GAGA B2B - CONNECTING IMPORTERS AND EXPORTERS

[ad_1] New Delhi: India’s overall goods and services exports are expected to reach $1 trillion in FY26 aided by more trade agreements with key trade partners coming into force amid Indian export consignments having gradually started moving through the Red Sea route again, Federation of Indian Export Organisations (FIEO) said Tuesday.In 2024-25, India’s exports were $825 billion. FIEO President S C Ralhan said that merchandise exports will increase to $525-535 billion this fiscal from $437 billion, led by electronics, agriculture and petroleum products while services exports are seen rising to $465-475 billion from $387 billion.Another factor will be the foreign buyers particularly in the US looking beyond China to source their goods. India could also get some of China’s business including companies like Apple, due to its ongoing trade conflict with the US but it may be limited to around $5 billion, the body said.The main sectors which can help push the exports include electrical...

[ad_1] Commerce and industry minister Piyush Goyal Tuesday asked exporters to increase the utilisation of free trade agreements (FTAs) and discussed non-tariff barriers at a meeting with export bodies and industry. The proposed centralised exporters portal, India's trade pact talks with the EU and the US, and ways to further boost exports of services and value-added goods were also discussed."Met representatives of all Export Promotion Councils (EPCs) & Industry Associations and discussed emerging global opportunities for India. Also, encouraged them to create a facility that makes Indian exporters easily discoverable by overseas buyers to further boost our country's exports," Goyal said in a post on X."Non-tariff barriers were discussed during the meeting," said an official.Industry representatives said support could be provided to exporters to deal with EU regulations like the Digital Product Passport (DPP).The DPP, which is to be implemented by...

[ad_1] New Delhi: India's duty cuts on British automobile imports are largely in the premium segment and the Carbon Border Adjustment Mechanism (CBAM) is not part of the bilateral free trade agreement, a UK official said.Under the India-UK FTA, tariffs for a limited quota of vehicles will be lowered to 10% from the current more than 100%.The two sides have protected each other's sensitivities, the official said, adding that the dairy sector is sensitive for India while sugar and milled rice are sensitive for the UK."Legal scrubbing of thousand pages of the treaty will be done. It takes 2-3 months for legal checks and about a year to get it through parliament," the official said.While the UK has offered mobility commitments to annually allow a combined 1,800 yoga instructors, classical musicians, chefs and independent professionals under the pact which was concluded early this month, the official said there is "no real effect on the UK's migration syste...

[ad_1] The finance ministry said a successful India-US trade deal could “flip current headwinds into tailwinds,” opening up access to new markets and bolstering exports. The ministry flagged potential trade barriers in the wake of the additional 26% tariffs proposed by the US as a “key external vulnerability” in its monthly economic review for April that was issued on Tuesday. Private capital expenditure could lag, with firms adopting a more cautious stance amid global uncertainty and tighter financial conditions, it said, underscoring importance of a balanced trade agreement with the US. Commerce and industry minister Piyush Goyal recently met US commerce secretary Howard Lutnick in Washington DC, their second meeting within a week, to carry forward negotiations on a trade deal.Some experts expect the accord to be in place by early July, before expiry of the 90-day pause on tariffs that US President Donald Trump announced in April. The US remained India's top trading partne...

[ad_1] Foreign Secretary Vikram Misri met Under Secretary Jeffrey Kessler on Wednesday and discussed advancing India-US cooperation in critical and emerging technologies. The two officials also discussed the early convening of the India-US Strategic Trade Dialogue, to further strengthen bilateral collaboration in the technology and trade sectors.Sharing a post on X, the Indian Embassy in Washington wrote, "Foreign Secretary Vikram Misri met Under Secretary Jeffrey Kessler to advance India-US cooperation in critical and emerging technologies. They also discussed early convening of the India-US Strategic Trade Dialogue to deepen tech and trade collaboration."Misri is currently in the United States for a three-day visit, scheduled from May 27 to 29, during which he will meet with senior administration officials to discuss key areas of bilateral cooperation.According to the Ministry of External Affairs statement, Misri's visit to Washington DC follows Prime Minister Na...

