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Showing posts with the label Trade

Narendra Modi, Emmanuel Macron Elevate India-France Ties to ‘Special Global Strategic Partnership’

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  India and France have taken a decisive step in strengthening their long-standing partnership by elevating their ties to a “Special Global Strategic Partnership.” The announcement came during French President Emmanuel Macron’s fourth state visit to India, marking a significant milestone in diplomatic engagement between the two nations. Hosting President Macron at Lok Bhavan in Mumbai, Prime Minister Narendra Modi described the India-France relationship as a “force for global stability” in an increasingly uncertain world. The leaders emphasized shared democratic values, strategic autonomy, and a commitment to multilateralism as pillars of their cooperation. According to an official government statement, the upgraded partnership aims to reinforce sovereignty and decision-making autonomy while deepening collaboration in critical and emerging sectors of the future. Defence Cooperation at the Core Defence has traditionally been the backbone of India-France relations, and the latest a...

Made in India Products to Get Reduced 18% US Tariff After Modi–Trump Talks

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  Prime Minister Narendra Modi and US President Donald Trump discussing India–US trade cooperation and tariff reduction on Made in India products. Prime Minister Narendra Modi has announced that Made in India products exported to the United States will now face a reduced tariff of 18%, marking a significant development in bilateral trade relations between the world’s two largest democracies. The announcement followed a conversation between Prime Minister Modi and US President Donald Trump , after which both leaders shared details through social media posts. The reduction brings down the earlier reciprocal tariff rate of 25% to 18%, a move that is expected to provide relief to Indian exporters while reinforcing economic cooperation between India and the United States. Announcement After High-Level Talks Prime Minister Modi shared the update after speaking with President Trump, describing the interaction as “wonderful” and referring to the US President as a “dear friend.” In his mes...

India–UAE AI Partnership Deepens with Supercomputing, Web3 Corridor and Advanced Technology Cooperation

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  India and UAE flags symbolizing strategic partnership in artificial intelligence, supercomputing, and advanced technologies India and the United Arab Emirates are significantly deepening their strategic partnership in artificial intelligence and advanced technologies, reinforcing a shared vision of technology-driven economic growth. With supercomputing infrastructure, expanded data centres, Web3 collaboration, and a wide-ranging Memorandum of Understanding (MoU), the India–UAE relationship is emerging as a powerful global model for responsible and innovation-led digital transformation. For India, this partnership supports national priorities under the India AI Mission , while for the UAE, it strengthens its position as a global and regional leader in artificial intelligence and future technologies. Supercomputing and Data Infrastructure: Powering India’s AI Mission India–UAE AI Cooperation | Supercomputing, Web3 & Advanced Technologies A key pillar of the cooperation is...

India–UAE Strategic Defence Partnership Takes Shape After Landmark Modi–MBZ Summit

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  Prime Minister Narendra Modi welcomes UAE President Sheikh Mohamed bin Zayed Al Nahyan during his official visit to New Delhi for bilateral talks on strategic defence cooperation. India and the United Arab Emirates marked a major milestone in their bilateral relationship on January 19, as the two nations signed a Letter of Intent (LoI) to establish a comprehensive Strategic Defence Partnership framework . The agreement was formalised during UAE President Sheikh Mohamed bin Zayed Al Nahyan’s official visit to New Delhi, underscoring the deepening trust and expanding scope of India–UAE cooperation . Prime Minister Narendra Modi personally received the UAE President at the airport , a gesture reflecting the warmth and importance attached to the visit. The leaders later held extensive bilateral talks at the Prime Minister’s official residence, 7 Lok Kalyan Marg , during what Foreign Secretary Vikram Misri described as an “extremely substantive” three-hour summit. Strategic Defence...

India and China Review Progress on Rebuilding Bilateral Ties with Focus on People-Centric Engagement

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  India and China discuss rebuilding bilateral relations in New Delhi, focusing on business, people-to-people engagement, and gradual normalisation following high-level diplomatic talks.  India and China took another measured step toward stabilising and rebuilding their bilateral relationship as India’s Foreign Secretary Vikram Misri met Ms Sun Haiyan , Vice Minister of the International Department of the Central Committee of the Communist Party of China, in New Delhi. The meeting reflected ongoing diplomatic efforts by both sides to move forward cautiously, with a renewed emphasis on business cooperation, people-centric engagement, and gradual normalisation of ties. According to a statement issued by India’s Ministry of External Affairs (MEA), the discussions focused on the progress made so far in stabilising relations and identifying ways to take bilateral engagement forward in the coming year. The talks come at a time when both nations are seeking to balance strategic comp...

