BILATERAL TRADE TALKS
India and US trade deal still has a few stubborn cards to play: Fitch unit
Negotiations between India and the US have encountered significant sticking points affecting market access and agriculture. US Trade Representative Jamieson Greer noted the identification of all key issues during talks. Finance Minister Nirmala Sitharaman mentioned that negotiations have reached a plateau with limited opportunities for further concessions. India is advocating for more preferential access for its exports. Meanwhile, Washington seeks increased access to the Indian market, especially in agricultural sectors.
'We carry Africa in our hearts and will build partnership for generations to come': Jaishankar
India's External Affairs Minister S Jaishankar is visiting Ghana to strengthen bilateral relations and discuss strategic cooperation. He held talks with his Ghanaian counterpart regarding trade, investment, and multilateral cooperation. India plans to support Africa through technology, energy, and capacity building initiatives while enhancing their strategic autonomy. Jaishankar highlighted the importance of supply chain resilience and empowering the continent's youth.
India, Ghana discuss multilateral cooperation during EAM Jaishankar's visit
External Affairs Minister S Jaishankar recently met with Ghanaian counterpart Sam Okudzeto Ablakwa to enhance bilateral relations. They discussed comprehensive partnerships in various sectors including trade, technology, and agriculture. Jaishankar also held discussions with President John Dramani Mahama, emphasizing India's commitment to Ghana's development. Memoranda of Understanding were exchanged between academic institutions to promote collaboration and capacity building.
Explainer: Why have India-US trade talks stalled again and what's next?
Amid rising tariffs and geopolitical tensions, trade negotiations between India and the United States have reached an impasse. The US has voiced concerns over India's ongoing acquisition of Russian oil, which could trigger higher tariffs. India aims to safeguard its vital agricultural sectors during talks while advocating for enhanced export conditions. Future discussions, particularly with Secretary of State Marco Rubio's upcoming visit, may provide an opportunity for resolution.
India-US trade deal talks may have reached a ‘plateau’, further concessions difficult: Nirmala Sitharaman
During a recent briefing, India's Finance Minister Nirmala Sitharaman announced that talks regarding a trade pact with the US are currently stalled. While she sees some room for advancement, she pointed out the complexities involved in making further concessions. The dialogue also encompasses the trade deficit issues with both the US and China.
Sitharaman sees a ‘plateau’, but India-US trade deal may not be at a dead end yet: GTRI
As India and the US engage in talks for a bilateral trade deal, uncertainties loom over tariff treatments. Finance Minister Nirmala Sitharaman mentioned that the scope for concessions is limited, indicating a plateau. Ajay Srivastava from GTRI cautioned against making unilateral concessions, stressing that additional tariffs might complicate trade relations. An effectively designed interim agreement is crucial for ensuring substantial benefits for India.
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Greater opportunities to expand bilateral trade, investment between India, Switzerland: President Murmu
President Droupadi Murmu welcomed Swiss President Guy Parmelin, emphasizing the historic EFTA Trade and Economic Partnership Agreement. They discussed expanding bilateral cooperation in various sectors, including clean technology and artificial intelligence. Key agreements were signed to promote migration, mobility, and cooperation in nuclear energy and defense.
India, Switzerland sign migration pact, expand trade, investment and defence ties
India and Switzerland have signed a migration and mobility partnership pact and expanded market access for Indian exports. Prime Minister Narendra Modi and Swiss President Guy Parmelin discussed deepening cooperation in nuclear energy and defence. Both nations aim to boost bilateral trade and investment ties following the recent Trade and Economic Partnership Agreement. New opportunities will also emerge for Indian students and professionals in Switzerland through the agreements.
India, Canada begin fifth round of CEPA talks on October 5
India and Canada are set to hold the fifth round of negotiations for the Comprehensive Economic Partnership Agreement in October. These discussions aim to conclude the pact by the end of 2026, following previous rounds and negotiations. Canada's Trade Minister Maninder Sidhu is scheduled to visit New Delhi with a large business delegation later this month.
