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May 26, 2025 Decathlon plans to double sourcing from India once EU FTA is finalised. French sporting goods retailer Decathlon plans to double its sourcing of goods from India once the country's free trade agreement (FTA) with the European Union (EU) is finalised, Sankar Chatterjee, the chief executive of the company's India operations, told ET. Decathlon Sports India's Chatterjee said if the FTA comes through as expected by December, the Indian production market for sporting goods could see a boom. Source: economictimes.indiatimes.com
May 26, 2025 India, Maldives to review implementation of economic, maritime security partnership on Monday. External Affairs Minister S Jaishankar and his Maldivian counterpart Abdulla Khaleel will on Monday take stock of the implementation of the India-Maldives comprehensive economic and maritime security partnership. Khaleel, accompanied by a high-level delegation, is paying a three-day visit to India beginning Sunday evening. It is his third trip to India this year. The India-Maldives vision document on comprehensive economic and maritime security partnership was adopted by Prime Minister Narendra Modi and Maldivian President Mohamed Muizzu in October last year. Source: economictimes.indiatimes.com
May 26, 2025 MoFPI Invites EoI for Agro Processing Clusters under PMKSY. Ministry of Food Processing Industries, Government of India, has invited applications through Expression of Interest (EoI) dated 14.05.2025 under Scheme for Creation of Infrastructure for Agro Processing Industries (APC) of PRADHAN MANTRI KISAN SAMPADA YOJANA (PMKSY) from prospective entrepreneurs for setting up of Agro processing Clusters with closing date as 14th July, 2025 at 17.00 hrs. Source: pib.gov.in
May 26, 2025 Piyush Goyal meets US commerce secretary for 2nd time in a week to discuss proposed trade pact. Commerce and Industry Minister Piyush Goyal on Friday met US Commerce Secretary Howard Lutnick in Washington, their second meeting within a week, to discuss the proposed bilateral trade agreement currently under negotiation between the two countries. On May 20 also, Goyal held a meeting with Lutnick to expedite the talks on the first phase of the trade pact. 'Held a constructive meeting with Secretary @HowardLutnick for a mutually beneficial trade agreement. Committed to enhancing opportunities for our businesses and people,' Goyal said in a post on X. Source: economictimes.indiatimes.com
May 26, 2025 BRICS trade ministers' meet: India calls for dismantling export controls among members. India has urged member nations of BRICS group to dismantle export controls within the bloc to boost trade, an official statement said on Friday. Representing India at the 15th BRICS trade ministers' meeting in Brazil, Economic Adviser in Department of Commerce Yashvir Singh emphasised the need to eliminate restrictive trade measures that disrupt critical supply chains. 'India used the platform to oppose export controls among BRICS members, encouraging mutual support within the bloc,' the commerce ministry said. Source: economictimes.indiatimes.com
May 23, 2025 India set for record wheat harvest after favourable weather boosts yield. India’s wheat output, which was threatened by the second-warmest February in over a century, is likely to be a bumper one this year as favorable weather during the crucial grain-filling stage improved yields. The world’s second-biggest grower is set for a record harvest as climatic conditions were good, and there were no reports of any major damage due to hailstorms or crop diseases, said Ratan Tiwari, director of state-run Indian Institute of Wheat and Barley Research. The increased use of climate-resilient, high-yielding seeds further helped in improving productivity, he said. Source: business-standard.com
May 23, 2025 UK to give non-discriminatory treatment to India in procurement under FTA. The UK for the first time has agreed to accord non-discriminatory treatment to Indian companies in its public procurement system under the free trade agreement (FTA) between the two countries, an official said. On May 6, the two announced conclusion of negotiations for the FTA. It will be implemented next year. Source: business-standard.com
May 23, 2025 India and Singapore Strengthened Trade Ties with AEO Agreement. The agreement was formalised between Shri Sanjay Kumar Agarwal, Chairman of the Central Board of Indirect Taxes and Customs (CBIC) of India, and Mr. Tan Hung Hooi, Director-General of Singapore Customs. The AEO MRA aims to recognise the compatibility of both countries’ Authorised Economic Operator programmes. This arrangement is expected to facilitate faster and more secure customs procedures for certified companies, thereby promoting trusted trade and improving the efficiency of regional supply chains. It also underscores the commitment of both nations to improving cross-border trade facilitation and enhancing economic cooperation in the Asia-Pacific region. Source: indiplomacy.com
May 23, 2025 IIMR-run incubator powers India’s millet start-up boom. If you’ve bought a millet biscuit packet or any other millet-based product from a retail store anywhere in the country, the manufacturer is probably linked to Nutrihub in Hyderabad in one way or the other. It has so far nurtured over 500 millet start-ups, which have raised an aggregate of ₹1,000 crore in various funding rounds, triggering a consumption demand in the country. Source: thehindubusinessline.com
May 23, 2025 India seeks full exemption from US' 26% reciprocal tariffs in interim trade pact. India and the US are likely to announce an interim trade agreement before July 8, the day Washington's 26% reciprocal tariffs are due to come into force, an official said Wednesday. New Delhi is seeking full exemption from the additional 26% reciprocal tariffs on domestic goods, the official said, adding India will protect its sensitive sectors through quotas or minimum import price. Source: economictimes.indiatimes.com
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