GAGA B2B - CONNECTING IMPORTERS AND EXPORTERS

[ad_1] US Vice President JD Vance on Tuesday urged India to lower certain non-tariff barriers that restrict market access for American companies, calling it a necessary step toward concluding a comprehensive trade agreement between the two countries. “India should consider dropping some of the non-tariff barriers for American access to the Indian market,” Vance said during a public address in Jaipur.The comments come amid a report by Financial Times that the United States may be stepping up pressure on India to allow full access to its $125 billion e-commerce market for American firms such as Amazon and Walmart-owned Flipkart. The move is part of Washington’s renewed push for a “fast-paced” reciprocal trade deal with New Delhi.Also Read: Trump govt may press India to give Amazon, Walmart's Flipkart full access to $125 bn e-comm market“Our governments are hard at work on trade agreements, and we’ve already finalised the terms of reference for a deal," Vance added.Live Ev...

[ad_1] Palm oil demand from top global buyers China and India is expected to increase as the vegetable oil is now reasonably priced compared to its rivals, the Malaysian Palm Oil Council (MPOC) said on Tuesday. Palm oil is now considered "reasonably priced" at 3,900 ringgit ($889) per metric ton, the MPOC said in a statement, adding that prices are expected to remain supported at that level, underpinned by a recovery in soybean oil prices. Crude palm oil had commanded a premium over crude soybean oil in the past year due to the tightening of supplies from supply disruption caused by floods and as Indonesia raised its biodiesel blending mandate to 40% this year. However, supply of the vegetable oil has since improved, and output is expected to rise in the coming months, which has pressured the Malaysian palm oil contract, sending its prices down 12% this year.MPOC said China is projected to increase its palm oil imports in May and June to replenish inventories, coincidi...

[ad_1] The proposed bilateral trade agreement (BTA) between India and the US would help enhance and expand two-way trade, technology and economic ties in a mutually beneficial manner, a senior official in the commerce ministry said on Tuesday. The official said that India and the US are not just close strategic partners but are also complementary market economies. "While India and the US have deep trade and economic ties, the spread and depth of these ties still have a long way to go before they can match the true potential for economic cooperation between the two countries," the official said. India and the US are negotiating BTA with an aim to more than double the bilateral trade to USD 500 billion by 2030. "The BTA aims to enhance and expand bilateral trade, technology and economic ties in a mutually beneficial manner so that the India-US ties can deliver greater prosperity and well-being for the people of the two countries," the official said. [ad_2]...

[ad_1] India and the US have finalised the terms of reference for the proposed Bilateral Trade Agreement (BTA), laying a platform for formal negotiations to start. This is the first such framework finalised by the new Donald Trump administration for a trade deal.Highlighting "a serious lack of reciprocity" in the trade relationship between the two nations, US Trade Representative (USTR) Jamieson Greer said, "These talks will help achieve balance and reciprocity by opening new markets for American goods and addressing unfair practices that harm American workers." Prime Minister Narendra Modi and US Vice President JD Vance had met a day earlier and discussed the pact. "Goals for the US include increasing market access, reducing tariff and non-tariff barriers," the USTR said in a factsheet. Live EventsClearly Defined ToRs Goals include "negotiating a robust set of additional commitments to ensure long-term benefits," he said. Greer appreciate...

[ad_1] India has started raising palm oil purchases after a lull of five months as a correction in prices has made the tropical oil cheaper than rival soyoil, encouraging refiners to place orders to replenish inventories, four dealers told Reuters. Higher purchases by India, the world's biggest buyer of palm oil, will support benchmark Malaysian palm oil futures, which have fallen nearly 10% so far in 2025. "Indians had pulled back on buying palm oil because it was too pricey. But now that it's cheaper than soyoil, refiners are placing orders," said Sandeep Bajoria, CEO of Sunvin Group, a vegetable oil brokerage. Crude palm oil (CPO) is currently being offered at about $1,050 a ton, including cost, insurance and freight (CIF), in India for May delivery, compared to around $1,100 for crude soyoil, dealers said.Indian buyers started trimming purchases from December as palm oil's premium over soyoil jumped above $100.Live Events India imported 1.57 million ton...