PM Modi, Swiss President Parmelin hold talks to deepen trade, investment and tech ties
Prime Minister Narendra Modi welcomed Swiss President Guy Parmelin for talks to enhance bilateral relations. Discussions focused on trade, investment, mobility, and critical technologies between the two countries. Parmelin's visit included a ceremonial reception followed by tributes at Rajghat. External Affairs Minister S Jaishankar also met with Parmelin to discuss strengthening the India-Switzerland partnership. An official banquet will be hosted by President Droupadi Murmu in honor of Parmelin.
India-US trade talks hit a plateau, with little room left to give or take, says Finance Minister Nirmala Sitharaman
India and the US are currently negotiating a trade agreement aimed at expanding market access and addressing trade balance concerns. Finance Minister Nirmala Sitharaman mentioned that both sides appear to have reached a plateau in negotiations. She indicated that further concessions may be challenging following rigorous discussions. Despite this, she believes there could be opportunities for additional negotiations. The US is particularly focused on reducing its trade deficit with India.
'US deal could spur further liberalisation'
India's economic growth remains strong, with foreign direct investment continuing to show promising figures. Arvind Panagariya emphasizes the need for deeper trade liberalization, increased privatization, and judicial reforms. He highlights the importance of attracting long-term productive investments, especially from private equity. Trade agreements with the UK and European Union are expected to further bolster India's economy.
India goes FTA shopping at G20 as Piyush Goyal works the room with a cart full of trade deals
India's Commerce Minister Piyush Goyal is actively engaged in negotiations for several trade agreements at the G20 meeting. Talks with the US include an interim pact and finalizing issues for a broader agreement. Discussions with Canada aim to conclude a Comprehensive Economic Partnership Agreement by the end of 2026. Existing trade agreements with the UK and Australia are also under review for their implementation and effectiveness.
Canadian minister to lead 300-member Trade Mission to India this month
Canada's Trade Minister Maninder Sidhu is leading a business delegation of 300 to India this month. This mission aims to explore various sectors for trade opportunities and strengthen bilateral relations. Negotiations for the Comprehensive Economic Partnership Agreement between India and Canada will resume soon. Both countries aim to increase bilateral trade to CAD 70 billion by 2030. Recent discussions show commitment to expediting these negotiations and reaching a conclusion soon.
The biggest jump in global crop prices since 2022 threatens to boost inflation
Global agricultural prices have jumped notably due to growing tensions in the Black Sea affecting supply routes, coupled with adverse weather impacting yields. The Bloomberg Agriculture Spot Index surged by 13%, its highest quarterly growth since March 2022. Meanwhile, China's substantial purchases of American soybeans are altering grain trade dynamics.
India, Bulgaria review bilateral ties; push for early India-EU FTA
India and Bulgaria have called for early implementation of the India-EU free trade agreement, saying it could significantly deepen bilateral economic ties. The two sides also reviewed cooperation in trade, investment, AI, space, defence, science and technology, while discussing wider regional and global issues.
India-US trade deal 'not imminent' as 'sticking points' stay, USTR Greer says
US Trade Representative Jamieson Greer said the Trump administration is working with India to finalise a bilateral trade deal, but an agreement is not imminent. Greer said he had a “very constructive conversation” with Commerce Minister Piyush Goyal at the G20 trade ministers meeting and that officials remain engaged.
Putin praises Modi’s ‘good ideas’ for peaceful resolution of Ukraine conflict
Vladimir Putin acknowledged Narendra Modi's commitment to ending the Ukraine conflict and praised his ideas for resolution. Modi has maintained a humanitarian stance while advocating for dialogue to achieve peace. The Russian President expressed gratitude for Modi's ongoing support to resolve the situation. Both leaders have discussed enhanced cooperation in various sectors during their recent meetings. Modi indicated India's willingness to aid in meaningful peace efforts between the involved parties.
India-Canada trade target: $70 billion in five years as CEPA talks speed up
Canada and India are targeting an increase in bilateral trade, aspiring to reach USD 70 billion in five years. Ongoing negotiations for a Comprehensive Economic Partnership Agreement are expected to conclude soon. Recently, the fifth round of negotiations is planned to take place in Ottawa on October 5. Both nations have emphasized the importance of collaboration in energy and critical minerals for economic growth.
