GAGA B2B - CONNECTING IMPORTERS AND EXPORTERS

[ad_1] India should negotiate a trade agreement with the US on its own terms, keeping in view the national interest, Economic Advisory Council to the Prime Minister (EAC-PM) Chairman S Mahendra Dev has said. Dev expressed hope that India will have an advantage over other countries on tariffs once the Free Trade Agreements (FTAs) are signed, and it would boost exports. "The overall approach of India is negotiating trade agreements with countries on its own terms and keeping in view the national interests. The negotiations are going on and the ultimate decision depends on the mutual interests of both countries," he told PTI. US President Donald Trump has said the proposed trade deal with India would be on the lines of what America has finalised with Indonesia on Tuesday.Under the US-Indonesia trade pact, the Southeast Asian nation will provide complete access to its market to US products, while Indonesian goods would attract a 19 per cent duty in America.Live Events In a...

[ad_1] India and the UK are expected to sign the Free Trade Agreement (FTA) next week, a pact which aims to boost trade and investment between the two countries, an official said.The two countries announced the conclusion of the negotiations on May 6.It will remove taxes on the export of labour-intensive products such as leather, footwear and clothing, while making imports of whisky and cars from Britain cheaper, in a bid to double trade between the two economies to USD 120 billion by 2030."The process of legal scrubbing of the FTA text is going on. It is expected to be signed next week," the official said.Once the FTA is signed, it will require approval from the British Parliament and India's Cabinet before it can take effect.Live EventsThe implementation is likely to take about a year after the signing. [ad_2] Source link Follow Us: https://facebook.com/gagab2b https://youtube.com/gagab2b https://gagab2b.com https://gagab2b.com/import-export-news/im...

[ad_1] Ratings firm CRISIL said that India's goods exports are likely to face some headwinds in fiscal 2026, as reciprocal tariffs imposed by the US are seen to aggravate this.With the tariff hikes expected to come into effect from August, India and the US are negotiating on a bilateral trade agreement and a key monitorable, the report said.The World Trade Organisation forecasts a 0.2 per cent decline in the volume of merchandise trade in 2025 compared to 2.9 per cent in 2024.The report said global growth is expected to slow down to 2.9 per cent in 2025 from 3.3 per cent.Growth in the US, India's largest export destination, is projected to slow to 1.7 per cent from 2.8 per cent.Live EventsAccordingly, India's merchandise trade is expected to come under pressure this fiscal.However, the current account deficit (CAD) is expected to stay in the safe zone at 1.3 per cent of the GDP in the current financial year.The surplus in services trade, a robust flow of remittances ...

[ad_1] India should stand firm on its decision to continue buying oil from Russia and reject pressure from the United States to cut those imports, economic think tank Global Trade Research Initiative (GTRI) said on Thursday.According to GTRI founder Ajay Srivastava, discounted Russian crude has played a key role in helping India keep inflation in check and maintain macroeconomic stability despite global turbulence.“India must reject this pressure and stay firm on its Russia strategy. Buying discounted Russian oil has helped India manage inflation and maintain economic stability in a volatile global environment,” Srivastava said.His remarks come amid reports that former US President Donald Trump has threatened to impose a 100 percent tariff on countries that continue to purchase Russian oil.Srivastava cautioned that changing course under external pressure won’t help. “Altering that policy will not stop US threats and it will only invite more,” he said, noting that Trump has a pat...

[ad_1] A group of U.S. solar panel manufacturers asked the Commerce Department on Thursday to impose tariffs on imports from Indonesia, India and Laos, accusing companies there of dumping cheap goods in the market to undercut new American factories.The petition is the latest effort by the small U.S. solar manufacturing industry to seek trade relief to protect billions of dollars of recent investment and compete with goods produced mainly by Chinese companies overseas.The Alliance for American Solar Manufacturing and Trade, which filed the petition, includes Tempe, Arizona-based First Solar, Qcells, the solar division of Korea's Hanwha , and private companies Talon PV and Mission Solar.The group has succeeded previously in winning tariffs on imports from countries in Southeast Asia including Malaysia, Cambodia, Vietnam and Thailand.Those tariffs were finalized earlier this year.Live EventsThe petition accuses companies of receiving unfair government subsidies and of selling t...