[ad_1] The Reserve Bank of India's Dr Nagesh Kumar in the minutes for Monitory Policy Committee Meeting from April 7 to 9 flagged serious concerns over the ongoing trade wars, saying India's growth prospects will be affected adversely. "There is a serious risk of the world economy getting into a prolonged recession because of the trade wars and protectionism, which would also affect India’s growth prospects adversely. The WTO has already warned about the negative outlook for world trade. The global GDP growth projections for the current year are likely to be revised downwards in the aftermath of the reciprocal tariff and the trade war," said Dr Nagesh Kumar in the MPC minutes released on Wednesday.The RBI's rate-setting panel had in its latest meeting slashed India's growth to 6.5% due to headwinds from global trade disruptions that continue to pose downward risks. Taking all these factors into consideration, real GDP growth for 2025-26 is now projected...

[ad_1] The Reserve Bank on Wednesday relaxed norms to facilitate export through warehouses in 'Bharat Mart', a multimodal logistics network-based marketplace in the United Arab Emirates, that will provide Indian traders, exporters, and manufacturers access to the markets around the world. In a circular, the RBI said banks may allow exporters to realise and repatriate full export value of goods exported to 'Bharat Mart' within nine months from the date of sale of the goods from the warehouse. Further, banks have been asked to allow opening/hiring of a warehouse in 'Bharat Mart' by an Indian exporter with a valid importer exporter code without any pre-conditions, after verifying the reasonableness of the same. It also apply on remittances by the Indian exporter for initial as well as recurring expenses for setup and continuing business operations of its offices. [ad_2] Source link Follow Us: https://facebook.com/gagab2b https://youtube.com/gagab2b...

[ad_1] New Delhi: In a move to improve the granularity and accuracy of services export data, the government has introduced a new field titled 'Mode of Export of Services' in the eBRC (Electronic Bank Realisation Certificates). The e-BRC is a digital certificate issued by banks to exporters, confirming that payment for an export transaction has been received in foreign currency.This reform also aligns India's data capture policy with international norms, the Directorate General of Foreign Trade (DGFT) said in a notification.“This Directorate is introducing a new field titled ‘Mode of Export of Services’ in the eBRC format for the Services Export category, applicable for eBRC generated on or after May 1, 2025,” it said.This reform also aligns India's data capture policy with international norms under WTO (World Trade Organisation) GATS (General Agreement on Trade in Services).This new field, it said, corresponds to the four modes of services trade - cross border su...

[ad_1] India's goods and services exports are estimated to have crossed USD 800 billion in 2024-25, though merchandise shipments have remained flat, sources said. The 2024-25 figures for exports and imports will be released by the commerce ministry on April 15. The sources added that in 2025-26, the country's merchandise exports will record a positive growth. In 2024-25, the exports are "flat", the sources said. Exports are in the negative for the fourth month in a row in February due to global economic uncertainties. India's merchandise exports stood at USD 395.63 billion during April-February 2024-25 as against USD 395.38 billion in the same period previous year. Live Events The estimated value of service exports during April-February 2024-25 is USD 354.90 billion as compared to USD 311.05 billion in April-February 2023-24. [ad_2] Source link Follow Us: https://facebook.com/gagab2b https://youtube.com/gagab2b https://gagab2b.com https://g...

[ad_1] India has emerged a winner in the reciprocal tariffs imposed by the US and has a first mover advantage as compared to other countries because of the Bilateral Trade Agreement (BTA) that the two are negotiating, officials said, adding that Indian exporters are better positioned to deal with the additional US tariffs as compared to their competitors.The country, they said, will take all measures to check dumping of goods from China as Beijing is slapped with steeper tariffs and work within the World Trade Organization (WTO) framework to prevent the dumping of excess capacity into its markets by countries hit by high US tariffs.“The government is there to protect domestic industry from any possibility of dumping of goods in such a situation,” said an official.New Delhi is also exploring measures to protect sensitive sectors like dairy and agriculture amid the trade war.While the reciprocal tariffs on India are 26%, those on China are 34%. India is also likely to gain from th...

[ad_1] New Delhi: India will negotiate its trade agreements carefully and patiently in the wake of the tariffs imposed by the Donald Trump administration and protect its sensitive sectors like dairy and agriculture, officials said Saturday, citing the example of the US which is sensitive about peanut butter.“We have to be patient. Trade pacts do not happen overnight. It is a careful and steady process. Things are analysed carefully,” an official said on the condition of anonymity, adding that a slight impact on demand in the US could be a little challenging.India has “emerged a winner” following the reciprocal tariffs imposed by the United States, officials said, pointing out that the country has a first mover advantage compared to its competitors owing to of the Bilateral Trade Agreement that the two are negotiating and because Indian exporters are better positioned to deal with the additional US tariffs.They said the country will take all measures within the World Trade Organi...