'Very good call': US Ambassador Sergio Gor on PM Modi-Trump telephonic conversation
Modi and Trump engaged in a telephone conversation reviewing bilateral cooperation. They discussed trade, defense, energy, and critical technologies during the call. Both leaders reaffirmed their commitment to advancing the India-US Comprehensive Global Strategic Partnership after evaluating ongoing regional and international developments. EAM S Jaishankar indicated progress on a mutually beneficial trade deal while addressing tariff concerns.
US Trade Representative Greer jokes Piyush Goyal is 'trade minister for life' as G20 trade talks open in Milwaukee
US Trade Representative Jamieson Greer opened a two-day G20 trade ministers' meeting in Milwaukee addressing key issues. During the event, Greer emphasized the need to rethink global trade governance and identified four pressing priorities. Union Commerce and Industry Minister Piyush Goyal participated actively, promoting India's position on trade agreements alongside his counterparts. The discussions included initiatives concerning steel overcapacity, forced labour, and the Most-Favoured-Nation principle.
Commerce Minister Goyal meets USTR Greer on sidelines of G20 meet
Piyush Goyal met with Jamieson Greer in Milwaukee to advance discussions on a bilateral trade agreement. This meeting occurred during the G20 Trade Ministerial and follows a conversation between Prime Minister Narendra Modi and US President Donald Trump. Goyal expressed confidence that the trade pact will be finalized once competitive advantages are established. The negotiations are influenced by changes in the US tariff landscape affecting various Asian competitors.
India and Qatar accelerate talks on Bilateral Investment Treaty and Free Trade Agreement amidst USD 10 billion investment
India and Qatar have agreed to accelerate discussions on a Bilateral Investment Treaty and Free Trade Agreement. Finance Minister Nirmala Sitharaman and Qatar’s Minister of State for Foreign Trade reviewed investment opportunities in key sectors. Both nations aim to implement a USD 10 billion Qatari investment commitment and establish a QIA office in India. Sitharaman also emphasized the need for normal trade flows in the Gulf region.
China, US slash tariffs on USD 30 billion on imports: Chinese Commerce Ministry
In a significant development, China and the United States have finalized ten key outcomes during their recent economic and trade discussions. Among these, both nations agreed to implement reciprocal tariff reductions valued at USD 30 billion on each other's imports.
China is building a new rulebook for dealing with the US — tariffs are only the beginning of a much broader reset
China and the United States have established a reciprocal framework for tariff reductions on approximately $30 billion of goods from each side. They created two new boards to facilitate trading and investment discussions as a means of ongoing economic cooperation. Additionally, a dedicated dialogue on artificial intelligence (AI) issues has been initiated between the two nations. The Kuala Lumpur trade arrangement has also been extended for further negotiations.
India-Jordan trade: Sitharaman seeks deeper ties, $5 billion target by 2030
Finance Minister Nirmala Sitharaman met with Jordan's Minister of Planning Zeina Zeid Toukan in Doha. The two ministers discussed ways to enhance bilateral cooperation in various sectors, including food security and trade. Sitharaman emphasized the goal of reaching $5 billion in bilateral trade by 2030. Jordan expressed interest in strengthening ties with India, particularly in energy and infrastructure.
India left more exposed to Trump's 100% oil threat as China gets tariff breather
India could find itself more exposed to US tariff pressure over Russian oil after Washington and Beijing extended their Busan trade truce until January 10, 2027, according to GTRI. The think tank's founder Ajay Srivastava argues that China's tariff breathing room leaves New Delhi facing greater risk from Trump's new powers to impose tariffs of up to 100% on major buyers of Russian energy.
After Trump-Xi handshake, Bessent says US-China 'Busan Agreement' extended till January 10
US Treasury Secretary Scott Bessent announced the extension of the trade truce with China until January 10. This agreement allows more time for both nations to pursue a broader economic deal. Bessent also discussed the growing economic pressure on Iran and potential outcomes for the conflict. Furthermore, he highlighted discussions on artificial intelligence and proposed a safety notification mechanism.
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