[ad_1] A bilateral trade deal between India and the United Kingdom could be signed after three months and will take over a year to implement, an Indian government official said on Thursday. New Delhi and London concluded talks for a free trade deal on Tuesday, closing a long-coveted deal between the world's fifth and sixth largest economies. India - the world's third largest car market - has offered separate import quotas to Britain for combustion engine vehicles and electric cars, the official said, and tariff cuts on the vehicles will be offered in a phased manner. The quotas have been offered based on engine capacity and car prices, while "cheaper" cars have been kept out of the deal, the official added without elaborating.They spoke on condition of anonymity as the details of the pact have not been made public.Live Events The countries clinched the deal in the shadow of erratic tariffs imposed by U.S. President Trump, which have threatened to upend the stab...

[ad_1] India has not included the MIP (minimum import price) provision for British alcoholic beverages in the free trade agreement between the two countries as demanded by domestic liquor manufacturers, a government official said on Thursday. The domestic industry has consistently sought a level playing field through the inclusion of an MIP, arguing that it would help curb dumping and under-invoicing by foreign companies. "There is no MIP for the sector in the trade agreement," the official said. However, the official said the import duty concessions granted to Scotch whisky under the pact will not significantly impact the domestic market, as the reductions will be implemented gradually over a 10-year period. "We have followed a pragmatic approach. The duty cut will not hurt Indian industry and consumers, and in fact, it will create jobs in the bottling segment," the official said. As per the agreement, India will reduce duty on UK whisky and gin from 150 per...

[ad_1] India will reduce import duties on medical devices covered in the production-linked incentive (PLI) scheme only from the sixth year onward, under its free trade agreement with the UK, a government official said on Thursday. The conclusion of negotiations for the agreement was announced by both sides on May 6. It is aimed at boosting bilateral trade in goods and services to USD 120 billion in the next five years from the present USD 60 billion. "Aligning the consumer needs with the Make in India programme, only duty reduction from the sixth year (no elimination) offered on medical devices coming under the PLI," the official said. While the import duty on the sector is up to 7.5 per cent in India, it stands at 4.2 per cent in the UK. Some industry experts have raised concerns that a reduction in the duty may lead to the dumping of these items from countries like China. To curb this, India should impose high value-addition norms for the sector to allow imports at c...

[ad_1] Days after confirming a "landmark" Free Trade Agreement (FTA) with India, British Prime Minister Keir Starmer on Thursday chose a Tata Motors-owned Jaguar Land Rover (JLR) factory in northern England to announce a "historic" trade deal with the US. Following a phone call with President Donald Trump, Starmer addressed JLR workers in Solihull to highlight the "big win" for the automotive industry as a result of car export tariffs being cut from 27.5 per cent to 10 per cent. This will apply to a quota of 100,000 UK cars, almost the total number Britain exported last year. "We are the first country to secure such a deal with the United States and in an era with global insecurity and instability that is so important," said Starmer. "We are sending a message to the world that Britain is open for business, striking trade agreements with India on Tuesday, with the US today and working to boost trade with other partners too, includin...

[ad_1] India has included adequate safeguards in the free trade agreement with the UK to protect its sensitive sectors and in the automobile segment, the import duty will be reduced over 10-15 years, a government official said on Thursday. The official also said that the duty concession on imports of petrol and diesel engine vehicles from the UK is limited to a pre-defined quota. Similarly, the quota for imports of British electric vehicles (EVs) at a concessional rate of customs duty is limited only to a "few" thousand. India and the UK on Tuesday sealed a landmark free trade agreement that will lower tariffs on 99 per cent of Indian exports and would make it easier for British firms to export whisky, cars and other products to India, besides boosting the overall trade basket. The aim is to double the two-way commerce by 2030 from the present USD 60 billion. Tariffs on automotive imports will be reduced from over 100 per cent to 10 per cent under quotas on both sid...

