GAGA B2B - CONNECTING IMPORTERS AND EXPORTERS

[ad_1] Our BureauNew Delhi: India and the US announced a framework for an interim trade agreement under which tariffs on "originating goods of India" will be reduced to 18% from as much as 50%. Clearing the path for a full-fledged bilateral trade agreement (BTA), the interim pact covers tariff cuts and non-tariff barriers with a broader, legally binding BTA covering goods, supply chains and digital trade. This is in line with statements issued by Prime Minister Narendra Modi and US President Donald Trump on February 2.India's exports of about $44 billion to the US will enter the American market at zero reciprocal tariffs under the first phase of the BTA, which is expected to be signed by mid-March. This will include spices, tea, coffee, copra, coconut oil, certain nuts, banana, guava, mango, bakery goods, and home decor.Indian goods worth about $30 billion will attract an 18% tariff, including those from labour-intensive sectors. There will be no change in duties o...

[ad_1] India and the US agreed on an interim trade framework that expands market access, lowers tariffs and sets the stage for a broader bilateral deal. The framework targets balanced trade, supply chain resilience and deeper technology cooperation. India intends to buy $500 billion of US energy & tech products, aircraft & parts, precious metals, tech products, coking coal over 5 years. ET takes a look:KEY GAINS FOR INDIA18% US tariff, below key competitors$44 b of Indian exports will get duty free access to the USLower duty on critical tech inputs, chips, semiconductor, aircraft, machineryZero duty on spices, tea, coffee, avocado, barley, canary seeds, bakery goods, cocoa & products, sesame seeds, poppy seeds, fruit jams & pastesNo additional duty on Section 232 goods, aircraft and machinery parts, generic drugs, pharma ingredients, elementary auto parts SECTORAL GAINSTEXTILE & APPAREL0% on silk; Market access of $13 billionEdge over others: China (35% tari...

[ad_1] Greek Defence Minister Nikos Dendias has said India has become an indispensable partner for Europe, underlining the growing strategic and economic importance of India for the European Union and Greece in particular. Speaking at the India-EU Forum 2026, Dendias said that perceptions in Europe about India had evolved significantly over time. "Maybe in the past, India was a nice-to-have but not a necessary-to-have. Now India is necessary-to-have," he said. Highlighting economic cooperation, the Greek minister expressed strong support for the proposed Free Trade Agreement (FTA) between the European Union and India, saying it would deliver substantial benefits."The Free Trade Agreement between the European Union and India, I think, will serve a huge purpose, both for Europe, and individually for Greece as well," Dendias said. Live EventsThe inaugural India-EU Forum concluded in New Delhi on Saturday after two days of wide-ranging discussions on strengthenin...

[ad_1] India and the United Arab Emirates on Monday agreed to double bilateral trade to $200 billion by 2032, unveiling a wide-ranging set of commercial and strategic outcomes covering energy security, defence cooperation, space, food exports, investment, and advanced computing.The agreements were inked during UAE President Sheikh Mohamed bin Zayed Al Nahyan's one-day state visit to New Delhi.Foreign Secretary Vikram Misri, briefing the media after talks between President Mahyan and PM Narendra Modi, said the trade target reflects the growing depth of the India-UAE economic partnership, which has expanded rapidly since the Comprehensive Economic Partnership Agreement (CEPA) came into force. The UAE has now emerged as India’s second-largest supplier of liquefied natural gas (LNG), he said.A key outcome on the energy front was the signing of a Sales and Purchase Agreement between Hindustan Petroleum Corporation Limited (HPCL) and ADNOC Gas. Under the agreement, India will rece...

[ad_1] New Delhi: India and the European Union are set to announce the conclusion of a free trade agreement, firming up of a defence partnership pact and a framework for mobility of Indian professionals at the summit talks next week, diplomatic sources said on Monday.European Council President Antonio Costa and European Commission President Ursula von der Leyen will be the chief guests at the Republic Day celebrations on January 26, and the India-EU summit will be held the next day.A military contingent from the EU, featuring the military staff flag and flags of Operations Atalanta and Aspides, the naval operations of the grouping, will feature at the Republic Day parade.It will be the EU's first participation in such an event outside of Europe, the sources said.Pressing global challenges, including the Russia-Ukraine war, the situation in the Middle East and the political developments in Venezuela, will be among the global issues that the two sides are likely to delve into ...

[ad_1] New Delhi: China has requested the WTO's dispute settlement body to set up a panel in a case it has filed against India over New Delhi's incentive schemes for auto, battery and electric vehicles after bilateral consultations failed to resolve the dispute.In October last year, Beijing alleged that certain conditions in India's Production Linked Incentive (PLI) schemes for advanced chemistry cell batteries, automobiles and the policy to promote the manufacturing of electric vehicles violate global trade rules by discriminating against Chinese goods.In a communication to the World Trade Organisation (WTO), China has stated that consultations were held on November 25, 2025, and January 6, 2026, with a view to reaching a mutually agreed solution.Unfortunately, those consultations failed to resolve the dispute, it said."China therefore requests the Dispute Settlement Body to establish a panel to examine this matter," the communication dated January 16 said...