New Delhi, Feb 23 (IANS) Union Commerce and Industry Minister Piyush Goyal on Monday said that quality must become the core focus of India’s manufacturing and export ecosystem if the country wants to achieve its long-term economic goals.Addressing the first National Quality Conclave virtually, organised by the Department for Promotion of Industry and Internal Trade (DPIIT) in partnership with the Quality Council of India (QCI), Goyal stressed that Prime Minister Narendra Modi’s vision of “…
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New Delhi, Feb 21 (IANS) Welcoming the reported US Supreme Court order striking down recently imposed tariffs, Indian industry representatives on Saturday said the move would significantly boost exports, strengthen trade ties and revive employment across sectors.Speaking to IANS, Nainesh Pachchigar, Gujarat State President of the India Bullion and Jewellers Association (IBJA), said the industry has welcomed the US Supreme Court’s decision that declared the tariffs imposed by former US Presiden…
New Delhi, Feb 20 (IANS) Commerce and Industry Minister Piyush Goyal said on Friday that the interim trade deal between India and the United States is likely to become operational in April this year.Meanwhile, a three-day meeting between Indian and US officials to finalise the legal text for the interim trade agreement will begin in the US on February 23.The minister also said that India’s free trade agreements (FTAs) with the UK and Oman are likely to be implemented in April, while in the case …
New Delhi, Feb 19 (IANS) India’s recent interim trade agreement with the United States, which resulted in a reduction in US tariffs, is being increasingly seen worldwide as reflecting New Delhi’s strategic autonomy in taking decisions that are in national interest.“India’s response, which is seemingly rooted in a deliberate policy of strategic autonomy, reveals a pragmatic approach that prioritises national interest without surrender, as many pundits had suggested,” according to an art…
New Delhi, Feb 16 (IANS) While India has diversified its energy basket and started sourcing more oil and gas from the US, it is also diversifying its import basket for precious metals from the UAE so that it can purchase more gold and silver from the US market instead, a senior official said.This will help to bring down prices and also the trade surplus with the US.The United States is a major global hub for trading these precious metals. It exports significant amounts of gold (including waste/s…
New Delhi, Feb 16 (IANS) The 6.15 per cent growth in overall exports during April-January 2025-26 is a positive and reassuring indicator of the inherent strength and competitiveness of Indian industry, the Federation of Indian Export Organisations (FIEO) said on Saturday.India’s overall exports during the period rose to $720.76 billion, as compared to $679.02 billion in the corresponding period of the previous fiscal.Merchandise exports stood at $366.63 billion, registering a growth of 2.20 pe…
New Delhi, Feb 16 (IANS) India’s annual rate of inflation based on the Wholesale Price Index (WPI) was estimated at 1.81 per cent for January this year compared to the same month of the previous year, according to figures released by the Commerce and Industry Ministry on Monday.Positive rate of inflation in January is primarily due to an increase in prices of the manufacture of basic metals, other manufacturing, non-food articles, food articles and textiles, the official statement said.The mon…
New Delhi, Feb 15 (IANS) The India-UK free trade agreement is likely to come into effect from April this year, paving the way for an increase in Indian exports to the European nation, according to a senior official on Sunday. The agreement was signed between the two countries in July last year and has to be now approved by the UK Parliament for it to come into effect.The process has already started with the debate on the Free Trade Agreement (FTA) having begun in the both Houses of the British P…
Mumbai, Feb 11 (IANS) The Indian apparel (exports) sector has been upgraded to ‘Stable’ outlook from ‘Negative’ after the US reduced reciprocal tariffs on Indian goods to 18 per cent from 25 per cent, a report said on Wednesday.The report from ratings agency ICRA restored its outlook on the apparel sector, saying apparel export revenues are likely to rebound 8–11 per cent in FY27 even as shipments are still projected to decline 3–5 per cent in FY26.The report attributed revenue growth to rec…
New Delhi, Feb 9 (IANS) The India-US Bilateral Trade Agreement (BTA) marks a major milestone in India’s global trade engagement, securing sustained preferential access for exports in the US market valued at over $30 trillion, according to an official statement issued on Monday.The agreement delivers comprehensive tariff rationalisation, zero-duty access across large product categories, enhanced digital and technology cooperation, and a carefully calibrated framework to safeguard India’s farm…