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.
India and the US have concluded the fifth round of talks for the proposed bilateral trade agreement (BTA) in Washington. Both sides are looking at finalising an interim trade deal before August 1. Issues related to agriculture and automobiles figured during the negotiations.
India is hopeful of resuming negotiations on the proposed bilateral trade agreement (BTA) with the US soon and addressing the issue of high tariffs imposed by Washington on Indian goods will be key to striking the deal, a government official said on Thursday.
The escalating trade war between the US and China is expected to benefit Indian exporters in increasing their shipments to the American market, according to experts. Federation of Indian Export Organisations (PTI) President S C Ralhan said that imposition of higher tariffs by the US on China will shift demand towards India, which exported goods worth Rs 86 billion to the US in 2024-25.
Foreign secretary Vikram Misri on Friday shared key details on agreements between India and the UAE, stating that the UAE will store up to 30 million barrels of crude oil in India's strategic petroleum reserve following Prime Minister Narendra Modi's visit.
Commerce and Industry Minister Piyush Goyal on Tuesday expressed hope that India will conclude the proposed bilateral trade agreement (BTA) with the US by the fall or November this year. He said that "a little bit" of geopolitical issues overtook the trade matters in the negotiations for the pact between the two countries.
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.
A trade deal makes sense only if it is fair and reciprocal. If the cost is strategic dependence or loss of policy space, waiting is the wiser option, asserts Ajay Srivastava.
'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'
Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal on Thursday said he is not concerned about the rupee at all, arguing that even China and Japan witnessed exchange rate weaknesses during their high growth phases.
India and the European Union (EU) on Tuesday announced the conclusion and finalisation of negotiations for the proposed free trade agreement (FTA).
United States President Donald Trump on Wednesday said that the US is 'doing a trade deal with India' as the two sides continue to hold talks on the proposed trade pact.
Greer said that India has taken down some digital services taxes and is moving tariffs down.
India and the US have entered a new phase in their relationship, marked by greater parity, point out Harsh V Pant and Vivek Mishra.
US Commerce Secretary Howard Lutnick claims a trade deal with India failed because Prime Minister Narendra Modi did not call then-President Donald Trump, despite requests.
India will now face a lower reciprocal tariff of 10 per cent, down from 25 per cent, after US President Donald Trump announced a new global levy on items imported into America in the wake of the Supreme Court verdict against his sweeping duties on several nations.
Trump administration's chief negotiator Brendan Lynch is arriving in India to hold talks on the India-US bilateral trade deal, which were impacted after the US imposed 50 per cent import tariffs on Indian goods.
'As far as the contentious issues such as agriculture are concerned, we are finding some common ground.'
Both Houses of Parliament were adjourned sine die, concluding a Budget session marked by the passage of key legislations and the defeat of a Constitution amendment bill on women's reservation. The session saw frequent opposition protests and discussions on various issues, including the West Asia conflict.
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 ruling is expected to have wide-ranging consequences for global trade, businesses, consumers, inflation trends and household finances across the country.
India and the US will sit together in the next couple of weeks to decide on the nature of the proposed trade agreement and finalise its broad contours, a senior official said on Monday. During the recent visit of Prime Minister Narendra Modi to Washington, India and the US announced to more than double the two-way commerce to $500 billion by 2030 and negotiate the first tranche of a mutually beneficial, multi-sector bilateral trade agreement (BTA) by fall of 2025.
Over the years, India-EU ties have grown, and covered trade, investment, climate change, science and technology, space, digital, mobility, and connectivity.
Import duty cuts on labour-intensive sectors such as textiles and footwear, as well as cars, and wines, are likely to be part of the free trade agreement between India and the 27-nation bloc European Union (EU), the conclusion of which is set to be announced on January 27 here, sources said.
The US is "pretty close" to reaching a "fair trade deal" with India, President Donald Trump has said, adding that he will lower the tariffs imposed on Indian goods at "some point".
'There are very few issues and a political call needs to be taken about some of them.'
India and Canada are negotiating a long-term uranium supply agreement worth $2.8 billion. They are also exploring expanded civil nuclear cooperation after the passage of the SHANTI Bill.
India and the US are likely to agree on an interim trade agreement before July 8 with New Delhi pushing for full exemption from the 26 per cent reciprocal tariff on domestic goods, an official said. The US on April 2 imposed an additional 26 per cent reciprocal tariff on Indian goods but suspended it for 90 days till July 9.
Commerce and Industry Minister Piyush Goyal will accompany Prime Minister Narendra Modi to London for the signing of the free trade agreement between India and the UK on July 24, an official said on Monday. The two countries announced the conclusion of the negotiations for the trade agreement on May 6.
India is among six countries on the priority watch list in a US report addressing the protection and enforcement of intellectual property rights.
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.
Time is running out for a possible India-Europe bilateral trade investment agreement that would be beneficial for both parties.
Both India and the EU are likely to announce a conclusion of trade talks on January 27.
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.
Hectic parleys are underway between officials of India and the US in Washington on the proposed interim trade agreement between the two countries, an official said on Wednesday.
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.
Prime Minister Narendra Modi's visit to Israel aims to strengthen the strategic partnership between the two nations, focusing on cooperation in various sectors including defense, technology, and trade.
The Indian government has dismissed the US Commission on International Religious Freedom's (USCIRF) report on religious freedom in India, stating that it does not recognise the commission's authority to comment on the rights of Indian citizens.
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.
The rupee plunged 26 paise to an all-time low of 90.75 against the US dollar in intra-day trade on Monday, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows.
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