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Business Standard
a day ago
- Business
- Business Standard
India must protect farmers, digital ecosystem in trade pact with US: GTRI
Any trade agreement with the US must not be politically driven or one-sided and India should protect its farmers, digital ecosystem, and policy space, economic think tank GTRI said on Friday. With India's chief trade negotiator in Washington DC and the clock ticking, the next few days could determine whether India and the US settle for a limited mini-deal or walk away from the negotiating table - at least for now, the Global Trade Research Initiative (GTRI) said. The two sides are looking at finalising an interim trade pact before July 9, as it marks the end of US President Donald Trump's 90-day suspension of the country-specific tariffs, originally announced on April 2. "The more likely outcome is a limited trade pact - styled after the US-UK mini trade deal announced on May 8," GTRI Founder Ajay Srivastava said, adding, "any trade deal with the US must not be politically driven or one-sided, it must protect our farmers, our digital ecosystem, and our sovereign regulatory space." Under a mini or interim deal, according to the think tank, India is expected to cut tariffs on a wide range of industrial goods, including automobiles, a persistent demand from Washington. In agriculture, India may offer limited market access through tariff reductions and tariff-rate quotas (TRQs) on select US products such as ethanol, almonds, walnuts, apples, raisins, avocados, olive oil, spirits, and wine, it added. Beyond tariffs, the US is expected to press India for large-scale commercial purchases, including oil and LNG, civilian and military aircraft from Boeing, helicopters, and nuclear reactors, it said. "There may also be pressure on India to ease FDI restrictions in multi-brand retail, potentially benefiting firms like Amazon and Walmart and to liberalise rules on remanufactured goods, currently subject to stringent import norms," Srivastava said. Agricultural goods account for less than 5 per cent of US exports to India. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
a day ago
- Business
- Time of India
India must protect its farmers, digital ecosystem, policy space in trade pact with US: GTRI
Any trade agreement with the US must not be politically driven or one-sided and India should protect its farmers, digital ecosystem, and policy space, economic think tank GTRI said on Friday. With India's chief trade negotiator in Washington DC and the clock ticking, the next few days could determine whether India and the US settle for a limited mini-deal or walk away from the negotiating table - at least for now, the Global Trade Research Initiative (GTRI) said. The two sides are looking at finalising an interim trade pact before July 9, as it marks the end of US President Donald Trump's 90-day suspension of the country-specific tariffs, originally announced on April 2. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Cara Membantu Orang Terkasih Menghadapi Limfoma Limfoma Pelajari Undo "The more likely outcome is a limited trade pact - styled after the US-UK mini trade deal announced on May 8," GTRI Founder Ajay Srivastava said, adding, "any trade deal with the US must not be politically driven or one-sided, it must protect our farmers, our digital ecosystem, and our sovereign regulatory space." Under a mini or interim deal, according to the think tank, India is expected to cut tariffs on a wide range of industrial goods, including automobiles, a persistent demand from Washington. Live Events In agriculture, India may offer limited market access through tariff reductions and tariff-rate quotas (TRQs) on select US products such as ethanol, almonds, walnuts, apples, raisins, avocados, olive oil, spirits, and wine, it added. Beyond tariffs, the US is expected to press India for large-scale commercial purchases, including oil and LNG, civilian and military aircraft from Boeing, helicopters, and nuclear reactors, it said. "There may also be pressure on India to ease FDI restrictions in multi-brand retail, potentially benefiting firms like Amazon and Walmart and to liberalise rules on remanufactured goods, currently subject to stringent import norms," Srivastava said. Agricultural goods account for less than 5 per cent of US exports to India. PTI
Mint
a day ago
- Business
- Mint
India must protect its farmers, digital ecosystem, policy space in trade pact with US: GTRI
New Delhi, Jun 27 (PTI) Any trade agreement with the US must not be politically driven or one-sided and India should protect its farmers, digital ecosystem, and policy space, economic think tank GTRI said on Friday. With India's chief trade negotiator in Washington DC and the clock ticking, the next few days could determine whether India and the US settle for a limited mini-deal or walk away from the negotiating table - at least for now, the Global Trade Research Initiative (GTRI) said. The two sides are looking at finalising an interim trade pact before July 9, as it marks the end of US President Donald Trump's 90-day suspension of the country-specific tariffs, originally announced on April 2. "The more likely outcome is a limited trade pact - styled after the US-UK mini trade deal announced on May 8," GTRI Founder Ajay Srivastava said, adding, "any trade deal with the US must not be politically driven or one-sided, it must protect our farmers, our digital ecosystem, and our sovereign regulatory space." Under a mini or interim deal, according to the think tank, India is expected to cut tariffs on a wide range of industrial goods, including automobiles, a persistent demand from Washington. In agriculture, India may offer limited market access through tariff reductions and tariff-rate quotas (TRQs) on select US products such as ethanol, almonds, walnuts, apples, raisins, avocados, olive oil, spirits, and wine, it added. Beyond tariffs, the US is expected to press India for large-scale commercial purchases, including oil and LNG, civilian and military aircraft from Boeing, helicopters, and nuclear reactors, it said. "There may also be pressure on India to ease FDI restrictions in multi-brand retail, potentially benefiting firms like Amazon and Walmart and to liberalise rules on remanufactured goods, currently subject to stringent import norms," Srivastava said. Agricultural goods account for less than 5 per cent of US exports to India.
