sectors such as electronics and engineering goods, while the trade deficit widened to a five-month high of $26.42 billion. According to the commerce ministry data released on Thursday, imports increased by 19.12 per cent year-on-year to $64.91 billion in April due to a rise in shipments of crude oil and fertiliser.
India's merchandise exports to the US rose by 16.93 per cent to $8.83 billion in May, while imports dipped by 5.76 per cent to $3.62 billion during the month, according to the commerce ministry data. During April-May, the country's exports to the US increased by 21.78 per cent to $17.25 billion, while imports rose by 25.8 per cent to $8.87 billion, the data showed.
'Incidentally, Prime Minister (Modi) and President Trump have also spoken on the phone on eight occasions during 2025, covering different aspects of our wide-ranging partnership'
Stock markets will be driven by RBI's interest rate decision, tariff-related developments, global trends and trading activity of foreign investors in this holiday-shortened week, analysts said.
"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.
Trump made the announcement in response to what he described as China taking "an extraordinarily aggressive position on trade" by sending "an extremely hostile letter to the world."
India has been on an FTA-signing spree of late. Since 2021, it has signed eight trade agreements, three of which -- with the UK, Oman and New Zealand -- were finalised in 2025 alone.