[ad_1] The recently concluded Free Trade Agreement (FTA) between India and the United Kingdom is expected to benefit both nations economically and could also pave the way for similar agreements with other countries such as the United States and the European Union, says a report by Bank of Baroda.The report noted that while the UK may not be among India's top trading partners at present, the FTA marks a significant step forward. It sets the stage for deeper trade relations with major global economies and is a strong signal of India's commitment to boosting international trade.It said, "While UK per se is not a very significant trading partner for India, this paves the way for similar agreements with other countries like USA and EU and hence, augurs well for India."India and the UK have announced the successful conclusion of this mutually beneficial FTA, calling it a modern, comprehensive, and forward-looking agreement.The report also stated that the deal is alig...

[ad_1] India has offered to slash its tariff gap with the U.S. to less than 4% from nearly 13% now, in exchange for an exemption from President Donald Trump's "current and potential" tariff hikes, two sources said, as both nations move fast to clinch a deal. This would mean that the average tariff differential between India and the U.S., calculated across all products without weighting for trade volume, would be reduced by 9 percentage points, in one of the most sweeping changes to bring down trade barriers in the world's fifth largest economy. The United States is India's largest trading partner, with bilateral trade totalling some $129 billion in 2024. The trade balance is currently in favour of India, which runs a $45.7 billion surplus with the U.S. Trump announced on Thursday his administration's first "breakthrough deal" with Britain. It lowers average British tariffs on U.S. goods but keeps in place the 10% base tariff imposed by Washing...

[ad_1] India has decided to impose an anti-dumping duty of up to USD 664 per tonne on a type of solar glass imported from China and Vietnam. The move is meant to protect Indian manufacturers from very cheap imports that are hurting their business.This decision comes after a detailed investigation by the Directorate General of Trade Remedies (DGTR), which works under the commerce ministry. The investigation found that China and Vietnam were selling large amounts of solar glass in India at very low prices, which affected Indian producers badly.The glass in question is called Textured Toughened (Tempered) Coated and Uncoated Glass, but it is also commonly known as:Solar GlassLow Iron Solar GlassSolar PV GlassHigh Transmission Photovoltaic GlassTempered Low Iron Patterned Solar GlassThis glass is mainly used in making solar panels.How much is the duty?The anti-dumping duty will be between USD 570 and USD 664 per tonne. It will be in effect for five years starting from 4 December 202...

[ad_1] The five-day talks between India and New Zealand for a proposed Free Trade Agreement (FTA), aimed at boosting bilateral trade and investment, will conclude on Friday, an official said. After a gap of about ten years, the two countries on March 16, 2025 announced resumption of negotiations for the FTA. "The first round of negotiations started on May 5 here, (New Delhi)" the official said. India and New Zealand began negotiating the Comprehensive Economic Cooperation Agreement (CECA) in April 2010 to boost trade in goods, services, and investment. However, after ten rounds of discussions, the talks stalled in February 2015. With bilateral trade continuing to grow steadily, surpassing USD 1 billion during April-January 2025, the FTA would help unlock new avenues for businesses and consumers. According to the think tank Global Trade Research Initiative (GTRI), a major challenge in the renewed talks will be the disparity in tariff structures. Live Events New Zeala...

[ad_1] Free Trade Agreements (FTAs) are making India more competitive with markets like the United States of America, China and Brazil, said an official of the Commerce Ministry.According to APEDA, in processed food, India will gain ground over the USA, China, and Thailand. We will become more competitive than the USA, China, Thailand, and Vietnam in bakery items, said an official.With fresh grapes, India will gain a competitive advantage over Brazil, and we will match the top exporters like Egypt and South Africa.Similarly, in preserved vegetables like fruits and nuts, we will be competitive against Turkey, Pakistan, South Africa and China.Meanwhile, in fresh and chilled vegetables, we will be more competitive with the US, Brazil, Thailand, and China. For sauces and prepared sauces, we will have a competitive advantage and a better position against the USA, Japan, China, Thailand, and Malaysia.Live EventsAccording to the Commerce Ministry, India's exports of goods and servi...

