Speaking to reporters aboard Air Force One, Trump stated, "We have a deal," referring to the trade pact which will be routinely extended. "Every year we'll renegotiate the deal, but I think the deal will go on for a long time, long beyond the year. We'll negotiate at the end of the year," he added.
India is already negotiating a bilateral trade agreement with the US. The two countries are aiming to finalise the first phase of the pact by fall (September-October) of this year.
Congress general secretary Jairam Ramesh said Modi should take inspiration from former prime minister Indira Gandhi and stand up to the president of the United States.
'Pakistan has found itself in a favourable position after Operation Sindoor by appreciating the mediation as claimed by Trump and recommending him for the Nobel Peace Prize.'
Japan is expected to increase its investment target in India from the earlier 5 trillion yen ($34 billion) to almost 10 trillion yen.
March 31 marked 10 years since the Modi government introduced its first Foreign Trade Policy (FTP 2015-20) that lasted for 8 years before the current FTP 2023 came in. Here is a brief assessment. In 2015, the government said that it aims to increase India's exports of merchandise and services from $465.9 billion in 2013-14 to approximately $900 billion by 2019-20 and to raise India's share in world exports from 2 per cent to 3.5 per cent.
Prime Minister Narendra Modi is likely to visit the United Kingdom by the end of this month, with the India-UK free trade deal expected to be formally signed. Discussions on expanding bilateral ties in defence and security are also anticipated.
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 US Trade Representative noted that India's average applied tariff rate stood at 17% per cent, the highest of any major world economy.
'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.
India's trade with China will touch the 100-billion dollar mark in the next five years, coming close to bilateral trade target with the European Union by 2013.
In his media statement following talks with his Croatian counterpart Andrej Plenkovic, Modi said both leaders agree that "terrorism is an enemy of humanity" and is inimical to forces that believe in democracy.
Officials from India and the United Kingdom (UK) are working overtime to address the contentious issues related to the proposed free trade agreement (FTA) between the two nations, in a final push to conclude the deal by the year-end. Commerce secretary Sunil Barthwal was headed to London on Thursday after completing his four-day visit to Brazil. Other key officials from India's negotiating team will be joining Barthwal in the UK capital, hoping to make headway in the FTA negotiations, which started in January last year, a person aware of the matter told Business Standard.
Credit quality of Indian corporate is expected to be stable in the second half of the current financial year (H2FY26), supported by easing monetary cycle, and declining inflation, coupled with income-tax relief and rationalisation of the goods and service tax (GST) rates, among others.
A top Republican lawmaker has welcomed India signing a trade deal with Australia, and urged the Biden administration to enter into a similar arrangement with New Delhi that can advance Washington's strong economic agenda in the strategically vital Indo-Pacific region. "I'm pleased to see #Australia & #India sign a strong trade deal," Senate Foreign Relations Committee Ranking Member Jim Risch said in a tweet. "The US needs to do the same and advance a strong economic agenda in the #IndoPacific. "The Biden Admin's failure to lead hurts US growth and our partnership in the region," Risch said in another tweet.
For UK automakers, market access to India will be limited by quantity caps and phased tariff cuts, especially on petrol, diesel and electric vehicles.
As a prelude to the proposed Free Trade Agreement, India and Bangladesh have agreed on a revised draft of bilateral trade agreement signed in 1980.
Saudi Arabia and Pakistan have signed a 'Strategic Mutual Defence Agreement', pledging that any aggression against either nation would be treated as an attack on both.
Sri Lanka's capital Colombo will host a five-day India Trade Fair this October in an effort to boost bilateral trade, officials said Monday.
'April 9 announcement of slapping a 125% tariff on Chinese goods has brought the focus back to China, making this new phase feel like a repeat of the original conflict.'
Pakistan-India Chambers of Commerce and Industry president Ilyas Ahmad Bilour has urged Prime Minister Atal Bihari Vajpayee to restore air service between the two countries to promote bilateral trade.
The two countries also signed a 'Memorandum of Agreement regarding the Assignment of Liaison Officers', which will facilitate the posting of one military officer from each country with the military of the other.
In the short run, the Trump presidency has already ensured one thing: The assumptions of the past can no longer guide the strategies of the future, points out Manish Dabhade.
Leveraging the India-ASEAN Free Trade Agreement, India wants to double its commerce with Myanmar and diversify the bilateral engagement to agro-research and natural gas exploration.
India and China have announced a series of measures aimed at improving their relationship, including maintaining peace along the border, reopening border trade, and resuming direct flights.
The Galwan clashes indicate to the limitations in relations if they do not address border stability, points out Srikanth Kondapalli.
The Galwan clashes indicate to the limitations in relations if they do not address border stability, points out Srikanth Kondapalli.
India and Chile will begin in August negotiations on the proposed preferential trade agreement to enhance bilateral trade which stood at $320 million in 2003.
'When the Galwan incident took place, that was a big break in the trust factor between India and China.'
'When Prime Minister Modi met President Trump, they agreed to initiate a bilateral trade dialogue.' 'It makes sense to give these negotiations a chance.'
Industry associations and companies in the United States, including the US Chamber of Commerce, Coalition of Services Industries and the iconic bike company Harley Davidson have called on the Donald Trump dispensation to push India to reduce tariffs, non-tariffs, and regulatory barriers to boost American exports.
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.
'Saudi-Pak defence pact is to anchor the defence and security of Saudi Arabia and not Pakistan, per se, with Islamabad being the junior partner.'
United States President Donald Trump has said India is 'very close' to China in terms of its purchases of Russian oil and will pay tariffs of 50 per cent as he indicated that 'you are going to see so much secondary sanctions'.
Nine years after New Delhi started implementing its Plan B - bilateral trade agreements - to beat the impasse at the World Trade Organisation's Doha Round of liberalisation talks, India seems to be finally rolling.
The negotiations on a EU-US FTA will set the standards not only for the future transatlantic trade and investment, including regulatory issues, but also for the development of global trade rules.
The US carmaker's entry into India is expected by the last quarter of the current financial year.
Prime Minister Narendra Modi arrived in China for the Shanghai Cooperation Organisation (SCO) summit. His meeting with President Xi Jinping is significant given global economic concerns.
The firing exchanges are taking places in five districts out of seven border districts of Jammu and Kashmir. So far, there has been no firing reports along International Border in Samba and Kathua districts.
The "construct of the DPDP Act" cannot be changed at this stage, though there may be some minor tweaks in the language of the Rules and formats in certain legitimate cases.
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