[ad_1] US President Donald Trump’s ‘Liberation Day’ tariffs are pushing Chinese electronics companies such as Haier, Lenovo and Hisense to actively pursue business transformation strategies. These brands are currently exploring the possibility of exporting products to the US from Indian factories to benefit from the relatively lower tariffs, compared to their production hubs in China and Vietnam. They are also hoping the Indian government will ease stringent rules on manufacturing investments, amid recent efforts to reset diplomatic ties between New Delhi and Beijing. Currently, Press Note 3 mandates government approval for any foreign direct investment (FDI) from an entity in a country sharing its land border with India, such as China. Chinese companies have found it tough to get their investment proposals approved since a sharp worsening of bilateral ties after a border skirmish in 2020. Live EventsTwo industry executives said Haier is exploring options to import moulds from C...

[ad_1] Seafood Exporters Association of India (SEAI) president G Pawan Kumar on Sunday said the reciprocal tariffs announced by US President Donald Trump will have a severe adverse impact on Indian seafood exports to the US market, whose value stands at USD 2.5 billion in 2023-24. Out of the total seafood exports to the US, shrimps accounted for the lion's share of 92 per cent and India is the largest supplier of shrimps to the US, Kumar said. "This tariff will hurt all stakeholders in the value chain and cause all round distress," Kumar told PTI. The county will falter in export performance when compared to the South American nation Ecuador, which is levied only a 10 per cent tariff, it is believed. Vietnam with a reciprocal tariff rate of 46 per cent and Indonesia with 32 per cent will concede a massive advantage to the South American country, he said. According to Vizag-based Kumar, Ecuador is likely to replace India as the largest shrimp supplier to the US mark...

[ad_1] India will negotiate its trade agreements carefully and patiently in the wake of the tariffs imposed by the Donald Trump administration and protect its sensitive sectors like dairy and agriculture, officials said on Saturday, citing the example of the US which is sensitive about peanut butter.“We have to be patient. Trade pacts do not happen overnight. It is a careful and steady process. Things are analysed carefully,” an official said on the condition of anonymity, adding that a slight impact on demand in the US could be a little challenging.India has “emerged a winner” following the reciprocal tariffs imposed by the United States, officials said, pointing out that the country has a first mover advantage compared to its competitors owing to of the Bilateral Trade Agreement (BTA) that the two are negotiating and because Indian exporters are better positioned to deal with the additional US tariffs.They said the country will take all measures within the World Trade Organiza...

[ad_1] The imposition of high reciprocal tariffs by the US on other competing nations raises the possibility of increased dumping by those nations in India, as well as in other export markets, which could negatively impact certain sectors, CareEdge Ratings said in a report.According to the report ' Sectoral Impact of US Reciprocal Tariff: Neutral to Negative, ' the expected direct impact of US reciprocal tariffs would vary, with no impact expected on pharmaceuticals since they are exempt from reciprocal tariffs for now.According to the rating agency, the impact is expected to be largely neutral for electronics, textiles, agricultural products, chemicals, and automobiles and parts. At the same time, it would be negative for gems and jewellery.During 2023-24, India's aggregate merchandise exports to the US stood at USD 77.5 billion compared to its imports from the US at USD 42.2 billion. Out of India's total exports to the US, the sectors in descending order of val...

[ad_1] Former World Bank Chief Economist Kaushik Basu on Sunday described the reciprocal tariffs imposed on approximately 60 countries by the Trump administration as baffling, saying that while these tariffs will have some adverse effects on India, the major impact will be felt in the US. Basu further said that it is also not really a reciprocal tariff as the Trump administration calls it, it is based on the trade deficit the US has with India. "The new US tariff of 26 per cent on India is baffling. While it will have some adverse impact on India, its major negative impact will be on the US," he told PTI. Basu, currently a Carl Marks Professor at Cornell University, said it is natural for a country like the US, which has a currency that is trusted and used worldwide, to have trade deficits. "Hence, this new tariff policy looks almost like an effort to erode trust in the US dollar," he added. Basu also suggested that India should not respond by raising or lowe...

[ad_1] India is unlikely to immediately retaliate against President Donald Trump’s tariff imposition, and is focusing efforts on negotiating a bilateral trade deal with the US to bring down duties, according to a Indian government official. The South Asian country is seeking dialogue and not confrontation, the official said, adding that India has first mover advantage compared to rivals in the region. India plans to work toward a balanced and equitable trade deal with the US, the official said.All options are up for negotiation, and both goods and services will be discussed, according to the official. The government is also in touch with exporters on the expected impact and will help if they reach out. Trump last week announced a 26% tariff on US imports from India, dealing a blow to exporters and risking exacerbating a slowdown in an economy already suffering from weak consumer confidence. A lower negotiated rate could provide some relief, though escalating global trade tension...

