1. Home
  2. Market Intelligence
  3. Market News
Archive
May 07, 2025 News Image India, UK seal free trade deal; PM Modi calls it 'historic milestone'.
After nearly three and a half years of intense negotiations, India and the United Kingdom (UK) on Tuesday announced the conclusion of talks for a free trade agreement (FTA) that will boost strategic and economic ties between the fifth- and sixth-largest economies in an era of geopolitical uncertainties and trade wars. The trade deal, once implemented, may make import of whisky, gin, automobiles, medical devices, electrical machinery, cosmetics, soft drinks, chocolates, and lamb cheaper for India. It will also lead to significant increase in export competitiveness of Indian shipments in the UK for sectors like textiles, toys, leather, marine products, footwear, and gems & jewellery. Sensitive items like dairy products, apples, cheese, etc, have been excluded from any duty concession by India to protect its farmers.
 Source:  business-standard.com
May 07, 2025 News Image UP plans to set up research centre on Kalanamak GI rice with IRRI.
After successfully getting an exemption for Kalanamak rice, a traditional non-basmati aromatic variety accorded Geographical Indication tag, from export ban last year, the Uttar Pradesh government plans to set up one 'Kalanamak Rice Research Centre' in Siddharthnagar district in collaboration with International Rice Research Institute (IRRI) to further strengthen scientific research and innovation.
 Source:  thehindubusinessline.com
May 07, 2025 News Image India gets duty-free access in key sectors like textiles, leather, processed food in UK trade pact.
Indian exports such as textiles, leather, footwear, and processed foods will attract nil duty in the UK under the free trade agreement between the two countries, offering a major boost to labour-intensive sectors. India and the UK clinched a 'landmark' trade deal that will remove taxes on the export of labour-intensive products such as leather, footwear and clothing, while making imports of whisky and cars from Britain cheaper, in a bid to double trade between the two economies to USD 120 billion by 2030.
 Source:  economictimes.indiatimes.com
May 07, 2025 News Image India, UK FTA: No duty concessions on British dairy products, apples, cheese.
India will not give any import duty concessions to the UK on sensitive agricultural items such as dairy products, apples, and cheese under the free trade agreement, an official said on Tuesday. The official said about 10 per cent of the tariff lines are in the sensitive items list. India and the UK on Tuesday announced conclusion of negotiations of the free trade agreement (FTA), talks for which was started in January 2022.
 Source:  economictimes.indiatimes.com
May 07, 2025 News Image Trade liberalisation on MFN basis with WTO nations to aid India: ADB's chief economist Albert Park.
India's proposed trade liberalisation, including likely tariff reductions in the under-negotiation trade deal with the US, could be 'actually beneficial' to the country, as per Asian Development Bank's chief economist Albert Park. However, he said, this rationalisation should be done on the most favoured nation (MFN) basis that requires equal treatment for all WTO members on trade issues.
 Source:  economictimes.indiatimes.com
May 07, 2025 News Image India has agreed already to drop its tariffs to nothing: President Trump.
US President Donald Trump on Tuesday said India has 'agreed' to drop its high tariffs 'to nothing'. 'I mean, India as an example, has one of the highest tariffs in the world. We're not going to put up with that, and they've agreed already to drop it. They'll drop it to nothing. They've already agreed. They would have never done that for anybody else but me,' Trump told reporters in the Oval Office.
 Source:  economictimes.indiatimes.com
May 06, 2025 News Image CM Dhami and Union Minister Shivraj Chouhan review agriculture, rural schemes in Uttarakhand.
Uttarakhand Chief Minister Pushkar Singh Dhami and Union Agriculture and Farmers Welfare and Rural Development Minister Shivraj Singh Chouhan held a key meeting on Monday to review the implementation of various Central government schemes under the Agriculture and Rural Development Departments in the state. Chief Minister Dhami welcomed the Union Minister to the state and expressed his gratitude for the Centre's continued support towards strengthening the agriculture and rural sectors in Uttarakhand.
 Source:  timesofindia.indiatimes.com
May 06, 2025 News Image Magic of millets: Transforming agriculture.
As the world is shifting its attention to sustainable agriculture, millets are gaining limelight as a promising alternative to paddy production in India. The 6.2% compound annual growth rate (CAGR) of millets globally, and the remarkable 16% CAGR of millet in India from 2024 to 2030, validate it. With the growing popularity of millets, the time is ripe for policymakers to boost millet production. However, for an effective transition, it is imperative to get farmers on board and excited about the change.
 Source:  financialexpress.com
May 06, 2025 News Image Amit Shah sets Rs.2 Lakh Crore Export target for National Cooperative Export Body, Pushes Global Outreach, Organic Expansion, and Seed Innovation.
Union Home Minister and Minister of Cooperation Shri Amit Shah has set an ambitious vision for the future of India’s cooperative sector, urging three key national-level cooperative institutions—National Cooperative Exports Limited (NCEL), National Cooperative Organics Limited (NCOL), and Bharatiya Beej Sahkari Samiti Limited (BBSSL)—to accelerate their impact on global trade, organic farming, and seed innovation. During a high-level review meeting in Delhi, attended by senior ministry officials and the managing directors of the three cooperatives, Shri Shah emphasized the government’s commitment to the “Prosperity through Cooperation” vision championed by Prime Minister Narendra Modi.
 Source:  impressivetimes.com
May 06, 2025 News Image New Zealand: Government kick-starts trade negotiations with India.
Trade Minister Todd McClay says a government delegation has landed in New Delhi to kick-start free trade negotiations. Following significant remote engagement over the past month, the first in-person round of negotiations towards a comprehensive India-New Zealand free trade agreement will take place in India this week.
 Source:  farmersweekly.co.nz