[ad_1] The India-UK Free Trade Agreement (FTA) marks a strategic deepening of the $60-billion trade relationship between the two countries, with gains for Indian exports of textiles, footwear, carpets and marine products, which currently face 4-16% tariffs in the UK. Similarly, Indian consumers will get to enjoy the benefits of lower duties on Scotch whisky and British cars. However, there is still some time for your coveted Range Rover to get a duty cut. ET's Kirtika Suneja explains measures the government has taken to protect domestic industries...When will the two countries be able to reap the benefits announced in the FTA? The text of the FTA will take some more time to be finalised. Once ready, it would undergo 'legal scrubbing' or vetting by lawyers from both sides before the signing. This process may take about three months. After that, the UK parliament is expected to take another year to ratify the pact for its implementation.How has India protected its dome...

[ad_1] New Delhi: India's plastic credit market could grow to $1.67 billion by 2030 from $982 million now, bolstered by the mandate under the extended producer responsibility (EPR) for plastic producers, importers and brand owners to use recycled content in their plastic packaging, say industry experts. They also flagged challenges in the procurement of plastic for recycling and issues with the price discovery mechanism in the credit market.Organisations can buy and sell plastic credit, a tradable unit representing the collection and recycling of plastic waste. The mandate to use recycled content in plastic packaging came into effect on April 1 this year. "The trajectory of the plastic credit market will mirror the rapid growth in plastic recycling services," said Saunak Saha, partner, Climate Change and Sustainability Services at EY India. "As per the Plastic Credit Market Forecast of 2024, the Indian plastic recycling services market is projected to be value...

[ad_1] New Delhi: India and Chile have signed the terms of reference to negotiate a comprehensive free trade pact.The two countries implemented a preferential trade agreement in 2006 and are now planning to widen its scope for a comprehensive economic partnership agreement (CEPA).The proposed CEPA seeks to encompass a broad range of sectors, including digital services, investment promotion and cooperation, MSMEs and critical minerals, the commerce and industry ministry said."India and Chile signed the ToR for a CEPA today, marking a significant advancement in their bilateral trade relations," the ministry said in a statement Wednesday. Both sides reiterated their shared vision for strengthening bilateral relations and look forward to fruitful discussion during the first round scheduled for May 26-30 in New Delhi, it said.As per the statement, an expanded preferential trade agreement was signed in September 2016 and became effective from May 16, 2017. In April 2019, bot...

[ad_1] The recently concluded limited trade deals between the United States and the United Kingdom present clues about the kind of trade arrangements Washington may pursue with India, the Global Trade Research Initiative (GTRI) said, cautioning the Indian negotiators.On Thursday, two countries announced a limited bilateral trade agreement that will soften the impact of US tariffs on many products that originated from the UK.Under the agreement, the US will reduce tariffs on several key British exports. Tariffs on cars have been cut from 27.5 per cent to 10 per cent for up to 100,000 vehicles annually, matching the UK's current export levels to the US.Additionally, 25 per cent tariffs imposed on UK steel and aluminum under Section 232 have been fully eliminated. Aerospace trade has also received a boost, with tariffs dropped on UK-made components like Rolls-Royce jet engines.On the other side, the UK will open its market to more US agricultural exports. It has removed a 20 pe...

