"It is quite possible that the rates will remain low in the near to medium term, but that will depend on how conditions evolve," said RBI Governor Sanjay Malhotra.
The proposed trade deal with the 27-nation European Union (EU) is expected to provide zero-duty access to the $95 billion European market for Indian textile and apparel manufacturers. Currently, India's share of the European market is just 6 per cent, or $5.5 billion.
FIDE, the world chess governing body, has rejected calls to move the Candidates Tournament from Cyprus despite security concerns arising from regional conflicts. The tournament is scheduled to begin on March 28.
In the wake of the FTA between India and the European Union, the United States has described the Europeans as 'very disappointing', saying they were unwilling to join Washington, DC in putting tariffs on New Delhi for its purchases of Russian oil because of this trade deal.
The Congress attacked the Modi government, saying it now seems to be routine that India learns about its government's actions only from Trump or his appointees.
India is struggling with the second wave of coronavirus infection and hospitals in several states are reeling under a shortage of medical oxygen and beds in view of a rising number of COVID-19 cases.
The nations dominating the world's milk output...
US President Donald Trump and Russian President Vladimir Putin discussed the Iran conflict and its impact on global energy supplies during a phone call.
The India-EU free trade deal could help Indian-made cars enter Europe at lower costs and challenge Chinese dominance.
Negotiators from were expected to meet in New Delhi on August 28.
West Asia conflict triggers sharp sell-off in Indian markets, with realty, banking and auto stocks leading losses amid energy shock fears.
The European Union (EU) has suspended export benefits to sectors such as textiles and plastics under a preferential scheme for India and two other countries from January 1, a move that will impact the country's shipment to the 27-nation bloc. The development is important as the two sides are likely to announce the closure of negotiations for a free tarde agreement (FTA) on January 27.
A traditional pahadi preparation, it uses a Garhwali spice called jakhiya, also called wild mustard or dog mustard, that gives a special kick.
The core issues to be settled -- access to Hormuz, Israel's aggression in Lebanon, the question of Iran's nuclear programme, sanctions relief and compensation -- are thorny enough to require weeks of patient negotiation. The most likely outcome of the opening sessions is that both sides take the measure of each other, establish what is and is not negotiable, and return home without having broken anything. That would count as progress.
Pakistan's Prime Minister Shehbaz Sharif has engaged in extensive diplomatic efforts to de-escalate the conflict in West Asia, offering to host talks between the US and Iran and engaging with leaders from Saudi Arabia, Qatar, Malaysia, the UK, China, and the European Union.
The cost of the war is being counted not in the corridors of power in Washington or Tehran, but in Firozabad's darkened furnace rooms, Howrah's idle casting sheds, and a barbershop in Kochi where the wait is suddenly, inexplicably, an hour long, notes Prem Panicker in his must read blog on the Iran War.
Guterres emphasised that global structures and institutions must reflect the complexity and the opportunity of the "new times and realities"
Among major engagements in 2026 is the visit of the European Union leadership, chief guests at the Republic Day parade.
India will lower duty on European apples to 20 per cent under the trade pact, but the imports would be capped at 50,000 tonnes per year and subject to a minimum import price of Rs 80 per kg, thereby fully protecting domestic farmers, an official said on Wednesday.
India may adopt a "calibrated" and a "step-by-step" approach to easing norms on investments originating from China, Union Commerce and Industry Minister Piyush Goyal said on Tuesday. He was in a conversation with A K Bhattacharya on Day 1 of Business Standard's two-day annual event, Manthan 2026. The minister said foreign direct investment (FDI) from China was certainly not "banned", but it goes through an approval process. "The government's approach at the moment is to accelerate the approval process."
The United States Trade Representative (USTR) office on Wednesday launched a sweeping investigation into manufacturing and industrial practices in 16 economies, including India, citing concerns over what it calls 'structural excess capacity' that could distort global trade. Announcing the move on a White House press call, Jamieson Greer said the probe would be conducted under Section 301 of the Trade Act of 1974, one of Washington, DC's most powerful trade enforcement tools.
Reliance Industries Ltd on Thursday said it has halted the use of Russian crude at its export-only refinery in Jamnagar, Gujarat, as the company moves to comply with European Union sanctions. Reliance is India's largest buyer of Russian oil, which it processes and turns into fuel, such as petrol and diesel, at its giant oil refining complex at Jamnagar.
India and the European Union are set to announce on January 27 the conclusion of negotiations and finalisation of a free trade agreement, which is aimed at boosting economic ties between the two regions amid disruptions in global trade due to US tariffs, an official said.
Amidst rising Middle East tensions, External Affairs Minister S Jaishankar highlights India's strategic dialogue with Iran to safeguard maritime traffic through the Strait of Hormuz, ensuring India's energy security and continued oil trade.
Both India and the EU are likely to announce a conclusion of trade talks on January 27.
India has fully protected its sensitive sectors like dairy, rice, wheat, pulses, tea, genetically modified (GM) goods, and coffee by not granting any import duty concessions to the European Union (EU) under the bilateral free trade agreement, according to the Commerce Ministry.
Indian men's and women's lacrosse teams, fresh off their gold-winning performance at the Asian Lacrosse Games, have been felicitated by the Sports Minister and urged to focus on qualifying for the 2028 Los Angeles Olympics.
India has gained the least since Russia invaded Ukraine in February 2022 and was penalised the most, while the US, China and the European Union emerged as the biggest beneficiaries from the war.
A five-member European Union delegation, currently on an information gathering visit to Valley, on Friday hinted that the EU will not interfere in the Kashmir issue, saying it has to be resolved by the "people living in the region". "We are not coming here with a particular mandate (to solve the issue). What is happening in this part of the country has to be solved by the people who are living in the region," EU Ambassador to India Daniele Smadja told reporters.
In their talks, Modi and Merz are likely to deliberate on trade and investment ties as New Delhi is looking at deepening economic engagement with Europe against the backdrop of Washington's 50 percent tariff on Indian goods, people familiar with the matter said.
Prime Minister Narendra Modi launched a strong attack on the Congress party, accusing them of being unable to accept their repeated electoral defeats and highlighting the achievements of his government.
Over the years, India-EU ties have grown, and covered trade, investment, climate change, science and technology, space, digital, mobility, and connectivity.
Exporters of gems and jewellery have said the free-trade agreement (FTA) has brought relief to their sector because this opens up the world's second-largest market and brings them on a par with China and Thailand, which face zero tariffs on shipments to Europe.
Several farmer organisations in India are protesting the proposed India-US trade deal, expressing concerns about its impact on the agriculture sector and demanding the resignation of the Commerce Minister.
Prime Minister Narendra Modi on Tuesday announced the signing of the India-EU Free Trade Agreement (FTA), saying it accounts for 25 per cent of global GDP and one-third of global trade.
With the worst in terms of pricing pressures behind Tata Steel, its outlook is expected to improve. Europe has seen hot rolled coil prices rise this January after the European Union's (EU's) carbon border adjustment mechanism (CBAM) kicked in and further price improvements may be on the cards once import quotas come into play in June.
Textiles, pharmaceuticals, chemicals, engineering goods, gems and jewellery exports will receive a boost from the free trade agreement between India and the 27-nation European Union, according to exporters.
'It's a lifetime opportunity to cook for the most high-profile table of India. It's a matter of honour for me.'
The tariff removal will lower prices of Harley's large-displacement imported motorcycles, which retail between 14.5 lakh and 45.8 lakh but after the duty cut volumes are expected to remain modest.
'We were in a heavily nuclearised environment. China had tested for Pakistan in the 1980s and helped their missile programme stay just one step behind us.'
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