100-day agenda: Commerce ministry pushes for separate logistics department
The European Union's (EU's) offer to slash tariffs on 97.5 per cent of Indian chemical exports to zero is set to give India's pharmaceutical and medical device firms preferential access to the European markets.
Prabhu was moved out of the important railway ministry and was handed over the commerce and industry portfolio in the Cabinet recast.
A delegation led by Commerce and Industries Minister Piyush Goyal will visit the United States for trade talks on September 22, the commerce ministry said on Saturday.
New Zealand has liberalised mobility provisions under the concluded trade pact, enabling Indian students to access longer post-study work visas and allowing 5,000 Indian professionals, including yoga instructors and chefs, to work in the Oceania country.
After recording negative growth for two consecutive months, India's merchandise exports to the US rose 22.61 per cent to $6.98 billion in November despite steep 50 per cent tariffs on domestic goods, according to commerce ministry data. Imports during the month grew 38.29 per cent to $5.25 billion, the data showed.
Tea planters in Darjeeling have raised that a shortage of commercial LPG, triggered by the ongoing conflict in West Asia, could hit tea processing during the first flush, the delicate early-season harvest that commands the highest premiums and often sets the tone for the year.
India has protected the interest of domestic farmers and MSMEs by not extending any duty concessions on products across several sectors, including agricultural items such as dairy, as well as chocolates, gold, silver, jewellery, footwear, and sports goods, under the trade pact with Oman.
Commerce and Industry Minister Piyush Goyal announced that an interim trade agreement between India and the US is likely to be signed in March and operationalised in April, with chief negotiators meeting in Washington to finalize the details.
New Zealand has taken a binding commitment under its Free Trade Agreement (FTA) with India to amend its laws within 18 months of the pact's implementation to facilitate the geographical indication (GI) registration of Indian goods besides wines, and spirits in the island nation. The current GI law of New Zealand only allows India's wines and spirits to be registered.
Customs regimes can lead to labyrinthine legal disputes. Budget 2026 must recognise that an excessively defensive Customs posture can itself become a trade barrier, point out Mukesh Butani and Shankey Agrawal.
The Cabinet can take a decision on the matter only after the Election Commission's approval.
With the Iran war escalating sharply and crisis deepening in the global energy market, India on Monday unveiled a coordinated plan to support exporters and shippers caught in the fallout.
Quota-based duty concessions granted by India to New Zealand for apples, kiwifruit, and Manuka honey are linked to the delivery of agriculture productivity action plans committed by the island country under the free trade agreement.
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 commerce ministry on Tuesday said the discussions with visiting US Chief Negotiator Brendan Lynch on the proposed bilateral trade agreement were positive and forward looking.
'I don't think we should ever negotiate with deadlines or hard stops because we tend to make mistakes then.'
External Affairs Minister S Jaishankar addressed the Rajya Sabha on India's position regarding the escalating conflict in West Asia, emphasising the need for peace, dialogue, and the safety of civilians, while also prioritising India's energy security and trade interests.
'As long as apps show impossible delivery times, delivery and packaging workers will be pressured to meet unsafe, unhealthy standards.'
Prime Minister Narendra Modi will visit Israel to enhance defence and trade cooperation amid Middle East tensions. Discussions will include defence, security, and the situation in Gaza.
With the India-US trade talks moving in the right direction, Commerce and Industry Minister Piyush Goyal is expected to visit Washington soon, sources said.
The last rites of veteran Congress leader and former Union minister Shivraj Patil were performed with full state honours in his home district, Latur, in Maharashtra on Saturday, with many top leaders in attendance.
Prime Minister Narendra Modi is scheduled to visit Israel for two days to discuss bilateral and regional issues, marking his second visit to the Jewish state and highlighting the growing strategic partnership between India and Israel.
Eternal-owned quick-commerce firm Blinkit has dropped its '10-minute' delivery claim after intervention by the Labour Ministry amid growing concerns over the welfare and safety of delivery workers.
India's gems & jewellery exports witnessed 30.6 per cent year-on-year (Y-o-Y) contraction in October to $2.17 million, amid the imposition of a steep 50 per cent tariff by the United States (US) on several Indian products.
Lavrov said that the US has set itself the objective of 'achieving economic domination', adding further to it that Americans want to control the routes to leading countries to provide its energy sources to them.
The Indian team has returned from the US after holding trade talks with their American counterparts in New York, an official said on Thursday. Commerce and Industry Minister Piyush Goyal, who led the team, will be back on Friday.
In a major policy reversal, the AAP government wrote to the Centre to withdraw approval given by previous Congress government for FDI in multi-brand retailing in Delhi, saying the entry of global chains such as Walmart and Tesco in India would result in large-scale job losses.
The Indian government informed Parliament that India and the US are engaged in negotiations for a mutually beneficial multi-sectoral bilateral trade agreement. The two countries also cooperate on strategic, economic, and defense matters, managing divergences through high-level dialogues.
MEA spokesperson Randhir Jaiswal said India's energy decisions are guided by national interest.
Mexico on Thursday imposed a tariff of up to 50 per cent on imports from its non-preferential trade partners, including India, a move that might hit New Delhi's annual $5.75 billion shipments to its third-largest car export market.
Among Sensex firms, State Bank of India, Bharat Electronics, Kotak Mahindra Bank, Maruti, Trent and UltraTech Cement were the major gainers. However, Bajaj Finserv, Titan, ITC and Tata Steel were among the laggards.
The first phase of the proposed India-US bilateral trade agreement (BTA) is 'nearing closure' and would address the hefty 50 per cent tariffs imposed by the Trump administration on Indian goods, in addition to resolving America's market access issues, a government official said on Monday.
The government has infused over Rs 3,100 crore into women-led startups over the past six years, through its three schemes including the Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS), and Credit Guarantee Scheme for Startups (CGSS) to boost female entrepreneurship across the country, according to an update shared by the Ministry of Commerce and Industry.
Senior officials from India and China's foreign ministries met in Beijing to discuss bilateral ties following a meeting between Prime Minister Modi and President Xi.
New Delhi will substantially reduce tariffs on industrial and agricultural goods while continuing to protect sensitive sectors. Tariffs on some agricultural products that are not traditionally considered sensitive will be brought down to zero, while in the case of relatively sensitive items, duties will be reduced in a graded manner and quotas will be imposed.
India's merchandise exports grew in the first three weeks of November compared with the same period last year, according to preliminary government data, Commerce and Industry Minister Piyush Goyal said on Tuesday. The uptick comes despite globa
India has implemented a number of free trade agreements with developed nations and is in active dialogue for such pacts with nations including the US, Oman, and the EU, Commerce and Industry Minister Piyush Goyal said. India has implemented trade pacts with Australia, the UAE and EFTA bloc. It has also signed an agreement with the UK.
The agreement addresses non-tariff barriers and promotes increased trade in technology products and cooperation between the two countries.
India's exports rose 6.7 per cent to $35.1 billion in August annually, while imports declined 10.12 per cent to $61.59 billion, according to government data released on Monday. Gold imports were down nearly 56 per cent in August, helping to trim merchandise trade deficit to $26.49 billion in August, as against $35.64 billion in the year-ago month.
