The neighbouring country has to abolish the negative list of 1,209 tradable items.
'A less tense US-China relationship would make Beijing less likely to provoke India -- including on the border -- in retaliation for its close defence ties with the US.'
Prime Minister Narendra Modi and United States President Donald Trump on Monday vowed to work towards a 'trusted' partnership with a focus on boosting India-US cooperation in areas of trade, energy and defence in their first phone conversation since the American leader's inauguration last week.
Japan and India signed a 5-point action agenda to increase bilateral trade and investment between the two nations.
A top Bush administration official has said that there is "tremendous potential" for the growth of US-India trade and hoped that the two countries would work together for a strong Doha Round Agreement.
'If Washington has to balance Chinese power, she will have to turn to the third biggest power in the world which is India.' 'The United States and India will have to work together in order to keep Chinese ambitions in check.'
Prime Minister Narendra Modi concluded his visit to the United States after holding high-level bilateral talks with President Donald Trump on a wide range of subjects, including trade and technology, defence and security, energy and people-to-people ties. The two leaders decided to take a significant step in deepening their strategic ties, particularly in the areas of defence, energy, and critical technology. Modi also met with key American officials, including National Security Advisor Michael Waltz and Director of National Intelligence Tulsi Gabbard, and prominent business leaders like SpaceX CEO Elon Musk and Indian-American entrepreneur Vivek Ramaswamy.
Iran has offered to help India meet its energy needs by relaunching rupee-rial trade for export of oil and gas, said Iranian ambassador to India Ali Chegeni. Chegeni said if both the countries resume rupee-rial trade, bilateral trade can touch $30 billion. Iran used to be India's second largest oil supplier but New Delhi had to halt imports after the former US president Donald Trump withdrew from the nuclear deal with Iran and re-imposed sanctions on its oil exports.
India's export basket for Pakistan has a limited portfolio as Pakistan has not given 'most favoured nation' status to New Delhi and such goods have ready market in South Asia and the Middle East.
In what looks like a game-changer in ties between India and Pakistan, the two countries on Thursday vowed to take their $2-billion bilateral trade to the next level.
Sino-Indian trade is set to cross the $10 billion-mark this year for the first time and New Delhi is determined to further diversify and strengthen bilateral ties, Indian Ambassador to China, Nalin Surie has said.
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.
The Reserve Bank of India (RBI) has given its approval to two Russian banks for opening special vostro account for rupee trade. Sberbank, JSC VTB - the largest and second largest bank of Russia - are the first foreign lenders to receive this approval after the central bank announced the norms on INR trade in July. Both lenders have branch presence in India. Earlier this month, state-run UCO Bank received the RBI's approval to open a special Vostro account with Gazprombank of Russia. While the Kolkata-based lender is in the process of opening the account, the bank has received requests from various foreign lenders for opening such an account.
While India does not figure in the top 10 export destinations for Pakistani goods, it serves as a crucial channel for select goods such as leather hides and cheaper variants of fertilisers that are generally procured by importers at short notice.
External Affairs Minister S Jaishankar says Operation Sindoor conveyed India's resolve to act against terrorism, following UN Security Council's call to bring Pahalgam attackers to justice.
'We remain in touch with the Chinese side, in Beijing as well as in Delhi, to bring predictability in the supply chain.'
The Union Cabinet on Wednesday approved the signing of a comprehensive economic cooperation agreement, a kind of a free trade pact, between India and Mauritius which is aimed at liberalising norms to boost two-way commerce
There was no talk at all from the Pakistan side to grant the most-favoured nation status to India or trimming its negative list of items even as both sides decided to double bilateral trade to $6 billion by 2014.
India and the US are set to address some of the prickly issues that have acted as major irritants in the commercial relations between both countries recently, to ensure greater flow of trade and investment.
Prime Minister Narendra Modi and his Australian counterpart Anthony Albanese will hold extensive talks on Friday with a focus on boosting overall bilateral ties in areas of trade and investment, defence and critical minerals.
The decision to revise the target by $10 was taken in New Delhi at the India-Africa Ministers Round Table conference chaired by Commerce, Industry & Textiles Anand Sharma.
'By his words, actions, and body language during their joint press appearance wanted to convey his personal respect and, more broadly, his desire to work closely with India.'
S&P Global Ratings on Monday said several Asia-Pacific economies could face higher tariffs under the Trump administration, while India, South Korea, and Thailand could be most vulnerable to trade retaliation. In its report titled 'Asia-Pacific Economies Likely To Be Hit By US Trade Tariffs', S&P said economies like Vietnam, Taiwan, Thailand, and South Korea have relatively greater economic exposure to the US, meaning that tariffs, if imposed, would have the largest economic impact.
The US wants India to recognise internationally accredited labs, harmonise labelling requirements and the validity period of test reports and certification with global practices, and eliminate retesting requirements.
India, President of the G20, will host global leaders for the Summit scheduled to take place on September 9 and 10 in New Delhi.
Resuming trade talks after a gap of five years, India and Japan on Friday committed themselves to enhance the miniscule $3.5 billion bilateral trade and resolved to address impediments like the rigid labour laws.
India will sign a Comprehensive Economic Partnership Agreement (Cepa) with Japan on Wednesday, setting the stage for free bilateral trade of goods and services.
The US asked India on Monday to reduce barriers for increasing bilateral trade and expressed hope of forward movement in the stalled WTO talks.
The Foxconn move may have been prompted by the Chinese government's focus on strengthening its supply chain.
Dubbing many of the existing barriers in Indo-Pak trade as "meaningless", Communications and IT Minister Arun Shourie on Wednesday said that the potential for bilateral trade was tremendous.
Citing the latest statistics from Eurostat, the ministrysaid trade between China and the European Union totalled Euro35.6 billion ($49.4 billion) in July, allowing the countryto overtake the US.
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.
Raising concerns over India's slow pace of trade liberalisation, the United States said on Thursday that it was apprehensive about India's surplus in bilateral trade.
Bilateral investment flows have grown immensely with foreign direct investment into India from the US reaching $28.2 billion last year.
'Don't play the American game... India is too big for a US game.'
However, the countries did not take up the issue of proposed withdrawal of export incentives by the US to Indian exporters under Generalized System of Preference.
Trade and economic issues, including visa, totalisation pact and impediments hampering investments, are likely to figure at Monday's US-India CEO Forum meeting, which will be jointly addressed by visiting US President Barack Obama and Prime Minister Narendra Modi.
India on Thursday welcomed Kabul's firm rejection of attempts to create distrust between India and Afghanistan during a phone conversation between External Affairs Minister S Jaishankar and acting Afghan Foreign Minister Amir Khan Muttaqi.
