Indian textile losses due to the US tariffs are expected to be partly offset by export growth to the United Kingdom, supported by the India-UK free trade agreement (FTA), according to a report by Care Edge Ratings.
The loss incurred due to the imposition of reciprocal tariffs on Indian textile exports to the United States (US) may be offset by a surge in exports to the United Kingdom (UK), buoyed by the recently concluded India-UK Free Trade Agreement (FTA), said CareEdge Ratings in a report.
Commerce Minister Piyush Goyal on Friday said Qatar is ready to start trade pact negotiations with India, which was initially indicated during the State Visit of Amir of Qatar, Sheikh Tamim bin Hamad Al-Thani, in February this year.
Prime Minister Narendra Modi on Wednesday held a telephonic conversation with the President of Finland, Alexander Stubb, with both leaders exchanging views on the recent meeting in Washington involving European, US, and Ukrainian leaders aimed at resolving the Russia-Ukraine conflict.
Former Foreign Secretary and Rajya Sabha MP Harsh Vardhan Shringla remained hopeful that India will soon conclude a "satisfactory mutually beneficial" Free Trade Agreement (FTA) with the US as 50 per cent tariffs are set to kick in on Wednesday.
The 11th Round of India-Australia Comprehensive Economic Cooperation Agreement (Ind-Aus CECA) negotiations was held from August 18-23, further advancing the shared objective of strengthening bilateral trade and economic partnership.
The ToR was signed by Additional Secretary, Department of Commerce, Government of India, Ajay Bhadoo, and Deputy Director, Trade Policy Department, Eurasian Economic Commission (EEC), Mikhail Cherekaev, the commerce ministry said in the statement.
Industry leaders on Wednesday called for expanding India's Free Trade Agreements (FTAs) to secure preferential treatment in international markets, while stressing that sustainability and policy support will be critical for positioning India as a global manufacturing hub.
Right after shaking hands with UP CM on the agreement, British High Commissioner expressed confidence over the growing relations between UK and India, with the recently signed Free Trade Agreement (FTA) and Vision 35 helping open up many opportunities for businesses.
India has strengthened its trade ties over the past five years, signing five major Free Trade Agreements (FTAs) and progressing on several new deals, Minister of State for Commerce and Industry Jitin Prasada informed the Rajya Sabha in a written reply this week.
In a written reply in Rajya Sabha, Union Minister for Tourism and Culture Gajendra Singh Shekhawat stated that the number of foreign tourist arrivals stood at 99,51,722.
Indian textile exporters says that exports loss because of U.S the imposition of 25 per cent tariffs by U.S. President Donald Trump will be compensated by gains in exports due to free trade agreements (FTAs) which India's has signed with other nations.