India, EU likely to go for comprehensive FTA; GI pacts to follow later.
India and the European Union (EU) are likely to agree upon a comprehensive free trade agreement (FTA) instead of an interim deal, an official said on Tuesday. However, the proposed investment treaty and a pact on geographical indications (GI) may not be concluded simultaneously.
Source: business-standard.com
Centre to spend Rs300 crore in setting up 3 horticulture facilities in Maharashtra, says Chouhan.
Union agriculture minister Shivraj Singh Chouhan on Tuesday announced that Central govt will set up three horticulture facilities for grapes, oranges and pomegranates in Pune, Nagpur and Solapur at a cost of Rs300 crore under its clean plants programme. These facilities among others will offer farmers healthy saplings for production of disease-free crops.'State has shown a path to the entire country by producing fine qualities of grapes, pomegranates, oranges, vegetables, and other agricultural produce. Centre will help the farmers increase production and get better returns for their crops,' he said while attending an agri hackathon organised at Agriculture College in Pune.Calling Maharashtra the horticulture hub of the country, the minister said during his recent visits to various states, farmers came up with complaints of not getting healthy saplings. 'Some private companies are also providing saplings that appear to be healthy, but when the yield comes, some bacteria or viruses are found in them,' he said.He said Centre will set up nine facilities across the country to boost horticulture production, of which three will be in Maharashtra.
Source: timesofindia.indiatimes.com
India-US trade deal in not-too-distant future: US Commerce Secretary Howard Lutnick.
Secretary of Commerce Howard Lutnick has said one should expect a trade deal between India and the US in the 'not-too-distant future' as the two countries have found a place that works for them. 'So the idea is when they put the right person and India put the right person on the other side of the table, and we've managed, I think, to be in a very, very good place,' Lutnick said in his keynote address at the eighth edition of the US-India Strategic Partnership Forum (USISPF) Leadership Summit here Monday.
Source: economictimes.indiatimes.com
Piyush Goyal pushes for bigger India-France trade game.
India can help French businesses become more competitive in manufacturing and tap global markets, commerce and industry minister Piyush Goyal said on Tuesday, stressing that it could be a shared mission where France and India collaborate closely to strengthen bilateral economic ties. He asked businesses to identify areas of trade where the two sides can help each other in crossing the Rubicon of regulation. 'Indian businesses are foxed navigating between the EU regulations and individual regulations in member countries,' Goyal said while addressing businesses of India and France.
Source: economictimes.indiatimes.com
Piyush Goyal meets Nigerian trade minister to strengthen trade ties.
Piyush Goyal and Jumoke Oduwole Oon met in Paris to enhance trade relations between India and Nigeria, focusing on new cooperation areas. Both ministers aim to advance WTO reforms for mutual benefit during the OECD Ministerial Council Meeting. Goyal's visit to France and Italy underscores India's dedication to strengthening economic ties with key European partners.
Source: timesofindia.indiatimes.com
India, Paraguay can expand trade with MERCOSUR, says PM Modi.
India and Paraguay can partner in expanding regional commerce in Latin America, said Prime Minister Narendra Modi on Monday (June 2, 2025). Mr. Modi welcomed Paraguay’s President Santiago Pena Palacios and presented the MERCOSUR trade bloc in Latin America as an arena where India and Paraguay can work together closely. Mr. Pena who is on his first visit to India described India as a 'key strategic partner' of his country.
Source: thehindu.com
'The Agriculture Minister is, first and foremost, the chief servant of the farmers.' – Shri Shivraj Singh.
As part of the ongoing ‘Viksit Krishi Sankalp Abhiyan’, Union Minister of Agriculture and Farmers’ Welfare, Shri Shivraj Singh Chouhan, on the fifth day of the campaign, interacted with farmers at the Krishi Vigyan Kendra in Piprakothi, East Champaran, Bihar. In his continued efforts of interacting with the farmers from Odisha, Jammu, Haryana, and Uttar Pradesh, Shri Chouhan engaged with the farming community of Bihar today.
Source: pib.gov.in
Duty cut on edible oils expected to lower raw material costs for food companies.
The government’s move to slash import duty on crude edible oils is expected to reduce raw material costs for food companies starting Q2FY26. Players said that this could help lower raw material costs while offsetting higher costs of other commodities. Analysts believe it is also expected to lead to improvement in margins of consumer product companies in the coming quarters if the lower prices sustain.
Source: thehindubusinessline.com
India-US trade pact: Effort on to facilitate preferential market access for both sides, says Piyush Goyal.
India and the United States are keen on providing preferential market access to each other's businesses, with teams from both nations collaborating on a proposed bilateral trade agreement, Commerce Minister Piyush Goyal said on June 2. In February, Donald Trump and Narendra Modi underlined the two sides' intentions to negotiate the initial phase of a mutually advantageous multi-sector Bilateral Trade Agreement (BTA) by the fall of 2025, specifically targeting September-October.
Source: economictimes.indiatimes.com
Thai rice exports decline as India re-enters market.
Thailand’s rice exports from January to March 2025 faced significant challenges with more Indian rice entering the global market, according to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture. During that time, Thai rice exports totaled 1.8 million tonnes, down 27% from the same period last year.
Source: ukragroconsult.com