[ad_1] New Delhi: Commerce and industry minister Piyush Goyal has urged Indian Missions abroad to help address trade barriers faced by Indian exporters in their respective countries.While addressing Heads of the Commercial Wings posted in 74 Indian Missions abroad across 61 countries on July 16, he called for trade intelligence gathering, including updates on market trends, sectoral developments, and regulatory frameworks to boost India’s exports.India’s goods exports were 0.05% down on-year in June at $35.14 billion due to global economic uncertainties.In his address, Goyal emphasized the need for “strategic interventions to address Market Access Barriers including Non-Tariff Barriers, Sanitary and Phytosanitary Measures, and Technical Barriers to Trade,” the commerce and industry ministry said in a statement.He also called for sharing of innovative strategy and best practices that yield good results in trade promotion and attracting investment into India besides regular dissem...

[ad_1] Negotiations between India and the US are underway to iron out pending issues for a trade deal, the Ministry of External Affairs (MEA) said on Thursday.The comments came a day after US President Donald Trump said that Washington is "very close" to the trade pact with India."These negotiations are on. Both sides are in touch with each other. They are trying to iron out issues," MEA spokesperson Randhir Jaiswal said at his weekly media briefing.India and the US have been holding negotiations for the trade pact primarily to keep the tariffs below 20 per cent."We're very close to a deal with India, where they open it up," Trump said on Wednesday.Live EventsThe US president said the proposed deal could provide the American companies greater access into the Indian market in line with the trade pact between the US and Indonesia.Washington has already sent letters to several countries sharing details of reciprocal tariff rates that would come int...

[ad_1] New Delhi: Around 50 developing and least developed countries (LDC) including Tunisia, Senegal, Bangladesh and Morocco have aligned with India on measures to curb harmful fisheries subsidies at the World Trade Organization (WTO).India wants the subsidies to be on a per capita basis instead of the aggregate level of subsidisation and based on the special and differential treatment (S&DT) principle to safeguard the livelihood of its small and artisanal fishers, officials said.India wants 25 years exemption from any subsidy cuts to protect its poor fishermen while the developed nations insist on a five-seven year transition period."The LDC group and other developing nations are in support of our stance on fisheries subsidies. If there are no disciplines and S&DT, then what will we do with a new agreement," said an official, who did not wish to be identifiedLive EventsWTO members are working on Fish 2 or "second wave" to curb subsidies that lead to...

[ad_1] New Delhi: India and the UK are likely to formally sign a Free Trade Agreement (FTA) next week with the final legal review of the pact currently underway.Both nations had reached the agreement in May. India expects 99% of its exports to the UK to have duty-free access. It also expects the FTA to open up significant export opportunities for labour-intensive sectors such as textiles, marine products, leather, footwear, sports goods and toys, and gems and jewellery, as well as engineering goods, auto parts and engines, and organic chemicals."Legal scrubbing is going on. It should be signed soon," said an official.New Delhi expects its exports to rise to $60 billion in the next five years and to around $80-$90 billion in a decade, with a threefold surge in jobs in goods and services. For the UK, the FTA will cut Indian tariffs on 90% of its product lines, with 85% of those becoming fully tariff-free within a decade. India will halve the duty on British whisky and gi...

[ad_1] New Delhi: The US was the top destination for electronics, marine goods and readymade garments exports from India in the first quarter of FY26, underscoring its position as India's most critical trade partner, an analysis done by the commerce department showed.The US had a 60.17% share in India's electronics exports in April-June, 37.63% in marine goods shipments and 34.11% in readymade garments. It was India's top trading partner in the quarter, according to the analysis.In June, India's overall goods exports to the US jumped 23.5% on-year while they rose 22% on-year in the April-June period.In electronics, the UAE, China, the Netherlands and Germany were the other top destinations. India's total electronics imports rose 47% on-year in April-June at $12.41 billion."This geographical spread highlights India's growing integration into the global electronics supply chain and underscores the country's emergence as a credible alternative manuf...

