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India Gazette
15 hours ago
- Business
- India Gazette
India strengthens agricultural position as critical US trade negotiations continue
By Shailesh Yadav New Delhi [India], June 30 (ANI): India has adopted a firmer stance on agricultural matters as high-stakes trade negotiations with the United States reach a pivotal moment, government sources said on Monday. The Indian delegation, led by Chief Negotiator Rajesh Agrawal, has extended its stay in Washington, as reported by ANI earlier. The two negotiations were scheduled on Thursday and Friday, but have been extended as both nations work urgently to finalise an interim trade agreement before a crucial July 9 deadline. The extended negotiations come as both countries face the looming return of suspended 26% reciprocal tariffs. These punitive measures, imposed initially during the Trump administration on April 2, were temporarily suspended for 90 days but will automatically resume if no agreement is reached. 'The failure of these trade discussions would trigger the immediate reimplementation of the 26% tariff structure,' warned a senior official. India's hardened position reflects the politically sensitive nature of its agricultural sector. The country's farming landscape is dominated by small-scale subsistence farmers with limited land holdings, making agricultural concessions particularly challenging from both economic and political perspectives. Notably, India has never opened its dairy sector to foreign competition in any previous free trade agreement -- a precedent it appears reluctant to break even under US pressure. The United States is pushing for reduced duties on agricultural products, including apples, tree nuts, and genetically modified crops. Meanwhile, India seeks preferential access for its labour-intensive exports, such as textiles and garments, Gems and jewellery, Leather goods, and agricultural products like shrimp, oilseeds, grapes, and bananas. Beyond the immediate interim agreement, both nations are working toward a comprehensive bilateral trade agreement (BTA) with the first phase targeted for completion by fall 2024. The ultimate goal is ambitious: more than doubling bilateral trade from the current $191 billion to $500 billion by 2030. (ANI)
India Gazette
23-06-2025
- Business
- India Gazette
Indian industry expresses anguish over slow pace of ASEAN FTA renegotiation
By Shailesh Yadav New Delhi [India], June 24 (ANI): Indian industry is growing increasingly frustrated with the extremely slow progress in renegotiating the ASEAN Free Trade Agreement. Government sources reveal that nine rounds of talks since November 2019 have failed to address fundamental concerns about the lopsided nature of the original deal. Government sources said the sluggish pace of negotiations, originally scheduled to conclude by 2025, has amplified industry anguish over what many consider an unfavourable trade arrangement that has significantly disadvantaged Indian manufacturers and exporters. 'We are reflecting the anguish of Indian industry as the industry is suffering,' a senior government source said. 'The progress in FTA negotiations has been very slow, and this is causing serious concern across various sectors.' The renegotiation efforts have revealed several structural problems with the original ASEAN FTA that have created lasting disadvantages for Indian industry. Most notably, India opened 71 per cent of its tariff lines under the agreement, while key ASEAN partners offered far less reciprocal access--Indonesia opened only 41 per cent, Vietnam 66.5 per cent, and Thailand 67 per cent. The prolonged renegotiation process has left Indian industry in a state of uncertainty, with many sectors continuing to face unfair competition while waiting for more balanced terms. The government's acknowledgement of industry anguish signals a commitment to addressing these long-standing grievances, but the slow pace of talks with ASEAN partners suggests that relief may still be some time away. This asymmetry has raised questions about the original negotiation strategy, particularly given that India had a lower per capita income compared to several ASEAN nations when the deal was signed. The consequences of these imbalances have become starkly apparent over the 15-year lifespan of the agreement. While India's exports to ASEAN doubled during this period, the trade deficit has ballooned by a staggering $86 billion as imports from the ASEAN bloc tripled, creating an unsustainable trade relationship. India is now seeking fairer terms in the renegotiation, citing the rising trade deficit, limited export gains, and uneven tariff cuts that have consistently favoured ASEAN partners over Indian exporters. A major area of concern has been the routing of Chinese goods through ASEAN countries, which has undermined the intended benefits of the FTA for Indian industry. Government sources indicated that concerns are mounting over this practice, along with non-tariff barriers that continue to impede Indian exports to ASEAN markets. The government has been forced to take corrective measures, including imposing anti-dumping duties for the first time and implementing safeguard duties on 12 per cent of relevant imports to protect the domestic industry from unfair competition. The steel sector has been particularly affected, with subsidised goods from third countries being dumped in the Indian market until anti-dumping measures were implemented. The government has also cracked down on steel import dumping through safeguard duties, highlighting that the original FTA lacked crucial provisions like a 'melt-and-pour' clause that could have prevented such practices. (ANI)
