India’s exports to the US increased by 5.57% to $60 billion in April-December 2025
January 26, 2025, 2:20 PM IST
India’s exports increased by 5.57% to $59.93 billion in the April-December period due to strong demand in the US market, while imports increased by 1.91% during the same period. Experts predict continued growth and potential opportunities for bilateral trade due to the US-China trade tensions. Concerns remain about the possibility of the US imposing tariffs on Indian goods.
McKinsey Asia Chairman Gautam Kumra says India needs to strengthen its trade strategy with fast-growing Asia
January 25, 2025, 12:30 AM IST
India has significant opportunities to enhance intra-Asia trade through new corridors such as India-US, India-Japan and Southeast Asia. Gautam Kumra, Chairman of McKinsey Asia, emphasizes the importance of manufacturing’s contribution to GDP and the potential of Global Capability Centers (GCCs). He emphasizes the need for localization and partnership, especially between Japan and India.
Concerns grow among small-scale tea producers in northeast India over rising tea imports
January 24, 2025, 8:51 PM IST
NECSTGA has expressed concern that the Tea Board’s directive to stop tea production in north India is linked to increased imports of tea from Nepal, Kenya and other countries. They highlight the negative impact on more than 1.5 million small-scale producers, highlight regulatory deficiencies and the negative impact on the market value of India’s tea industry.
Rupee weakness is not a one-size-fits-all solution to boost exports: Apex exporters association
January 24, 2025, 8:24 PM IST
According to FIEO, a weaker rupee alone will not increase exports. Depreciation affects competitiveness as competing currencies depreciate further. It raises import costs, increases production costs, increases domestic inflation and reduces consumer purchasing power. Currency fluctuations complicate exporters’ pricing plans and increase external debt servicing costs.
Simplifying harmonized tariffs is a government priority: Ashwini Vaishnau
January 23, 2025, 11:58 PM IST
Union Minister Ashwini Vaishnau said simplification of the customs structure is a priority for the Modi government to expand exports as a key driver of economic growth. The goal has shifted to ‘Make in India, Make for the World’, with an emphasis on export-led growth. To support this strategy, customs laws and customs procedures will also be streamlined.
Significant progress in India-EU free trade agreement negotiations
January 23, 2025, 10:33 PM IST
According to Commerce and Industry Minister Piyush Goyal, India and the EU are making significant progress in free trade agreement (FTA) negotiations. Ahead of the 10th round of talks, both countries agreed to develop a commercially meaningful trade agenda and work towards mutually beneficial agreements.
How India can avoid Donald Trump’s tariff tantrum
January 23, 2025, 8:29 PM IST
The U.S.-India trade relationship faces uncertainty as President Trump pushes for reciprocal tariffs. India, which has a trade surplus, is considering lowering tariffs on certain U.S. products. Officials are considering limited trade deals and broader concessions, aiming to strengthen economic ties despite historic differences.
WTO chief and world leaders call for calm amid trade and climate tensions at Davos
January 23, 2025, 5:13 PM IST
To avoid negative effects on economic growth, countries should remain calm and not react too quickly to protectionist moves. The WTO urges countries to consider their policies first, without overreacting. Tackling climate change requires consistent action by both countries and businesses. Renewable energy and green technologies are economically promising and progress should continue despite some setbacks.
Get-rich-quick Indian exporters suffer as rupee collapse unravels exotic trade
January 23, 2025, 3:10 PM IST
Some Indian exporters are facing margin calls and losses due to the sharp depreciation of the rupee. They were drawn to the promise of quick profits with low volatility and utilized Target Redemption Forward (TARF) structures. However, the recent depreciation of the rupee and increased volatility hampered the profit ceiling, resulting in significant losses.
ET@Davos: India stands ready to respond to President Trump’s measures, says Ashwini Vaishnau
January 23, 2025, 7:36 AM IST
Ashwini Vaishnau, who will lead the Indian delegation at Davos, emphasized India’s strong ties with global businesses despite potential issues such as changing birthright citizenship. India presents a united front for manufacturing interests and investment focused on AI development. Prime Minister Modi’s confidence in economic policy and India’s foreign policy is a key highlight.
Must-see
India considers President Trump’s trade memo. No action required for now: Official
January 23, 2025, 12:16 AM IST
India is investigating the impact of the US’s “America First” trade policy on bilateral trade. The White House’s directive to identify potential countries for an agreement has been received positively. Discussions on US trade policy continue, and the Indian government is awaiting the appointment of key trade officials for further dialogue.
India investigates US trade memo. Directive on bilateral trade agreements is positive: sources
January 22, 2025, 9:03 PM IST
India is considering the impact of President Trump’s America First Trade Policy on its trade relations with the United States, its largest trading partner. The memo suggests considering bilateral or sectoral agreements. Confirmation from key U.S. trade officials is awaited. President Trump has also threatened to impose 100% tariffs on BRICS countries, taking aim at the role of the US dollar in global trade.
Dry fruit body NDFC seeks rationalization of import duties and reduction in GST in the budget
January 22, 2025, 4:49 PM IST
Budget 2025: Indian Nut and Dry Fruits Council (NDFC) has urged the government to set import duty on walnuts per kg, reduce GST on dry fruits to 5% and increase production to boost growth in the sector. It calls for the introduction of a linked incentive system. The Indian dry fruit market is expected to reach USD 12 billion by 2029.
India’s rice exports will remain stable in 2024, ignoring regulations
January 22, 2025, 2:15 PM IST
India’s rice exports remained strong in 2024, despite previous export curbs, as high shipments of basmati rice compensated for lower sales of non-basmati rice. The country’s total exports amounted to 17.8 million tons, slightly down from the previous year. Basmati rice exports increased by 16.3% due to demand from Saudi Arabia, Iraq and UAE.
PM Modi considers additional purchases of whiskey, steel and oil to counter Trump’s tariff threat
January 22, 2025, 1:01 PM IST
The Indian government is evaluating options such as trade deals, lower tariffs, and increased imports from the United States to counter potential trade actions by the Trump administration. Strategies include lowering import duties on certain U.S. products to ease tensions and bringing back illegal Indian immigrants from the United States.
President Trump’s withdrawal from the Global Tax Agreement is to avoid hurting India from a tax collection perspective – expert
January 21, 2025, 8:40 PM IST
The Trump administration’s decision to withdraw from the OECD’s Global Tax Agreement will impact the international agreement on a global minimum tax, but India remains unaffected. Experts say a U.S. withdrawal would cause confusion for countries that have already adopted the global anti-base encroachment model rules. India’s cautious approach and recent tax reforms have kept the direct impact to a minimum.
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