India’s rabi crop acreage rises 2.8% as wheat, pulses sowing gets over.
With a coverage of 8 lakh hectares (lh) in the past week, the overall acreage of rabi crops reached 652.33 lh as of January 16, which is 2.8 per cent higher than 631.45 lh a year ago. As wheat, chana, masur, and mustard acreage has been completed, the weather from now until harvesting (in March) will play a critical role in determining a bumper output, as winter crops have limitations for withstanding higher temperatures.
Source: thehindubusinessline.com
Piyush Goyal meets US Ambassador Sergio Gor, Senator Steve Daines; discusses bilateral issues.
Commerce and Industry Minister Piyush Goyal on Monday met the US Ambassador to India, Sergio Gor, and American Senator Steve Daines and discussed bilateral issues. The meeting is important as India and the US are engaged in negotiating a bilateral trade agreement amidst a steep 50 per cent import duty imposed by the Donald Trump administration on Indian goods since August.
Source: economictimes.indiatimes.com
Govt permits exports of 5 lakh tonnes of wheat flour.
The government has permitted exports of 5 lakh tonnes of wheat flour and related products, according to a notification. This partial lifting of the ban was eased after a gap of over three years, when the centre banned wheat exports in 2022. India is a major producer of the commodity.
Source: economictimes.indiatimes.com
India, EU set to conclude FTA talks on January 27; deal after legal clearances.
India and the 27-nation European Union (EU) will announce the conclusion of negotiations for the much-anticipated free trade agreement (FTA) at a landmark Summit in the capital on January 27. Both sides are also set to sign a security and defence partnership agreement to add momentum to the strong political ties, said people in the know. A small military contingent from the EU will also be participating in the Republic Day parade on January 26, marking the first time that such a contingent will be taking part in a parade, the people said.
Source: economictimes.indiatimes.com
IMF raises India's FY26 growth forecast to 7.3%.
The International Monetary Fund (IMF) on Monday raised India’s FY26 growth estimate to 7.3%, from 6.6% projected earlier, citing a better-than expected performance in the third quarter and strong momentum in the fourth quarter.
Source: economictimes.indiatimes.com
US-EU bitter trade row may boost India exports, sweeten Europe FTA.
A brewing tariff war between the US and the European Union may stimulate Indian exports to the 27-nation EU bloc, with both sides currently in the final leg of protracted negotiations for a proposed free trade agreement (FTA). Trade watchers say the EU now has an added incentive to deepen trade ties elsewhere, including India, with the US turning aggressive on European exports.
Source: economictimes.indiatimes.com
Commerce Ministry formulates specific guidelines for missions abroad to boost exports.
The government has formulated specific guidelines for Indian missions abroad as it steps up efforts to boost exports through market diversification amid global economic uncertainties, an official said. The official said trade promotion guidelines for Indian commercial missions abroad include management of non-tariff barriers, market engagement activities, planning and resource management, trade intelligence and market research.
Source: economictimes.indiatimes.com
India-US partnership is growing across trade, technology: US Ambassador to India, Sergio Gor.
US Ambassador to India, Sergio Gor, on Sunday concluded his 'successful' visit to Mumbai, highlighting the growing partnership between India and the United States across trade, technology, education, energy and resilient supply chains. In a post on X, he said, 'Wrapping up a very successful trip to Mumbai! Great meetings with Devendra Fadnavis, RBI Governor Sanjay Malhotra, Chairman of Reliance Industries Mukesh Ambani, Chairman of Tata Companies N Chandrasekaran, executives from India's pharmaceutical sector, and religious faith leaders. We're building strong momentum across trade, technology, education, energy, and resilient supply chains as the US-India partnership continues to grow!'
Source: economictimes.indiatimes.com
GTRI calls for overhaul of tariff structure, customs to boost India's trade.
India needs a sweeping overhaul of its import tariff structure and customs administration to cut trade costs, strengthen manufacturing competitiveness and revive export growth, suggests trade-focused think-tank Global Trade Research Initiative (GTRI). The report, titled ;A Blueprint for Modernizing India's Import Tariffs and Customs Regime', outlined the need for reforms, spanning tariff policy, customs procedures, export incentives and manpower deployment.
Source: economictimes.indiatimes.com
Exports 'highly positive' in January so far: Piyush Goyal.
Commerce and Industry Minister Piyush Goyal said on Friday that the country's exports during the fortnight of January are 'highly' positive, global economic uncertainties notwithstanding. The minister, however, did not disclose the numbers.
Source: economictimes.indiatimes.com