Indian trade negotiators in US for trade talks.
Indian trade negotiators are visiting Washington for the next round of talks for an interim trade deal with the US ahead of the July 9 deadline when the 90-day reciprocal-tariff pause period ends. The two-day visit comes after American trade negotiators visited India from June 5- 11 for the talks.
Source: economictimes.indiatimes.com
Oman DTAA: Withholding tax rates lowered.
India and Oman have amended their double taxation avoidance agreement (DTAA), expanding the definition of permanent establishment to cover digital and service-based operations. The amendment, notified Thursday, reduced withholding tax rates on interest and royalty payments for technical services to 10% from 15%, while applying a Principal Purpose Test to prevent abuse of the treaty for tax evasion.
Source: economictimes.indiatimes.com
India-UK FTA to include co-equal origin provision; product-specific norms to offer flexibility.
The draft India–UK free trade agreement (FTA) has introduced a 'coequal' rule or product-specific origin norms to offer greater flexibility to specific goods, said people aware of the matter. The rule will allow the producer of a good to meet any of the criteria of origin to claim benefits under the FTA.
Source: economictimes.indiatimes.com
India to remain a bright spot amid global uncertainty: World Bank's Auguste Kouame.
India is expected to remain a bright spot in the global economy despite trade and policy uncertainty, economists and experts noted at a panel discussion on Thursday. 'India has a strong domestic economy and remains a bright spot in the global economy,' said Auguste Kouame, country director for India at the World Bank.
Source: economictimes.indiatimes.com
Basmati export centre coming up in Pilibhit to boost premium production.
Farmers in Pilibhit are preparing to take their high-quality Basmati rice to over 100 countries with support from the Agricultural and Processed Food Products Export Development Authority (APEDA). To boost exports and improve local production, APEDA is setting up Uttar Pradesh's second Basmati Export Development Foundation (BEDF) in Pilibhit, following a Rs 10 crore project in Meerut.The move comes after efforts by Union minister of state for commerce and industry Jitin Prasada who is also the MP of Pilibhit.
Source: timesofindia.indiatimes.com
US & EU trade pacts to be concluded soon: Nirmala Sitharaman.
The negotiations for a bilateral trade deal with the United States and a free trade agreement with the European Union (EU) are progressing 'really intensely' and should be concluded soon, finance minister Nirmala Sitharaman said Tuesday. Countering a US-led narrative that India is a 'tariff king,' she said the government has brought down customs duty slabs to eight 'including the zero rate' and that effective rates are much lower than the tariff rate, or the maximum possible tax on imports.
Source: economictimes.indiatimes.com
Bihar sets litchi export record with 250 tons.
Bihar's Shahi litchi, noted for its distinctive sweetness and pulp, recorded an export milestone in 2025. A total of 250 tons of this fruit shipped from Darbhanga airport to key Indian cities reflects a 108% increase over the previous year's 120 tons.
Source: freshplaza.com
UAE Ambassador to India Launches Landmark Start-up Series to Power Cross-Border Innovation.
The UAE-India CEPA Council (UICC), in partnership with the Embassy of the United Arab Emirates in India, launched the UAE–India CEPA Start-up Series in New Delhi. The initiative delivers on a key commitment under the UAE–India Comprehensive Economic Partnership Agreement (CEPA) to promote innovation-led collaboration and support the internationalisation of Indian start-ups.
Source: economictimes.indiatimes.com
Record potato, banana output drives India’s horticulture production to new high.
India’s horticulture production has been estimated to have increased to a new high of 367.72 million tonnes (mt), thanks to potato production surging to a record high of over 60 mt and onion output rising 6.5 mt. Releasing the horticulture production estimated for the 2024-25 crop year ending this month, the Centre said the output of various horticulture crops increased by 3.66 per cent in the current crop year from 354.74 mt in 2023-25. This was made possible due to higher productivity. However, the area under horticulture crops increased increased by less than 2 lakh hectares (lh).
Source: thehindubusinessline.com
Shri Goyal Emphasizes on need for Self-Reliance and Export Competitiveness in Key Sectors.
India must focus on the sectors in which India has competitive edge over other countries and address the problems faced by the various stakeholders so that country’s exports can grow. This was stated by Union Minister of Commerce and Industry, Shri Piyush Goyal at the review meeting on Production Linked Incentive Scheme, one of the notable initiatives for making India 'Aatmanirbhar’ in the manufacturing sector.
Source: pib.gov.in