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Jun 12, 2025 News Image India-EU Free Trade Agreement feasible by end of 2025: S Jaishankar.
India places a high priority to its relations with the European Union, the centrepiece of which is the Free Trade Agreement negotiations that are making very good progress, External Affairs Minister S Jaishankar said here on Wednesday. During a conversation with The Financial Times Brussels Bureau Chief Henry Foy at the German Marshall Fund (GMF) Forum, the external affairs minister expressed confidence that the year-end timeline set for the completion of the India-EU Free Trade Agreement (FTA) seems 'feasible' following his in-depth talks with EU officials this week.
 Source:  economictimes.indiatimes.com
Jun 11, 2025 News Image India will certainly cross $825 bn exports in FY26: Commerce minister
Despite the impact of conflicts such as the Russia–Ukraine war, the Israel–Hamas war, and the Red Sea crisis, India recorded its highest-ever exports in 2024–25, reaching $825 billion, up from $778 billion in FY24. “The world is going through severe geo-political challenges. So, these are challenging times, but India has always emerged (as) a winner in challenging times and we did a record $825 billion in exports in 2024–25. This year, we hope to do much better,” Goyal told news agency PTI. Goyal also said the proposed national e-commerce and retail trade policies remain under discussion, given their interlinked nature. “We did come out with certain ideas, but I think we will have to revise the policy to make it more contemporary, and it is under discussion,” he added. The Department for Promotion of Industry and Internal Trade (DPIIT) has asked the National Traders’ Welfare Board to suggest inputs for drafting the national retail trade policy.
 Source:  https://www.business-standard.com
Jun 11, 2025 News Image Malaysia's ASEAN Chairmanship To Boost India Trade, Investment Ties: Official
Highlighting the critical role of India as a strategic ASEAN partner, he said, “In today’s complex global environment, it is very important for both countries to collaborate in strengthening our global supply chains for sustainable growth.” He noted that India and Malaysia share strong historical ties that must be further deepened through mutual trade and technology exchange. Malaysia recorded economic growth worth USD 18.25 billion in 2024, with palm oil being its top export to India. In contrast, petroleum products form the bulk of India’s exports to Malaysia. He also informed that Indian companies have invested USD 2.87 million in Malaysia. Electrical and electronics was underscored as a key sector for collaboration, along with digital innovation and data Centre development. “India’s strength in software and digital solutions can play a crucial role in boosting Malaysia’s digital economy,” he added, pointing to recent major investments by global tech giants such as Microsoft and Amazon in Malaysia’s data infrastructure.
 Source:  https://www.businessworld.in/
Jun 11, 2025 News Image Goan feni is GI-tagged: A milestone for this homegrown spirit
Goa has achieved a milestone moment as Ozzo Feni, produced by Cazcar Distillery in Nanora village near Panaji, has become the first-ever feni to receive a Geographical Indication (GI) tag in India. This means that feni is now recognised for its unique preparation in a specific geographical location (Goa, in this case) and protects it from other imitations and increases its marketability factors both domestically and internationally.
 Source:  https://www.hindustantimes.com
Jun 11, 2025 News Image India, China set to drive palm oil market with aggressive buying, industry expert says
Demand for palm oil from India and China is expected to increase in coming months as recent price corrections provide attractive entry points for the big buyers, an industry expert said on Tuesday. Prices of palm oil in Malaysia gained nearly 20% last year, but shed around 12% so far this year as the high prices led to palm oil losing some competitive edge to rival oils such as soyoil. "We feel in the short term, those markets will come back. We see heavy buying from India, China," Julian McGill, managing director of advisory firm Glenauk Economics, said.
 Source:  https://economictimes.indiatimes.com
Jun 11, 2025 News Image We are 'really very near' to concluding FTA with EU: Piyush Goyal
Commerce and Industry Minister Piyush Goyal on Tuesday said India and the 27-nation EU bloc are "really very near" to concluding talks for the proposed free trade agreement, with only a few issues left to be resolved. He said India and the European Union (EU) have both agreed to respect each other's sensitivities so that they do not let the irritants hold back agreements."I would believe that in the case of the European Union, we are really very near. I think we are very close to finalizing a very good, robust free trade agreement with the EU faster than most people would imagine," Goyal told reporters here.
 Source:  https://economictimes.indiatimes.com
Jun 11, 2025 News Image India's story - in 30 years from 270 billion to 4 trillion dollars: Piyush Goyal
Union Commerce and Industry Minister Piyush Goyal on Tuesday highlighted India's remarkable economic performance, stating that the country has surged from a USD 270 billion economy to USD 4 trillion in just three decades. Addressing the Swissmem Industry Day in Switzerland, Goyal said India aspires to be a USD 30-35 trillion economy by the time the country marks 100 years of independence.
 Source:  https://economictimes.indiatimes.com
Jun 11, 2025 News Image Sugar exports top 5.5 lakh tonnes, may end up at 8 lt
India exported 2.29 lakh tonnes (lt) of sugar in the past two months, taking total shipments to 5.38 lt since the government allowed 10 lt exports on January 20 for the current season ending September 30.However, as 23,219 tonnes were on transit or waiting for loading at ports, the total quantity can be pegged at over 5.61 lt. In the ongoing 2024-25 sugar season until May 31, the position on physical sugar dispatches from sugar mills for export was 5.17 lt as per the provisional data sourced from Dr. Amin Controllers, the All India Sugar Trade Association (AISTA) said in a statement on Tuesday. The quantity included 4.10 lt of white sugar, 25,382 tonnes of raw sugar and 81,845 tonnes of refined variety.
 Source:  https://www.thehindubusinessline.com
Jun 11, 2025 News Image India’s spice exports hit a new high of $4.72 billion in FY25 on strong demand
The record shipments in FY25 is despite chillies witnessing a decline in value due to fall in prices. Chillies remain the largest product in India’s spice basket, both in volumes and value, accounting for over a fourth of total spice exports. India’s chilli exports were down 11 per cent to $1.34 billion during FY25, from $1.50 billion in the previous year. The fall in prices impacted the chilli exports despite volumes witnessing an increase of around 19 per cent to 7.15 lakh tonnes ( 6.01 lakh tonnes).
 Source:  https://www.thehindubusinessline.com/
Jun 11, 2025 News Image Nabard’s annual mango festival begins at Odisha
With Odisha emerging as a mango-growing hub with unique varieties and growing global appeal, the Annual Mango Festival, is a step towards fulfilling its market potential. The festival is being held from June 10 to 12 at the Nabard Regional Office campus at Nayapalli in Bhubaneswar, bringing the best of Odisha’s mangoes. The festival, which began in 2003-04, is part of Nabard’s flagship tribal development fund (TDF) initiative to promote small orchard-based livelihoods — the Wadi — among tribal families. Mango cultivation, central to this effort, has transformed degraded lands into income-generating assets, an official release said.
 Source:  https://www.thehindubusinessline.com