Foreign Trade
Commerce Ministry seeks views on allowing FDI in inventory-based e-commerce for exports
India is considering allowing foreign investment in e-commerce models that hold inventory. This move is specifically for goods manufactured in India and intended for export. The aim is to boost India's global sales without affecting domestic small retailers. This policy change could significantly increase India's e-commerce exports, which currently lag behind China.
India ready to put its seal on any fair and equitable trade deal: Piyush Goyal
India is working to attract more foreign investment. Commerce Minister Piyush Goyal stated that foreign direct and institutional investment are being enhanced. Export growth is expected to accelerate in FY26. The government also supports channeling capital from insurance and pension funds into startups. India aims to strengthen its global trade position and secure favorable trade agreements.
Russia overtakes Ukraine as India's top sunflower oil supplier
Russia has become India's largest sunflower oil supplier, with imports surging twelvefold in four years, displacing Ukraine. This shift is attributed to Russia's reliable seaports and competitive pricing, especially as Ukraine diverts produce to Europe. Despite a recent price increase impacting overall imports, Russia's significant share is expected to persist.
Import curbs on stainless steel relaxed till December 31
The government has temporarily lifted import restrictions on specific stainless steel items until the year's end, driven by a shortage of local production. Manufacturers are apprehensive about losing their market foothold and the potential hindrance to their investment in future capacity. They argue that these exemptions might lead to an influx of below-par steel imports that could distort market stability.
India at advanced stages of trade talks with both EU and US: Piyush Goyal
India is nearing trade agreements with the European Union and the United States. Meanwhile, Indian products face substantial import duties in the US. These tariffs, totaling fifty percent, have been described as unfair by New Delhi. Discussions are ongoing to resolve these trade matters.
India should continue trade negotiations with US, fasten FTA talks: EAC-PM chairman Dev
EAC-PM Chairman S Mahendra Dev urged India to diversify exports, expedite FTAs, and continue trade talks with the US. He highlighted opportunities for India to boost its share in global merchandise trade, emphasizing the need for stronger export growth and more medium-sized manufacturing units to achieve sustained economic expansion.
US’ Golden Gate move signals a likely shift in India strategy
The US has granted India a six-month sanctions waiver for its operations at Iran's Chabahar Port, a move seen as a strategic concession amidst ongoing trade deal negotiations. This extension supports India's regional connectivity plans, particularly its gateway to Afghanistan and Central Asia, signaling Washington's willingness to accommodate New Delhi's geopolitical interests.
China green flag up: 4 Indian cos can import rare earth magnets
China has restarted supplying heavy rare earth magnets to India after a six-month halt. This brings relief to Indian companies in electric vehicle, renewable energy, and consumer electronics sectors. However, China has imposed conditions. These magnets cannot be re-exported to the US or used for military purposes. This development follows a meeting between US and Chinese leaders.
Engineering goods exports grow in Sep, despite 9.4 pc drop in shipments to US: EEPC
Indian engineering exports saw a 2.93 percent rise in September, reaching USD 10.11 billion. This growth occurred even with a drop in shipments to the United States. Exports to China and other regions showed positive movement. The sector's cumulative growth for the first half of the fiscal year stands at 5.35 percent. This indicates resilience in the engineering goods market.
Yellow peas import to attract 30 pc duty from Nov 1
Beginning November 1, a 30% import duty will be levied on yellow peas. Any shipments with a bill of lading dated on or before October 31 will avoid this charge. Previously, the government allowed duty-free imports until March 2026, but this new regulation significantly impacts future yellow pea imports.
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US has granted India a six-month exemption from sanctions on Chabahar port, confirms MEA
The United States has granted India a six-month exemption from sanctions for operations at Iran's Chabahar port. This waiver is crucial for India's regional connectivity plans, including trade with Afghanistan, Central Asia, and Russia, and bypasses Pakistan. India recently signed a 10-year agreement to operate the port.
Some Indian companies have received licenses to import rare earths from China: MEA
The Ministry of External Affairs on Thursday said that some Indian companies have received licences to import rare earths from China. The minerals, vital for industries such as electronics, renewable energy and defence, have faced global supply concerns after China imposed export restrictions.
Why Trump can't rush the Indian elephant into a trade deal
The US and China have reached a tariff reduction breakthrough, with Beijing agreeing to curb fentanyl trade and resume soybean purchases. This signals a shift from Trump's tariff strategy, as India also resists pressure for a trade deal, prioritizing fair terms over rushed agreements.
Half of EU FTA deal wrapped up: Piyush Goyal
India and the European Union are nearing a free trade agreement. Negotiations have concluded 10 chapters, with more broadly decided. Sensitive issues like steel and automobiles require further discussion. Both sides aim for a balanced pact, recognizing mutual strengths. The EU trade commissioner's visit in November is expected to bring further breakthroughs.
Govt to allocate gold quota under trade pact with UAE through bidding process
India will now allocate tariff rate quotas for gold imports from the UAE through a competitive bidding process. This move aims to enhance transparency and efficiency. Eligible importers must be registered with the Bureau of Indian Standards for hallmarking and with GST.
Goyal to visit New Zealand next week for trade pact talks
Next week, Commerce and Industry Minister Piyush Goyal will embark on a visit to New Zealand to engage in productive discussions surrounding a proposed free trade agreement. The goal of the negotiations is to bring the FTA to a robust conclusion, enhancing the rapidly growing bilateral trade between India and New Zealand.