[ad_1] The Indian toy industry is ready to take advantage of the high tariffs imposed by the US on competitors such as China and Vietnam, and the domestic players have already begun work on expanding capacity and forming joint ventures with global firms, exporters said on Sunday. They added that India has emerged as a winner in the recent US tariff hikes, as the exporters are better positioned to absorb the impact compared to competitor countries that are facing higher import duties in America. While the US has imposed an additional 26 per cent import duty on India, its competitor Vietnam is facing 46 per cent tariff, Bangladesh 37 per cent, China 54 per cent, Indonesia 32 per cent, and Thailand 36 per cent. "Huge opportunities are there for our exporters now. Vietnam's exports are about USD 6 billion and China's are USD 80 billion. Now their items will face higher duties in the US than that of Indian toys. All big toy firms are exploring opportunities to set up pla...

[ad_1] Asserting that a situation of confusion persists in the world after the recent imposition of reciprocal tariffs by the US, NSE Managing Director and Chief Executive Officer Ashish Kumar Chauhan on Sunday said India is doing much better than other countries. He said a clear situation is expected to emerge within the next one or two weeks as there will be negotiations and the duty structure will be stabilized. Talking with PTI here after paying obeisance at the revered Mata Vaishno Devi Shrine atop Trikuta hills on the occasion of Ram Navami, the National Stock Exchange (NSE) chief said it seems that the Indian share market is doing much better than other countries post the US decision on reciprocal tariff. "You must have seen the market for the last 2-3 days. America has made a decision on tax, which is applicable to every country in the world. They have also imposed new import duties for India, which is doing better than other countries," he said. Chauhan, who m...

[ad_1] Developed countries are indicating that they are ready to proceed with negotiations for proposed free trade agreements (FTAs) without insisting much on the inclusion of non-trade issues like sustainability and climate obligations, according to sources. They said gradually those countries are suggesting that "let's start business first, we will look into the rest of the extraneous issues later". In a free trade agreement negotiations, trading partners should keep all the options open so that things can move smoothly. Major countries that used to pressure on issues like sustainability and climate have now gone quiet, one of the sources said. India has always maintained issues like sustainability, labour, and the environment should be addressed in separate forums or international platforms rather than being integrated into trade agreements. The International Labour Organization (ILO) is there for for labour standards, and the United Nations Framework Convention...

[ad_1] Indian customs authorities are fast-tracking shipments headed to the US ahead of the Trump administration's April 9 deadline for 26% reciprocal tariff on New Delhi.Effective April 5, the US has imposed 10% additional duty on most goods entering the US from India unless they were already in transit. This tariff level is set to increase to 26% from April 9.Exporters are also expediting the dispatch of their consignments to the US as they seek to minimise the cost escalation and maintain trade continuity."There is a more-than-usual rush at various customs ports for US-bound shipments from the past one week," a senior official told ET. "We are trying to give customs clearance fast, mostly for perishable items."Live EventsAuthorities want to ensure that exporters do not face any unnecessary delays in clearances. "We just want to make it smooth for the business," the official said.US President Donald Trump last week announced sweeping tariffs o...

[ad_1] The environment ministry's apex regulatory panel on Genetically Modified crops cleared the way for the import of Alfalfa hay, used in animal feed, from the US back in July 2024 but it is still awaiting a final nod from the agriculture ministry - an issue raised in the on going Indo-US trade talks.While India and the US announced opening up alfalfa hay import back in 2021-22, India's final approval is still pending despite the risk assessment exercises across the ministries of health, agriculture, environment and food safety, and the Standards Authority of India (FSSAI). The delay has been a major issue from the US side and has been repeatedly raised by them at various levels.The Genetic Engineering Approval Committee (GEAC) clearance for this politically sensitive item came following a report from the scientific panel of the FSSAI that termed it a livestock safe feed as there was "no living modified organism" in the US Genetically Engineered (GE) alfalfa...

