'The government's priority is not farmers.'
United States President Donald Trump said a 'very big' trade deal is on cards with India, hinting at significant progress in the negotiation process of a long-awaited bilateral trade agreement between the two countries.
Commerce and Industry Minister Piyush Goyal will lead a team of senior Indian officials to Washington starting May 16 for discussions with their US counterparts on the proposed bilateral trade agreement (BTA), an official said on Tuesday. Goyal is expected to hold meetings with US Trade Representative (USTR) Jamieson Greer and US Commerce Secretary Howard Lutnick during his visit.
India's merchandise exports dipped by about one per cent to $38.01 billion in December 2024 against $38.39 billion a year ago, according to government data released on Wednesday. Imports increased by 4.8 per cent to $59.95 billion in December 2024 compared to $57.15 billion in the year-ago month.
'We don't have to compete with Maharashtra or Gujarat. We have to now start thinking about how we compete with the United States or China.'
'Could the impending new crisis, vibe coding, similarly create not a disaster like what befell Indian handlooms during the Industrial Revolution but another opportunity like what the Y2K crisis created?' asks Ajit Balakrishnan.
'As the global economy undergoes significant transformations in 2025, India's ability to navigate the complexities of trade wars, financial realignments, and emerging blocs will be pivotal,' explain Harsh V Pant and Soumya Bhowmik.
A team of senior officials from India will again visit Washington this month to hold discussions with their US counterparts on the proposed bilateral trade agreement (BTA), government sources said on Thursday. To give impetus to the talks, India's chief negotiator Rajesh Agrawal, special secretary in the Department of Commerce, and Assistant US Trade Representative for South and Central Asia Brendan Lynch had last month held three-day talks in Washington.
The commerce ministry is working on different scenarios to assess the possible fallout of reciprocal tariffs to be imposed by the US administration on April 2 on its key trading partners including India, sources said. US President Donald Trump has said that April 2 will be 'Liberation Day' as he plans to announce tariffs or import duties to bring down America's trade deficit, and promote the country's manufacturing.
The Indian industry is paranoid about the USA's plan to impose reciprocal tariffs and wants early conclusion of a bilateral trade agreement, sources said on Wednesday. They said that the talks for the proposed bilateral trade agreement are going well.
Union minister for textiles Dayanidhi Maran said, "The making of the National Fibre Policy is in its final stages and will be ready by March end." He spoke at a seminar today, organised by the Confederation of Indian Industry on textiles. He declined to divulge details.
The cash-starved Indian textile industry is of the view that the Technology Upgradation Fund Scheme, or Tufs, flagship scheme of the textiles ministry, has lost its shine, as economic slowdown has put modernisation and expansion plans of companies on hold. The industry says there are more basic problems that the government needs to address.
Indian and US officials will begin deliberations on the proposed bilateral trade agreement in Washington from Wednesday with an aim to iron out issues and give an impetus to the negotiations.
They saluted 'the hands that weave timeless stories'.
An Indian official team is likely to visit Washington next week to iron out differences on certain issues before formally launching negotiations for the proposed India-US bilateral trade agreement (BTA), an official said. The visit, which comes within weeks of a high-level US team visiting India, indicates that the talks for the BTA are gaining momentum.
According to industry estimates, textiles exports have declined by 6.8 per cent during the April-May period of 2007-08, while cotton yarn has seen a negative growth of 9.9 per cent. India's textile exports amounted to $19 billion last year and the target for this fiscal was set at $25 billion.
'We have to be prepared for the larger disruption that is likely to take place.'
India and the visiting US officials have decided to hold a wrap-up session on Saturday morning to conclude the three-day talks on the proposed bilateral trade agreement, government sources said. They said the discussions are at a "very" early stage.
'My advice: Don't mark your portfolio to market every day. Focus on survival.'
The weaker rupee will push the country's import bill due to higher payments for crude oil, coal, vegetable oil, gold, diamonds, electronics, machinery, plastics, and chemicals, economic think tank GTRI said on Friday. Citing an example, it said the depreciating domestic currency will increase India's gold import bill, especially as global gold prices have jumped 31.25 per cent, rising from $65,877 per kg in January 2024 to $86,464 per kg in January 2025.
India's policy for agriculture trade must move commodity-by-commodity to gain maximum benefits as US President Donald Trump's 26 per cent tariff on exports from the country take effect, said agriculture economist Ashok Gulati in a recent policy paper.
India and the US have decided to hold sector-specific talks in the coming weeks to finalise the structure of the proposed bilateral trade agreement (BTA), the government said on Saturday. The engagement between the two countries came in the backdrop of the USA's threat to impose reciprocal tariffs on its key trading partners, including India, on April 2.
The Budget has given signals that India is sensitive to the US needs and willing to walk the extra mile, but if need be, we should respond in equal measure as a sovereign nation, notes Ajay Srivastava.
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.
"These latest so-called 'Liberation Day' tariffs are reckless and self-destructive, inflicting financial pain on Illinois at a time when people are already struggling to keep their small businesses afloat and put food on the table."
'Her story, her life, her aspirations and struggles...' 'Indian weddings are not just about fuschia, pink and dancing. They have many nuances.'
Raising overseas debt has become prohibitively expensive due to the depreciating rupee.
From toys, footwear and furniture to insulated flasks, smart meters, and air coolers - the Central government over the last decade has mandated higher standards for production and imports of such items. Sample this: Till 2014, there were 14 Quality Control Orders (QCOs) covering 106 products. By the latest count, there are 156 QCOs on 672 products.
I'...additional concessions, such as opening government procurement, reducing agricultural subsidies, weakening patent protections, and allowing unrestricted data flows -- demands India has resisted for decades.'
India and the United States will finalize the contours, schedule of negotiations, and terms of reference for a proposed bilateral trade agreement (BTA) during a three-day meeting beginning Tuesday. The agreement is expected to be finalized in two tranches, with the first phase focusing on goods trade. The US team, led by Assistant US Trade Representative for South and Central Asia Brendan Lynch, will be in India from March 25-29 to discuss the agreement. Both countries are aiming to conclude the first phase of the agreement by fall 2025.
IIT Kanpur has announced a breakthrough in stealth technology, which would make tanks and fighter aircraft invisible, or near-invisible to enemy radar.
eclined for the third month in a row in January, falling by 2.38 per cent year-on-year to $36.43 billion, while the trade deficit widened to $22.99 billion in the month. Imports rose by 10.28 per cent year-on-year to $59.42 billion in January due to an increase gold shipments, according to the Commerce Ministry data. The trade deficit was $21.94 billion in December and $16.55 billion in January last year.
It argued that the duty reduction will not lead to revenue loss for the government.
'The US has agreed to negotiate with us a mutually beneficial bilateral trade agreement, which will go for reduction of tariffs on both sides so that our trade can grow.'
'The package will help in realising the true potential of employment generation in the textile and apparel sector.'
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