[ad_1] The US has told the World Trade Organization (WTO) that there was "no legal basis" for India to propose retaliatory tariffs against American duties on steel and aluminium as well as automobiles in the name of safeguard measures.Its communication comes after India said that the safeguard measures on steel and aluminium would affect imports of $7.6 billion into the US from India on which the duty collection would be $3.82 billion. Similarly, the measures would affect imports of automobile products worth $2.89 billion, on which the duty collection would be $723.75 million.On March 8, 2018, the US promulgated safeguard measures on certain steel and aluminium products by imposing 25% and 10% ad valorem tariffs respectively with effect from March 23 that year. On February 10, 2025, it revised the safeguard measures on imports of steel and aluminium articles, with effect from March 12.Similarly, the US adopted a measure in the form of a tariff increase of 25% ad valore...

[ad_1] India and Britain are expected to seal a long-awaited free trade deal next week, two Indian government sources said, granting Indian textiles and electric vehicles some duty-free access to the UK market and easing British exports of whisky, cars and food. In May, both countries announced the conclusion of trade negotiations after three years of stop-start negotiations, aiming to increase bilateral trade, remove trade barriers and allow duty-free entry of goods. The countries are now preparing to formally sign the agreement, and the announcement could coincide with Indian Prime Minister Narendra Modi's expected visit to London next week, one of the Indian officials said. The trade pact will take effect in about a year, after it is approved by the British parliament and India's federal cabinet, the official added.Officials spoke on the condition of anonymity as the details are not public.Live Events "The trade agreement offers a win-win for both countries,...

[ad_1] The WTO is a critical multilateral rules-based forum to promote and protect the trade interests of all countries, especially the African low-income countries, in the world, and it must be revitalised at all costs, said Pradeep S. Mehta, Secretary General of CUTS International. CUTS convened a high-level informal dialogue with African Ambassadors to the World Trade Organization (WTO) at the Palais des Nations, Geneva on 9th July. Mehta, an NGO Adviser to the DG, WTO, chaired the meeting.The closed-door session focused on reforms to the multilateral trading system, the operationalization of the African Continental Free Trade Area (AfCFTA), Africa’s strategic role within the G20, and preparations for the 14th WTO Ministerial Conference (MC14) to be hosted in Cameroon in March, 2026. The deliberations captured the continent’s resolve to navigate a complex geopolitical environment and assert its developmental priorities on the world stage.Multilateral Trading System in a Fract...

[ad_1] New Delhi: Prime Minister Narendra Modi is likely to travel to the United Kingdom on July 23-24 that could see both sides formally ink the landmark India-UK free trade deal and discuss expanding bilateral security ties.The deal could likely take about a year to become effective, sources said. In May India and the UK agreed to the landmark trade deal that is expected to benefit 99 per cent of Indian exports from tariffs and will make it easier for British firms to export whisky, cars and other products to India, besides boosting the overall trade basket.Modi had described the two pacts as a "historic milestone" to catalyse trade, investment, growth and job creation in both economies and further deepen the India-UK comprehensive strategic partnership.The trade deal, firmed up after three years of negotiations, is expected to ensure comprehensive market access for Indian goods across all sectors.From the UK, the PM will travel to Maldives on July 25-26 where he wil...

