New Delhi, June 2 (IANS) India on Tuesday welcomed Germany’s decision to operationalise visa-free transit for Indian nationals passing through German airports, saying this new arrangement would further enhance people-to-people ties.“We welcome the operationalisation by Germany of the annoucement waiving requirement of transit visa for Indian nationals transiting through Germany, exclusively by air, with effect from June 3,” the Ministry of External Affairs (MEA) wrote on X.”The announcement wa…
Latest Trade agreements News & Updates
Washington/Ottawa, May 28 (IANS) Union Commerce and Industry Minister Piyush Goyal has pitched India as a trusted long-term economic partner during a series of high-level meetings and community engagements in Canada.Goyal held talks with business leaders, pension fund executives, technology institutions and the Indian diaspora during his visit to Toronto, focusing on investment, innovation and trade cooperation across sectors ranging from clean energy and infrastructure to artificial intelligenc…
Chennai, May 27 (IANS) The textile and apparel industry of Tamil Nadu is preparing for a major export push into European and British markets as upcoming free trade agreements are expected to improve competitiveness and reduce dependence on the United States market.Industry stakeholders believe the proposed trade agreements with the European Union and the UK could significantly expand India’s share in global textile exports by creating tariff parity with competing manufacturing hubs.Exporters s…
Gandhinagar, May 17 (IANS) Union Commerce and Industry Minister Piyush Goyal on Sunday said that India’s recent free trade agreements with developed economies had given the country preferred access to markets accounting for nearly 70 per cent of global GDP. Addressing the inauguration of the Innovation and Incubation Centre at the National Institute of Design (NID) in Ahmedabad, Goyal said the agreements reflected the long-term economic strategy of Prime Minister Narendra Modi and would suppor…
Washington, April 9 (IANS) India’s economy is maintaining strong growth momentum, driven by robust domestic demand, resilient services exports and sustained reforms, the World Bank said in its latest report.Growth is estimated at 7.6 per cent in fiscal year 2025-26, higher than earlier projections, reflecting the strength of consumption and investment activity, according to the South Asia Economic Update.Private consumption has been a key driver. The report said retail demand has remained stea…
Washington, April 8 (IANS) The World Bank on Wednesday said India is expected to clock a 7.6 per cent GDP growth in the financial year 2025-26, while it has raised the country’s growth forecast for 2026-27 to 6.6 per cent from 6.3 per cent earlier.The World Bank Group, in its twice-a-year regional outlook report, stated that “the growth outlook is driven primarily by India’s performance, underpinned by robust domestic demand as well as tariff cuts and recent trade agreements, including the f…
Washington, April 3 (IANS) The White House said that new trade agreements, including with India, have helped rebalance global trade and reduce US deficits under Donald Trump’s tariff strategy.Marking one year since what it calls “Liberation Day”, the White House said the US economy is now more resilient, competitive and secure.“One year ago today, President Trump threw away the illusions of ‘free trade’ to finally put Americans and America First,” White House spokesman Kush Desai s…
New Delhi, March 14 (IANS) India’s services exports have maintained strong momentum in FY2025-26, supported by sustained global demand for Indian services and over the April-January 2025-26 period, services exports are estimated at $348.4 billion, an official factsheet said on Saturday.India’s services exports share in GDP averaged 9.7 per cent during FY23-FY25, marking a notable rise from 7.4 per cent in the pre-pandemic period, and highlighting the growing role of the services sector in su…
Coimbatore, March 9 (IANS) The ongoing conflict in West Asia and the disruption of maritime traffic through the Strait of Hormuz have begun to impact India’s textile sector, with polyester fibre prices rising sharply in the past week. According to industry representatives, the price of polyester fibre has increased by Rs 12 per kilogram, creating fresh concerns for textile manufacturers and exporters. The Strait of Hormuz is one of the world’s most crucial maritime corridors for the transpor…
New Delhi, Feb 20 (IANS) The Indian economy continues to register high growth despite a challenging external environment clouded by geo-political uncertainties, the latest RBI Bulletin said on Friday, adding that the recent trade agreements with the European Union (EU) and an interim trade deal framework will help the growth momentum stay robust for a longer period. According to Central Bank Governor Sanjay Malhotra, benign inflation provides the leeway to remain growth-supportive while preservi…