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Mar 12, 2025 News Image India, US plan to negotiate trade pact, increase market access, cut duties: Govt to Parliament.
India and the US are planning to negotiate a trade agreement and both countries will focus on increasing market access, reducing import duty and non-tariff barriers, and enhancing supply chain integration, Parliament was informed on Tuesday. 'Both countries plan to negotiate a mutually beneficial, multi-sector Bilateral Trade Agreement,' said Minister of State for Commerce and Industry Jitin Prasada in a written reply to the Lok Sabha, adding that as on date, reciprocal tariffs have not been imposed by the US on India.
 Source:  economictimes.indiatimes.com
Mar 12, 2025 News Image Govt ready to include farmers in PM Kisan Samman Nidhi who are not part of it yet: Agri minister.
The government is ready to provide Rs 6,000 annual cash benefit under the PM Kisan Samman Nidhi to all eligible farmers who are not part of it yet, Union Agriculture Minister Shivraj Singh Chouhan said in the Lok Sabha on Tuesday. He asked all state governments to cooperate with the Centre in identifying such farmers and ensuring their inclusion in the scheme.
 Source:  economictimes.indiatimes.com
Mar 12, 2025 News Image Kazakhstan, India Strengthen Ties via North-South Transport Corridor.
Kazakh and Indian experts discussed trade relations and the role of the International North-South Transport Corridor (INSTC) in boosting economic ties during a special event on March 11 at Maqsut Narikbayev University. The discussion highlighted the importance of cooperation and the route’s potential to drive the region’s economic growth. Participants noted that the INSTC offers advantages beyond increased cargo transportation and reduced travel time. It also enhances supply chain efficiency for assembly plants, attracts skilled professionals, and facilitates the introduction of advanced technologies in digitalization and logistics infrastructure.
 Source:  astanatimes.com
Mar 12, 2025 News Image No agreement yet with US on trade tariffs, talks on: Commerce Secy Sunil Barthwal informs parliamentary panel.
Just days after US President Donald Trump said that India has 'agreed' to 'cut their tariffs way down', Commerce Secretary Sunil Barthwal informed the Parliamentary Standing Committee on External Affairs on Monday that negotiations between the two nations are still on and no agreement on trade tariffs has been reached so far.
 Source:  indianexpress.com
Mar 12, 2025 News Image US was among top 10 importers in half of the 118 countries that exported dairy products in 2023.
Besides steel and aluminium, which are bound to face higher tariffs for imports to the US from March 12, another flashpoint for US President Donald Trump is the dairy trade. A Moneycontrol analysis shows that US action on the front is expected to hurt most countries, including India, as the North American nation accounts for nearly 4 percent of global dairy imports and over 6 percent of exports.
 Source:  moneycontrol.com
Mar 12, 2025 News Image To get past US tariffs, India to take FTA route; increased market access, lower duties on cards.
As India and the US negotiate a trade pact, both sides will focus on increasing market access, reducing import duty and non-tariff barriers apart from enhancing supply chain integration, the government informed Parliament on Tuesday.
 Source:  economictimes.indiatimes.com
Mar 11, 2025 News Image India uses mango diplomacy to strengthen U.S. trade ties.
India has long used mangoes as a diplomatic tool, a practice that dates back to the 1950s when Prime Minister Jawaharlal Nehru gifted mangoes to foreign dignitaries. One notable moment came in 1955 when Chinese Premier Zhou Enlai, known for his reserved demeanor, reportedly softened after tasting a mango from Nehru. 'His beetling brow relaxed, his lips rippled into a smile,' a contemporary report noted. This moment underscored the power of cultural diplomacy, using a simple fruit to build goodwill between nations.
 Source:  freshplaza.com
Mar 11, 2025 News Image Goyal to discuss trade issues with export councils on Mar 13 amid Trump tariff threat.
Commerce and Industry Minister Piyush Goyal will on Thursday hold discussions with export promotion councils on trade issues amid the threat of imposition of reciprocal tariffs by the US, an industry official said In the meeting, exporters are expected to raise issues pertaining to the proposed bilateral trade agreement between India and the US, the official added.
 Source:  economictimes.indiatimes.com
Mar 11, 2025 News Image India readies terms of reference for bilateral trade pact with US.
India has started working on the terms of reference (ToR) for a potential bilateral trade agreement (BTA) with the US as the two sides aim to conclude the first tranche of negotiations by fall this year. The terms of reference would detail the purpose and structure of the negotiations. The commerce and industry ministry has also sought wish lists of various industries and tariff concessions they expect from Washington under the pact. 'Inputs have been sought from various stakeholders as both sides aim to increase exports,' said an official.
 Source:  economictimes.indiatimes.com
Mar 11, 2025 News Image DGFT exempts certificate of inspection for export of basmati, non-basmati rice to Europe except UK.
India has exempted the need for a certificate of inspection for European countries except the UK, Iceland, Liechtenstein, Norway, and Switzerland for export of basmati and non-basmati rice. A notification has been issued in this regard on Monday which said that exports to other European countries, barring the five, are exempt from this requirement for six months.
 Source:  tribuneindia.com