[ad_1] Hectic discussions are ongoing between India and the US to clinch a trade pact ahead of the July 9 deadline when the 90-day pause period for Washington's retaliatory tariffs comes to an end.Indian and American trade negotiators have managed to find closure on many issues, and Indian trade officials have extended their visit to the US to conclude the talks."Both sides were clear in this round and not yielding on certain issues but have achieved closure on many grounds," said a person aware of the development.New Delhi has stated that section 3(d) of the Indian Patents Act is non-negotiable and will not be reviewed. The section prohibits the grant of 'evergreening' patents, which are additional patents for a drug with no therapeutic benefit and are seen to increase the term of a patent monopoly.India wants the entire 26% tariff to be rolled back whereas the US wants to sell genetically modified crops to India, a sensitive area for New Delhi.Live Events...

[ad_1] India's trade deficit is likely to widen to USD 300 billion in the financial year 2025-26, even though oil prices are expected to remain moderate, according to a recent report by ICICI Bank.The projected deficit would be 7.0 per cent of the country's GDP, higher than the USD 287 billion recorded in FY25 and USD 245 billion in FY24.The report stated, "We see goods deficit widening to USD 300bn (7.0 per cent of GDP) in FY26. But steady inflows in case of services exports and remittances should ensure a CAD of USD 30bn (0.7 per cent of GDP)".The report highlighted that while oil prices may not surge sharply, the widening trade deficit will be driven mainly by weak performance in non-oil exports. On the other hand, imports are expected to stay strong due to the strength in domestic growth.A trade deficit occurs when a country's imports are more than its exports, while a current account deficit is a broader measure that includes the trade deficit plus oth...

[ad_1] As China’s Belt and Road Initiative (BRI) continues to expand its influence over global trade infrastructure, India is exploring alternative pathways that reduce reliance on Beijing-led corridors.One such emerging option is the Trans-Caspian Internationalindia-kazakhstan-middle-corridor-TITR-trade-route-alternative-to-china-briTransport Route (TITR), commonly known as the Middle Corridor, with Kazakhstan playing a central role in its development.India has long objected to key BRI components, especially the China-Pakistan Economic Corridor (CPEC), which cut through Pakistan-occupied Kashmir. The Indian government has consistently raised concerns over CPEC’s implications for territorial sovereignty.Also Read: Kazakhstan, logistics hub of the Eurasia, rises on the world stageIn 2024, Ministry of External Affairs spokesperson Randhir Jaiswal reiterated India’s position in an interview with ANI, “On PoK, we are very consistent in our position. We want to tell you, the whole of...

[ad_1] India has toughened its stance on agricultural issues as trade negotiations with the United States in Washington enter a decisive phase, officials told PTI on Monday.The Indian delegation, led by Rajesh Agrawal, Special Secretary in the Department of Commerce, is currently in Washington for discussions on an interim trade agreement. The stay of the Indian team, which was initially scheduled for just two days, has already been extended by three days until June 30 and is likely to be extended further, an official said.A deal before the July 9 deadline?According to the official, both sides are working against the clock to conclude a deal before the July 9 deadline, which marks the end of a 90-day suspension of a 26 per cent reciprocal tariff imposed by the US on Indian goods.“If the proposed trade talks fail, the 26 per cent tariffs will come into force again,” the official said.Another official told PTI that the commerce ministry has already informed domestic exporters and ...

[ad_1] The Indian government has extended qualitative restrictions on import of low-ash metallurgical coke for another six months, according to a fresh notification issued by the government.The updated order, effective July 1, 2025, will remain in place until December 31, 2025.The QRs were valid upto June 30, 2025. The countries in the list include Australia, China, Indonesia, Colombia, Japan, Poland, Qatar, Russia, Singapore, Switzerland and the UK. Metallurgical coke, especially the low-ash variant, is an important raw material used in steel manufacturing and other industrial processes.India has allowed a total of 14,27,166 ton of imports from these countries during July to December period.Metallurgical coke, particularly the low-ash variant, is a key raw material used in steel manufacturing and other industrial processes.Live EventsIn another notification, the government extended Minimum import price (MIP) of Rs 20,108 per ton on import of soda ash up to December 31 this year...

