Commerce and Industry Minister Piyush Goyal will on March 13, 2025, hold discussions with export promotion councils on trade issues amid the threat of imposition of reciprocal tariffs by the US, an industry official said. In the meeting, exporters are expected to raise issues pertaining to the proposed bilateral trade agreement between India and the US, the official added. The meeting assumes significance as the minister has recently returned from Washington after holding trade talks with his US counterparts. An industry official said the exporting community is concerned about the threat of the US to impose reciprocal tariffs as it could impact India's exports to America, which is its largest trading partner. However, they added that if the US would give duty concessions under the proposed trade agreement to India, sectors like textiles, handicrafts, leather, and gems and jewellery would get a boost.
Source: The Economic Times
India is preparing for a potential bilateral trade agreement with the US, aiming to complete the first phase of negotiations by fall. The commerce ministry is gathering industry wish lists for tariff concessions from Washington. The discussions include reducing tariffs on items such as American nuts and seeking a zero-duty structure for textile trade to boost exports.
Source: The Economic Times
US President Donald Trump’s stance on tariff reciprocity presents a serious economic challenge not only for India but also for the entire world. However, the Indian textile industry sees this as a golden opportunity to strengthen its position in the US textile and apparel market. The Confederation of Indian Textile Industry (CITI) has strongly recommended a Zero-for-Zero trade agreement for textiles and apparel with the US. Currently, there is little disparity in tariff rates on these products between the two countries.
CITI suggested that India has a unique opportunity to expand its footprint in the US market, particularly in light of recent US policy shifts that have increased tariffs on key competitors such as China, Mexico, and Canada. To capitalise on this momentum, India should explore a Zero-for-Zero trade agreement with the US for textiles and apparel (T&A), with necessary safeguards for sensitive products.
Source: Fibre2fashion
As the five-day India-EU trade talks start on March 10, 2025, Indian industries like technology, pharmaceuticals, and textiles and services exports, including telecommunications, business services, and transport, stand to gain from a well-structured FTA. The EU is seeking lower duty for automobiles, wines, access to the government procurement market and opening up of the services market.
Key sticking points in the talks include agricultural tariffs, especially on dairy, wine import duties, automobile tariffs, and regulatory barriers affecting labour-intensive goods. India is reluctant to lower auto import duties and is cautious about committing to EU demands on sustainability and labour standards. While the EU seeks tariff elimination on over 95 per cent of its exports, India may be willing to open not more than 90 per cent of its market.
Source: Deccan Chronicle
The objective is to foster greater resilience within the garment industry and enhance the economic wellbeing of its workforce while amplifying the adoption and advantages of responsible wage digitalisation. RISE launched the #WhenWomenRISE campaign to coincide with International Women’s Day and to demonstrate how partnership not only fosters individual achievement but also drives sustainable business practices and societal progress. According to RISE, female workers predominantly populate the global garment supply chains and often face hurdles such as restricted access to digital banking and a lack of financial management skills. These barriers can hinder their ability to achieve economic security.
Source: Just style
Mauritius is pressing for amendments to its trade agreement, including Double Taxation Avoidance Convention (DTAC) with India, Foreign and Trade Minister Dhananjay Ramful said. In an interview with PTI Videos at his office in Port Louis, he underscored the need to revisit the Comprehensive Economic Cooperation and Partnership Agreement (CECPA) to restore Mauritius' position as a preferred investment conduit, as foreign direct investment (FDI) inflows from the island nation to India have declined sharply since the treaty's revision in 2016.
Source: The Economic Times
