Commerce minister Piyush Goyal confident of US trade pact ahead of tariff deadline.
Commerce minister Piyush Goyal said he was optimistic that India could reach an agreement with the US ahead of an August 1 deadline to avert threatened tariffs of 26%. 'I'm always confident,' Goyal said in an interview Thursday with Bloomberg TV in London, when asked how he was feeling about prospects for a pact.
Source: economictimes.indiatimes.com
India and UK Sign Comprehensive Economic and Trade Agreement (CETA).
India and the United Kingdom have taken a major step in building a stronger economic partnership with the signing of the Comprehensive Economic and Trade Agreement (CETA) today under the visionary leadership of Prime Minister Shri Narendra Modi. The agreement was signed by Commerce and Industry Minister, Mr. Piyush Goyal and Secretary of State for Business and Trade, Mr. Jonathan Reynolds in the presence of the two Prime Ministers.
Source: pib.gov.in
Seafood, agriculture companies eye larger market share.
India's Rs.60,000 crore seafood export industry, which has been facing tariff related uncertainties in its largest market in the US, could see duty-free access for Indian marine products to the UK under the FTA and double India's market share there. 'As the seafood sector faces challenging times due to the ongoing issues regarding the US tariffs, zero duty access to the UK will open a new market for the Indian seafood sector. We can double our existing exports to the UK in one or two years,' said Pawan Kumar G, president, Seafood Exporters'Association of India.
Source: economictimes.indiatimes.com
Centre has surplus rice and wheat stocks above buffer norms to control inflation
Centre on Monday, July 22, 2025, announced that the country has surplus stocks of rice and wheat, well above the prescribed buffer norms, and measures are being taken to keep prices stable. According to official data, as of July 1, 2025, India’s food grain reserves are robust, with rice stocks standing at 377.83 lakh metric tonnes against a buffer requirement of 135.40 lakh metric tonnes. Wheat reserves are at 358.78 lakh metric tonnes, while the buffer norm is 275.80 lakh metric tonnes. Together, the total stock of rice and wheat has reached 736.61 lakh metric tonnes, providing a strong cushion for food security.
Source: https://krishijagran.com
GI tag sought for Kancheepuram idli
The Tamil Nadu Food Processing and Agri Export Promotion Corporation (TNAPEx) has filed an application seeking a Geographical Indication (GI) tag for the famous Koil (temple) idli or Kancheepuram idli, which is one of the offerings at the Sri Varadharaja Perumal temple in the town mostly known for its silk sarees. The Madurai Agribusiness Incubation Forum, an initiative of NABARD and TNAU, was the facilitator for this application.
Source: https://www.thehindu.com
Commerce Ministry highlights key initiatives to boost India's trade and startup ecosystem
The Ministry of Commerce and Industry, led by Union Minister Piyush Goyal, has unveiled a series of significant initiatives taken over the past week, aimed at strengthening India's trade ecosystem.Piyush Goyal posted a notable recognition of grassroots entrepreneurship on the social media platform 'X'. The Ministry hosted the One District One Product (ODOP) Awards, presenting 34 awards across three categories.
Source: https://economictimes.indiatimes.com/
Mango Production Estimated at 228.37 LMT for 2024-25; Govt Strengthens Support for Farmers
Mangoes production in India during 2024-25 is estimated to be 228.37 lakh metric tonnes (LMT), according to the second advance estimate shared by Minister of State for Agriculture and Farmers Welfare, Ramnath Thakur, in a written reply to the Lok Sabha on July 22, 2025. In comparison, the production during 2023-24 was 223.98 LMT. The higher production is mainly due to better output of processable mango varieties, particularly in the southern states. To ensure farmers receive fair prices for their produce, especially during times of oversupply, government has been actively implementing the Market Intervention Scheme (MIS) under the Pradhan Mantri Annadata Sanrakshan Abhiyan (PM-AASHA).
Source: https://krishijagran.com/
India likely to become a key player in global cereal market
By 2034, India is expected to contribute nearly 30 per cent of the global increase in wheat output, fuelled by rising yields and area expansion, spurred by Atma Nirbharta initiatives. It is also set to overtake China as the world’s largest rice producer, accounting for 41 per cent of the projected rise in global output. However, rising domestic demand, especially for wheat, means India may turn into a net importer by the end of the forecast period.
Source: https://www.thehindubusinessline.com
PM Modi reaches UK; likely to seal FTA
Prime Minister Narendra Modi on Wednesday reached the UK with the formal signing of the landmark India-UK Free Trade Agreement (FTA) expected to be the key outcome of his two-day trip. Modi will hold wide-ranging talks with British Prime Minister Keir Starmer on Thursday. Starmer will host Modi at Chequers, the British prime minister's official country residence near London. Commerce minister Piyush Goyal is likely to sign the FTA alongside his UK counterpart Jonathan Reynolds after three years of intense negotiations. The UK views the deal as its biggest trade win since Brexit and hopes it will inject fresh momentum into research and technology partnerships with India.
Source: https://economictimes.indiatimes.com/
Gujarat mango exports rise to 856 MT in 2024–25
Gujarat's mango exports have shown a consistent increase over the past five years, reaching 856 metric tons in 2024–25 and totaling over 3,000 metric tons since 2019. The mangoes have been distributed to several international markets, including the U.S. and South Africa, with the Kesar variety being notably sought after due to its unique flavor and aroma, as noted by the Gujarat government. State Agriculture Minister Raghavji Patel indicates that mango cultivation spans approximately 1.77 lakh hectares in the region, constituting 37% of Gujarat's overall fruit cultivation area.
Source: https://www.freshplaza.com