[ad_1] India and the UK earlier this week announced that they have concluded the negotiations for a free trade agreement to boost economic ties between the two countries. The talks commenced in January 2022. It is aimed at doubling the bilateral trade in goods and services from USD 60 billion at present to USD 120 billion by 2030. The trade pact will provide enhanced market access for a wide range of Indian goods and services in the UK. Similarly, British firms will also enjoy comparable benefits in the Indian market. Here are a few questions and answers (Q&A) explaining the benefits of the FTA. What are the major benefits for Indian industry? The FTA ensures comprehensive market access for goods in all sectors, aligning with India's export interests. India will benefit from import duty elimination on around 99 per cent of tariff lines (or product categories), covering nearly 100 per cent of trade value. It offers huge opportunities to increase bilateral trade between In...

[ad_1] T he United States of Aam-erica has a new ruler. Kesar, the saffronhued native of Gujarat, has toppled from the throne the long-reign - ing king, the delicate Alphonso, in the US, which has emerged as India’s biggest mango market.Between April 2024 and January 2025, India exported mangoes worth $24.97 million to US, which overtook the United Arab Emirates (at $20.78 mil - lion) for the first time to become the largest destination for Indian man - goes, according to data from the com - merce ministry. The figure includes fresh, dried and pulp mangoes. This coincided with another tri - umph. In the category of fresh man - goes—which excludes dried slices and pulp—Kesar exports to the US were worth $4.63 million, beating to a pulp Alphonso, whose exports were worth about $2.85 million, in the first nine months of the last fiscal year. Banganapalli, a variety from Andhra Pradesh known for its pleas - ant aroma and fibre-free pulp, was third, with exports valued at $1.43 mil -...

[ad_1] Finance Minister Nirmala Sitharaman on Sunday said India is "actively engaging" with the new US administration and hopes to conclude the first tranche of the bilateral trade agreement "positively" by fall (September-October) this year. "We are one of the countries which is actively engaged with the new administration of the United States of America to see how best we can get a bilateral trade agreement done," she said during an interaction with the Indian diaspora here. Earlier this year, US President Donald Trump and Prime Minister Narendra Modi agreed to launch talks for a bilateral trade deal amid the lurking fear of reciprocal tariff being imposed by Washington. "Equally, the priority that we gave to engage with the government here is more than obviously seen with the Prime Minister himself visiting the United States in February. You had the Commerce and Trade Minister come. I have come here because I also have the IMF and World Ba...

[ad_1] India and the United States have moved a step closer to a comprehensive trade deal after finalising the Terms of Reference (TOR) that will guide upcoming negotiations. The announcement was made in a joint statement after US Vice President JD Vance met Prime Minister Narendra Modi during his visit to India.Ambassador Jamieson Greer, the US Trade Representative, confirmed the development. “I am pleased to confirm that USTR and India’s Ministry of Commerce and Industry have finalised the Terms of Reference to lay down a roadmap for the negotiations on reciprocal trade,” he said in a statement released by the Office of the United States Trade Representative.Greer noted the need for balance in the trade relationship. “There is a serious lack of reciprocity in the trade relationship with India. These ongoing talks will help achieve balance and reciprocity by opening new markets for American goods and addressing unfair practices that harm American workers,” he added.Diplomatic o...

[ad_1] Prime Minister Narendra Modi is set to make a landmark visit to Saudi Arabia on Tuesday, becoming the first Indian prime minister in four decades to set foot in the port city of Jeddah. The high-profile visit comes at the invitation of Saudi Crown Prince and Prime Minister Mohammed bin Salman Al Saud and signals a renewed chapter in the India-Saudi partnership.During the prime minister's visit, Modi and the Crown Prince will co-chair the second meeting of the India-Saudi Strategic Partnership Council, a forum established during the prime minister’s 2019 visit to institutionalize deeper engagement between the two nations.Six pacts ready to be signed — more may followAccording to high-level sources cited by news agency PTI, India and Saudi Arabia will ink at least six key memoranda of understanding (MoUs) during Modi's visit. These will cover vital sectors including space exploration, energy, healthcare, scientific research, culture, and advanced technology.“Negotia...