[ad_1] New Delhi: India has extended the country-wise quantitative restrictions (QR) on import of low ash metallurgical coke for six more months, till December 31, 2025, the Directorate General of Foreign Trade said in a notification Monday.The QRs were valid upto June 30, 2025. The countries in the list include Australia, China, Indonesia, Colombia, Japan, Poland, Qatar, Russia, Singapore, Switzerland and the UK. Metallurgical coke, especially the low-ash variant, is an important raw material used in steel manufacturing and other industrial processes.India has allowed a total of 14,27,166 ton of imports from these countries during July to December period.In a separate notification, the DGFT extended the Minimum import price (MIP) of Rs 20,108 per ton on import of soda ash upto December 31 this year.Soda ash is used in glass manufacturing, detergents, and chemicals, among others.Live Events“MIP at Rs 20,108 per ton on import of disodium carbonated (soda ash) has been extended up...

[ad_1] India should retain its policy space in the agri sector under the proposed trade agreement with the US, as any reduction in the import duties on American farm goods could undermine the country's food security, think tank GTRI said on Monday. Citing historical data, it said that between 2014 and 2016, global grain prices collapsed -- wheat dropped below USD 160 per tonne wiping out farmers across Africa. If India removes tariffs, cheap, subsidised US grains could similarly flood Indian markets during global price crashes, the think tank cautioned. The Global Trade Research Initiative (GTRI) said that any commitment to permanently lower farm tariffs under the India-US free trade agreement (FTA) would be irreversible and strategically unwise."India must retain policy space to manage food stocks, support rural incomes, and respond to global shocks. In today's geopolitically unstable world, food security must remain sovereign," GTRI Founder Ajay Srivastava sa...

[ad_1] The White House on Monday said that an announcement regarding a trade deal with India could come "very soon." U.S. President Donald Trump is also preparing to hold key meetings with his trade team this week to determine tariff rates for individual countries unwilling to negotiate with the United States.“We will hear about a trade deal with India very soon,” said White House Press Secretary Karoline Leavitt during a media briefing. While she did not specify a timeline or details of the negotiations, her remarks indicate that India remains a priority in the Trump administration’s evolving trade agenda.India and the United States are currently locked in high-stakes negotiations for a trade agreement, with pressure mounting ahead of a July 9 deadline. The talks, underway in Washington, aim to prevent the reimposition of a 26% reciprocal tariff on Indian goods, a levy that was originally announced by the Trump administration and temporarily suspended in April for 90 ...

[ad_1] The India-US trade pact talks are at a crucial stage with New Delhi sticking to the red line on the issue of market access in agriculture, genetically modified (GM) crops, and dairy, people privy to the development said.However, efforts are on to stitch the trade deal before July 9, when 26% reciprocal tariffs by the Donald Trump administration will come into effect, they added. "We are hopeful of a deal...But there would be no compromise on the interests of Indian farmers," one the persons told ET."India's stance in these areas is very clear," said another person. "There are red lines that will not be crossed".India's trade negotiators extended their stay in Washington, beyond the scheduled two-day visit ending June 27, as talks with the US government stretched on.Live Events"The talks are at a critical juncture," said a third person, adding that the deal could also be in multiple phases with certain details following later...

[ad_1] The White House has called India a “very strategic ally” in the Indo-Pacific at a time when ties with China remain tense. Speaking at a press briefing on Monday (US local time), Press Secretary Karoline Leavitt said, “India remains a very strategic ally in the Asia Pacific and the President has a very good relationship with Prime Minister Modi, and he will continue to have that.”She was replying to a question from ANI about how the US views China’s push in the region. Her words come as External Affairs Minister S. Jaishankar visits New York for the QUAD Foreign Ministers’ Meeting. On Monday, Jaishankar also opened an exhibition at the UN called The Human Cost of Terrorism. It highlights the burden of state-sponsored terror.White House says trade deal almost readyTrade is the next pillar on which this partnership stands. Leavitt made clear that a long-awaited deal is nearly done. In her words, “Yes, the President said that last week (that the US and India are very close to...