[ad_1] Developed countries are softening their stance on pushing non-trade issues such as sustainability and environment in their free trade agreement (FTA) negotiations with India, officials said-a shift that could smoothen ongoing trade talks with partners like the EU and the UK."Gradually those countries are suggesting to start business first and look into the rest of the extraneous issues later," one of the officials told ET.India has always maintained that non-trade issues like sustainability, labour and environment should be addressed at international platforms specifically meant for them.The EU and UK have been insisting on including such issues in the proposed trade agreements. Such demands have now gone quiet, officials said.The EU's Carbon Border Adjustment Mechanism and the Deforestation Regulation is such a barrier for trade.Live EventsIn February, Prime Minister Narendra Modi and European Commission President Ursula von der Leyen had agreed to conclude...

[ad_1] By kicking off the tariff war, the US has inadvertently ceded half of its dairy export market to India, according to Jayen Mehta, managing director of Gujarat Co-operative Milk Marketing Federation (GCMMF), owner of leading dairy brand Amul.Nearly 50% of the US dairy exports are to places in India's vicinity, including West Asia, North Africa, China, Southeast Asia, Sub Saharan Africa, Japan, and South Korea, he said. Some of these countries are expected to hike import duties on US products in response to President Donald Trump's high tariffs on most countries. "We believe that many of these nations would turn to an alternative dairy product supplier," Mehta said. "As the world's largest milk producer, India is well positioned to capitalise on this situation."The tariff war and emerging trade dynamics may allow India to access newer markets, diversifying its export markets.Live Events "The US dairy products will become expensive for th...

[ad_1] There’s still two weeks to go before US President Donald Trump’s April 2 deadline for imposing reciprocal taxes on imports. But New Delhi already seems to have gone into damage-control mode, anticipating the worst.Over 24 hours last week, two of India’s largest wireless carriers, whose billionaire owners were staunchly opposed until now to Elon Musk getting a free pass to enter their market, independently announced partnerships with his Starlink Inc. A top government minister even posted (and then deleted) a welcome message on X, even though the satellite broadband service is yet to obtain local regulatory approvals.Narendra Modi didn’t respond to the opposition Congress Party’s allegations that the deals were orchestrated by his administration “to buy goodwill with Trump.” But throw in the flurry of news last month around the prime minister’s visit to the White House about how India might allow imports of Tesla Inc.’s cars at a much lower duty than the 110% it charges cu...

[ad_1] India is focusing on core trade issues such as import duty and non-tariff barriers in the proposed free trade agreements (FTAs) for faster outcomes from these negotiations, Commerce Secretary Sunil Barthwal said on Wednesday. He said this approach is important as sometimes it takes "so much time" to conclude negotiations for these agreements and because of that businesses lose interests. "...the experience has been that when we look at these free trade agreements, sometimes they are so much time taking that people lose interest, the businesses lose interest. "So we are also reviewing some of these issues in the department (of commerce) as well, as we are talking to our partners who are doing FTAs with us that why can't we first look at the core trade issues, and even if it is early tranche, or even if it is first phase of that comprehensive agreement, but let there be some kind of outcome which should come out of these negotiations. So we are tak...

[ad_1] For India, the looming deadline of April 2 when US President Donald Trump's reciprocal tariffs against other countries come into effect may not be as menacing as it seems because there is little clarity on how the tariffs will be imposed and Treasury Secretary Scott Bessent has put a twist in Trump's policy. It seems the policy is a work in progress, and nobody is yet sure how it will take effect.Reciprocal tariffs roughly mean hiking rates on imports to match the level that other countries apply to US products. "If India, China, or any other country hits us with a 100 or 200 percent tariff on American-made goods, we will hit them with the same exact tariff. In other words, 100 percent is 100 percent. If they charge us we charge them — an eye for an eye, a tariff for a tariff, same exact amount,” Trump had said during his poll campaign last year.Bloomberg Economics’ Maeva Cousin and Deutsche Bank’s George Saravelos are among those who found that India’s wide ...

[ad_1] Closer bilateral and multilateral relations between the Latin American and Caribbean (LAC) countries, like Cuba and India would improve relations amongst countries in the Global South, stated Dr Eduardo Martinez Diaz, Deputy Prime Minister, Republic of Cuba while speaking at the 10th CII India-LAC Conclave with the theme of “Advancing Economic Alliances for Collaborative Growth” held in New Delhi between 19-20 March 2025. He was speaking at the inaugural session on Wednesday on “Facilitating India-LAC Trade Relations: The Way Forward”.The Minister added that India could be a partner for the LAC region in agriculture, food security, transportation, ICT, and renewable energy sectors. He also highlighted Cuba’s role as a founding member of the International Solar Alliance and underscored the importance of renewable energy cooperation between the two sides.“Our growing diplomaticfootprint in LAC is a clear indication of India’s commitment to strengthening bilateral and region...