India Tightens Steel Import Rules

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  India has imposed a three-year safeguard tariff ranging between 11% and 12% on select steel imports to protect domestic manufacturers from a surge of low-priced shipments, primarily from China.  The move aims to ensure fair competition, stabilize local steel prices, and support Indian producers facing pressure from cheaper overseas supply. By curbing dumping practices, the government hopes to strengthen the domestic steel industry while maintaining long-term trade balance and industrial resilience.

New Zealand to Invest $20 Billion in India

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  New Zealand has announced plans to invest nearly $20 billion in India’s manufacturing and infrastructure sectors over the next 15 years, marking a major boost to bilateral economic ties. The long-term investment will focus on areas such as advanced manufacturing, renewable energy, logistics, transport infrastructure, and technology-driven industries.  The move reflects New Zealand’s growing confidence in India’s economic growth story and its expanding industrial base, while also opening new opportunities for collaboration, job creation, and sustainable development in both countries.

Strengthening India-UAE Trade Relations: A Vision for 2030

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  India and the UAE are charting a bold path to deepen their economic partnership, setting an ambitious trade target of $100 billion by 2030 , with a strong focus on non-oil and non-precious metals sectors. This vision highlights a commitment to fostering sustainable growth, investment, and innovation. Key sectors driving this initiative include pharmaceuticals, Ayurveda, and healthcare research . Efforts are underway to accelerate drug approvals and expand India’s Ayurveda offerings to meet the rising demand for health and wellness products in the UAE. Both nations are also encouraged to collaborate on research and innovation to strengthen the quality and reach of medical products. The Comprehensive Economic Partnership Agreement (CEPA) serves as a cornerstone of this vision, streamlining trade processes, reducing barriers, and creating opportunities across diverse sectors. By leveraging their respective strengths, India and the UAE are building a long-term framework for strate...

India and UK Seal Free Trade Agreement

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  Prime Minister Narendra Modi has officially announced the conclusion of a Free Trade Agreement (FTA) between India and the United Kingdom. This landmark deal aims to boost trade, investment, and economic cooperation between the two nations. After years of negotiations, the agreement is expected to reduce tariffs, open new market opportunities, and strengthen bilateral ties. Business leaders from both countries have welcomed the move, calling it a significant step toward deeper economic integration. The FTA marks a new era in India-UK relations.

The Indian Government May Lower Tariffs on US Medical Devices to Ease Trade Tensions

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  The Indian government is considering reducing tariffs on US medical devices in an effort to mitigate potential tariff threats from the United States on Indian exports. This move comes as both nations seek to balance trade relations and prevent escalating tensions. India currently imposes high import duties on medical devices such as stents and knee implants, which has been a point of contention for US manufacturers. Lowering these tariffs could improve market access for US companies while fostering goodwill in trade negotiations. At the same time, India is looking to protect key export sectors like steel, aluminum, and textiles, which face possible tariff hikes from the US. By easing restrictions on US medical devices, India aims to create a more favorable trade environment and strengthen economic ties between the two countries. This potential policy shift reflects India's strategic approach to global trade and its efforts to maintain a stable and mutually beneficial relations...

India, UAE Enter Into New Agreements Under Comprehensive Trade Deal

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  In a significant development, India and the UAE have expanded their strategic partnership through a series of new agreements, aiming to bolster their economic and diplomatic ties. The centerpiece of these agreements is the Comprehensive Economic Partnership Agreement (CEPA), which both nations signed recently. This landmark agreement is expected to elevate bilateral trade from the current $60 billion to $100 billion over the next five years. CEPA will play a pivotal role in enhancing trade relations by eliminating duties on over 90% of traded goods, thus facilitating smoother commerce between the two countries. On September 9th, 2024, Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan visited Rajghat in New Delhi, where he planted a sapling at the memorial site dedicated to Mahatma Gandhi. This gesture marks the third generation of UAE leaders to honor this tradition, following in the footsteps of his predecessors, UAE's President Sheikh Mohamed bin Zayed Al Nah...