The exercise is aimed at finalising India's position for a free trade agreement with BIMSTEC nations.
India will have to show more willingness to import, and since Biden will not encourage sale of oil and gas to bridge the gap, it means there has to be more meaningful duty reduction in other areas even if Delhi baulks at a Free Trade Agreement so soon after walking out of RCEP.
To celebrate the new trade deal with India, Australian Prime Minister Scott Morrison on Saturday took to Instagram to post a picture showing him preparing khichdi, his Indian counterpart Narendra Modi's favourite dish.
'Geopolitically and diplomatically it's a very difficult situation for India.'
Net inflows were $18.4 billion for the rolling 12-month period ended January 2024 compared to $32.7 billion for the rolling 12-month period ended January 2023.
"We hope to reach a solution by July 2007," the minister said after the ASEAN-India economic minister's meeting held in Cebu, Philippines.
'The US is strongly placed to expand its crude supplies to India.'
The "weaponisation" of economic activity - through tariffs and sanctions - is now a reality, with countries leveraging these tools strategically, External Affairs Minister S Jaishankar said at the Raisina Dialogue recently.
Apple's ambitious strategy to expand iPhone exports, shift more production from China to India at a faster pace, and grow its domestic market hits a Trump-sized roadblock.
Trump had said a comprehensive trade agreement with India would take much longer to finalise than earlier expected.
The implementation of South Asian Free Trade Agreement is expected to enhance trade in the region to $14 billion from $6 billion in the next two years.
A feasibility study on the proposed Free Trade Agreement, officially known as the Comprehensive Economic Cooperation Agreement, has long been finalised but cannot be acted upon in the absence of Russia joining the WTO.
President Mohamed Muizzu, known for his pro-China stance, has thanked India for enabling the resumption of medical evacuation services with civilian aviation personnel from India.
For India to reach its ambiguous economic growth targets, it needs to be integrated into global trade pacts.
India's purchase of US crude oil has picked up in 2025 and could easily double their previous levels, government officials said on Wednesday. The surge comes in the wake of the then-incoming Donald Trump administration's announcement that it would consider hiking tariffs on a reciprocal basis, and pushed some countries, especially those with large trade surpluses with the US, to buy more of its energy.
In the shadows of a sliding rupee, India's knitwear hub Tiruppur is weaving a success story. While the domestic currency edges closer to the 86 mark against the US dollar, triggering concerns for many sectors, this textile town in Tamil Nadu is finding opportunity in adversity: Between April and December alone, Tiruppur's exports reached Rs 26,000 crore, almost eclipsing last financial year's total of Rs 30,690 crore.
Dar also said Pakistan views Russia as an important player in the West, South and Central Asia, and strengthening mutually beneficial cooperation with Russia remains an important priority for Pakistan's foreign policy.
Driven by smartphone, electronics exports have reached $22.5 billion in value in the first eight months of the current financial year (FY25), a near 28 per cent growth over the $17.66 billion electronics exports during the corresponding period of FY24.
With the prediction of an above normal monsoon in 2024, the government is expecting food prices to come down, the finance ministry's monthly economic report for March has said. The report, released on Thursday, said robust foreign inflows and comfortable trade deficits were expected to keep the rupee within a comfortable range. "Further easing of food prices is on the anvil as IMD (India Meteorological Department) has predicted above-normal rainfall during the monsoon season, which is likely to lead to higher production, assuming good spatial and temporal distribution of the rainfall," the monthly report, released by the Department of Economic Affairs, said.
Worried by a spike in Chinese imports, the Indian Steel Association (ISA) plans to take up the matter with the government and seek measures to fix "trade distortions". Alok Sahay, secretary general of the group that represents the country's steel producers, said systemic changes were needed. "In order to take any trade measure, it takes a minimum of 15 months' time, due to prevalence of lesser duty rule in India, making India an easy target. "We are going to write to the government on this," he said.
British Prime Minister Rishi Sunak has reiterated the UK's commitment to a free trade agreement (FTA) with India as part of the country's wider focus on enhancing ties with the strategic Indo-Pacific region and standing up to competitors with "robust pragmatism". Delivering his first major foreign policy speech since taking charge at 10 Downing Street last month at the Lord Mayor of London's Banquet on Monday evening, the British Indian leader reflected upon his heritage and committed to promoting British values of "freedom and openness" around the world. He also pledged to "do things differently" far removed from the so-called "golden era" with China, which he said poses a "systemic challenge" to British values and interests.
This accord marks the success of India's Look East Policy and is the first with a trading bloc.
This accord marks the success of India's Look East Policy and is the first with a trading bloc.
The formalisation of Asean-India Free Trade Agreement (AIFTA) covering the goods sector marks an important step towards India's deepening trade links with its partners in the Asian region.
'India has an advantage because we produce more cotton and we have more workforce.'
In a dramatic shift in Canada's foreign policy, Prime Minister Mark Carney on Thursday declared that the long-standing economic and security relationship between Canada and the United States has ended, responding to US President Donald Trump's announcement of new auto tariffs that could severely impact Canada's economy, Politico reported.
The minister said Australia would benefit greatly from this pact.
'You can be sure that the Pakistanis knew when the Indian Air Force aircraft took off, which type these were, and what their likely targets were.' 'The question was: How would they determine that the IAF wanted to fire, and when to bounce them?', notes Shekhar Gupta.
Another priority in the first 100 days could be the launch of an e-platform -- Trade Connect -- to help exporters connect with stakeholders of international trade.
Moody's Investors Service on Thursday said India is likely continue to face challenges in raising longer-term growth potential and creating enough jobs for its young population in the absence of higher trade openness. In its report on South Asia sovereigns, Moody's said compared with other South Asian economies, India appears to be in a better position to deepen its integration in global value chains, attract FDI and increase exports. The country has better macroeconomic fundamentals, more stable politics and a more developed export sector.
Some of these nations are India's biggest export market. India is also dependent on these countries to meet its energy needs.
Talks on the ambitious India-Asean Free Trade Agreement have received another setback due to the violent protests at the Asean summit venue in Thailand last Sunday.
India and Australia are soon likely to initiate talks for a free trade agreement.
At the end of the day, for many worldwide, the ongoing mutual attacks between Israel and Iran would seem a contest devoid of any moral high ground and only a bout between two ordinary adversaries, one that nevertheless risks spinning out of control into a larger conflagration, notes Shyam G Menon.
Asian Development Bank and Reserve Bank on Thursday advocated that India should go in for a free trade agreement with China and five other nations in the Mekong region to sustain high growth.
'What my Labour government will seek with India is a relationship based on our shared values of democracy and aspiration. That will seek a free trade agreement (FTA), we share that ambition, but also a new strategic partnership for global security, climate security, economic security'
Apparel exports to Japan are expected to grow by 20-25 per cent year on year from the current $220 million on account of rising opportunities for domestic exports, AEPC said on Saturday. Apparel Export Promotion Council (AEPC) said that rising opportunities due to changing geopolitical landscape, government supports like production linked incentive, mega park scheme, improving the quality standard, getting sustainable and utilising benefits of free trade agreements with major markets are the key growth drivers. To promote exports to Japan, the council is organising a two-day show in Gurugram.