News18
3 days ago
- Automotive
- News18
Delhi: Old Vehicle Ban To Rev Up Rs 4.5 Lakh Crore Windfall, But At What Cost?
The ban could lead to the replacement of 1.8 million old cars in the National Capital Region (NCR), including Noida, Gurugram and Ghaziabad. Delhi's fuel ban on diesel vehicles older than 10 years and petrol vehicles older than 15 years from July 1st, 2025, is likely to deliver Rs 4.5 Lakh Crore of gain to auto companies, auto importers, and government tax collections, according to a recent report by the Global Trade Research Initiative (GTRI). 'If 1.8 million old vehicles are replaced by new cars with an average price of Rs 15 lakhs each, the total turnover for the auto industry would amount to Rs 2.7 lakh crore," GTRI said. The report further adds that, with this replacement of old vehicles with the new ones, the central government will be able to collect approximately Rs 1,35,000 crore from GST and compensation cess, while the Delhi government would gain around Rs 42,187 crore from road tax and diesel surcharges. GTRI also outlines that, 'Real values will be at least 50 per cent higher as this data ignores the revenue to be collected on account of the replacement of 4.4 million two-wheelers." On the flip side, this rule of diesel vehicles older than 10 years and petrol vehicles older than 15 years will no longer be allowed to refuel at any petrol pump across the capital, will impose harsh costs on small businesses, informal sector workers, and middle-class families who still rely on older vehicles for mobility and livelihoods. Under this rule, Automated number-plate recognition (ANPR) cameras installed at fuel stations will enforce the rule by linking to the VAHAN database. Overall, this ban will affect an estimated 1.8 million four-wheelers and 4.4 million two-wheelers in the National Capital Region (NCR), which extends beyond Delhi into key urban centres like Noida, Gurugram and Ghaziabad. The GTRI report suggests that India should modernise its vehicle fleet without crushing the poor. It must adopt the best practices of Europe and the U.S. — build rigorous, transparent emission-testing systems and phase in green zones rather than impose a blanket age cut-off. In most major countries, there is generally no outright ban on older vehicles based purely on age. Instead, governments use a mix of stricter emissions standards, roadworthiness checks, and economic disincentives to phase out old, high-polluting vehicles. First Published:
Time of India
4 days ago
- Business
- Time of India
Iran-Israel ceasefire to stabilise global trade, aid India's exports to Middle East: Experts
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The ceasefire between Iran and Israel has offered major relief to India, which has over USD 100 billion worth of trade with the Middle East countries and is heavily dependent on energy imports from the Gulf region, experts said that reduced geopolitical tension lowers the risk premium, stabilises freight costs, and enhances predictability in shipping routes for Indian goods via the Strait of Hormuz , a narrow but key passage between Iran and think tank Global Trade Research Initiative (GTRI) said that for India, with over USD 100 billion in the Middle East trade and heavy reliance on Gulf energy imports, the de-escalation offers relief."A sustained ceasefire would stabilise energy prices and safeguard vital shipping routes. But any flare-up would again threaten India's trade flows, energy security , and diaspora interests," GTRI Founder Ajay Srivastava added that oil prices fell more than 3 per cent, and volatility in the strait, through which a fifth of global oil passes, briefly he said, this ceasefire may prove temporary, as the underlying issues between the US, Israel, and Iran remain of Indian Export Organisations ( FIEO ) Director General Ajay Sahai said the ceasefire brings welcome relief to global trade and supply chains , particularly across the Middle East, a key conduit for energy and cargo movement."This development is particularly beneficial for Indian exporters of engineering goods, food products, textiles, and chemicals to West Asia, and for importers reliant on crude oil and petrochemicals," Sahai sustained peace and diplomatic follow-through remain essential to realise long-term gains for trade and investment flows, he added.