[ad_1] India is on track to finalise an interim trade agreement with the US as soon as this week, the Financial Times reported on Tuesday, citing two people briefed on the talks.The interim deal, which would be among the first with a major US trading partner, would be an initial step towards a comprehensive bilateral accord between Washington and New Delhi. The trade pact talks between the two countries are at a crucial stage with New Delhi sticking to the red line on the issue of market access in agriculture, genetically modified (GM) crops, and dairy, people privy to the development told ET.ET earlier reported today that efforts are on to stitch the trade deal before July 9, when 26% reciprocal tariffs will come into effect, they added. "We are hopeful of a deal...But there would be no compromise on the interests of Indian farmers," one of the persons said."India's stance in these areas is very clear," said another person. "There are red lines that...

[ad_1] External Affairs Minister S Jaishankar has said India is “in the middle, hopefully more than the middle” of a “very intricate trade negotiation” with the United States, adding that he remains optimistic about a successful outcome despite the complexity involved.In an interview with Newsweek during his ongoing visit to the US, Jaishankar described the trajectory of India-US ties as steadily positive over the last 25 years. Referring to the continuity of bilateral progress under five different US Presidents, he said, “Just think back over the last five presidents of America—Clinton, George W Bush, Obama, Trump, Biden—five very different presidents and yet at the end of every presidency, if you were to do a dipstick on India-US relations you'll find it's better off than it was at the beginning of that presidency.”He added that “structural factors” such as economics, technology, education, energy, and security had acted as “drivers of the relationship,” allowing it to...

[ad_1] The commerce department is seeking to amend the law governing special economic zones (SEZs), offering several concessions as it seeks to revive the enclaves to boost exports and activity within the economy, according to a TOI report. At a meeting convened by commerce and industry minister Piyush Goyal on Monday, the plan discussed with exporters included allowing sales in the domestic tariff area (DTA) - which is the area outside the SEZ - on a duty forgone basis. Under the current regime, shipments from SEZs to an Indian seller in the DTA attract import duty equivalent to what any consignment from another country faces. If the amendments go through, in the case of, say, a shirt made in an SEZ using imported fabric, it will only attract the customs applicable to the fabric.Sources told TOI that the benefit is available in American foreign trade zones as well as comprehensive bonded zones in China, as well as some of the Indian schemes, such as those for export-oriented un...

[ad_1] Free trade agreements (FTAs) with the US, UK and European Union (EU) will open new opportunities for the textiles sector in India, Minister of State for Textiles Pabitra Margherita said on Tuesday.He also said the country's textiles exports have crossed USD 34 billion, and it is aiming to reach USD 100 billion by 2030."On the trade front, the India-UK Free Trade Agreement and our ongoing negotiations with the EU and US will open new avenues for growth."These are high-value, quality-conscious markets, and we are committed to equipping Indian exporters with the right strategy, standards, and compliance to seize these opportunities," he said.Inaugurating the 73rd Edition of India International Garment Fair (IIGF) here at Yashobhoomi, Margherita said the textile and apparel industry contributes 2.3 per cent to India's GDP, 13 per cent to industrial production, and 12 per cent to exports.Live Events"In 2023-24 alone, we exported textile products wor...

[ad_1] The U.S. and India are nearing a deal to lower tariffs on American imports to the South Asian country and to help India avoid levies imposed by the Trump administration rising sharply next week, Treasury Secretary Scott Bessent said on Tuesday. "We are very close with India," Bessent told Fox News in response to a question about progress on trade negotiations. Indian officials extended a visit to Washington last week through Monday to try to reach agreement on a trade deal with President Donald Trump's administration and address lingering concerns on both sides, Indian government sources told Reuters. India is one of more than a dozen countries actively negotiating with the Trump administration to try to avoid a steep spike in tariff rates on July 9, when a 90-day tariff pause ends. India could see its new "reciprocal" tariff rate rise to 27% from the current 10%.The U.S.-India talks have hit roadblocks over disagreements on import duties for auto ...