India Gazette
17-06-2025
- Automotive
- India Gazette
Maruti's Manesar railway siding to cut 65,000 truck trips annually
By Shailesh Yadav Manesar (Haryana) [India], June 17 (ANI): Maruti Suzuki's new railway siding at its Manesar plant will eliminate approximately 65,000 truck trips annually, translating to 232 fewer truck journeys per day based on 280 working days, Senior Executive Director, Corporate Affairs, Rahul Bharti announced on Tuesday. Speaking to ANI at the Manesar facility, Bharti highlighted that the railway terminal will dispatch seven popular models including Celerio, WagonR, SPresso, Dzire, Brezza, Ertiga and XL6, while export vehicles will be transported to Pipavav and Mundra ports through the new facility. The Manesar railway siding represents India's largest automobile GatiShakti Multi-Modal Cargo Terminal, capable of dispatching 450,000 vehicles annually at full capacity. Spread across 46 acres within the Manesar facility, the terminal features a fully electrified 8.2-kilometer corridor with four full-length tracks plus one engine escape track, a two-floor station building, and comprehensive support infrastructure. The project, executed through a joint venture with Haryana Orbital Rail Corporation Ltd (HORCL) at a total cost of Rs 1,170.91 crore, marks the company's second such facility following the Gujarat plant's inaugural railway siding. Maruti Suzuki's green logistics transformation has been remarkable since FY 2014-15, with railway dispatches growing nearly eight-fold from 5 per cent to 24.3 per cent of total vehicle dispatches in FY 2024-25. The company dispatched a record 5.18 lakh vehicles through railways last fiscal year, contributing to a cumulative 25 lakh vehicles transported via rail since the initiative began. Currently operating over 40 flexi-deck rakes with 300-vehicle capacity each, the automaker serves more than 600 cities across India through 21 distribution hubs. The environmental impact of this logistics strategy is substantial, with the Manesar facility alone expected to avoid 175,000 tonnes of CO2 equivalent emissions and save 60 million litres of fuel annually at full capacity. As Maruti Suzuki prepares to scale production to 4 million units by FY 2030-31, the company plans to increase railway usage to approximately 35 per cent of total dispatches over the next five to six years, reinforcing its commitment to sustainable transportation and reduced carbon footprint in the automotive sector. (ANI)
India Gazette
11-06-2025
- Business
- India Gazette
India-EU FTA must address tariff, non-tariff barriers: Swedish Minister
By Shailesh Yadav Stockholm [Sweden], June 12 (ANI): A comprehensive free trade agreement between India and the European Union should tackle both tariff and non-tariff barriers to maximise benefits for both regions, Swedish Minister for International Development Cooperation and Foreign Trade Benjamin Dousa said Wednesday. Speaking to business leaders from India and Sweden, Dousa emphasised that both the EU and India are 'just a bit over-regulated' and would benefit significantly from reducing regulatory barriers alongside traditional tariffs. 'The best outcome for both the EU and India will be an FTA that goes beyond tariffs to include non-tariff barriers,' Dousa said. 'Both regions are somewhat over-regulated at present, and addressing this will enable smoother cross-border trade.'The minister highlighted the strong existing partnership between Sweden and India, noting that 75 Indian companies operate in Sweden, employing approximately 7,000 people. Major Swedish companies, including ABB, IKEA, and Ericsson, have made substantial investments in India over many years. 'Our countries are very well positioned to grow together,' Dousa said. 'We have been close partners for a very long time, and Swedish companies have invested heavily in India.' The FTA negotiations between the two sides are expected to conclude in 2025. India last month said the two sides engaged in a forward-looking and substantive dialogue to address global trade challenges and reaffirm their shared resolve to conclude the India-European Union Free Trade Agreement (FTA) by the end of 2025. Dousa expressed confidence that India could become a trusted global manufacturing hub by continuing to attract foreign direct investment. He noted that Sweden is well-positioned to help India increase manufacturing's share of its GDP, particularly as India has set ambitious goals to grow its manufacturing sector. The minister pointed to India's status as the world's fastest-growing economy and emphasized the country's increasingly prominent role on the global stage. He also highlighted cooperation between the two nations in space technology and noted that Indian investment in Sweden continues to grow. According to Dousa, a comprehensive trade agreement would not only increase ease of doing business but also create opportunities for building more robust supply chains between the regions. The proposed FTA represents a significant opportunity for both India and the EU to reduce regulatory barriers that currently impede trade flows, while strengthening economic ties that could benefit both regions' long-term growth prospects. Speaking on behalf of Swedish industry, Jacob Wallenberg, Chairman of the Confederation of Swedish Enterprise, issued a clear call to action: 'Swedish industry captains call for urgent India-EU FTA [and] urge political leaders of India and EU to conclude FTA at the earliest.' (ANI)
India Gazette
09-06-2025
- Business
- India Gazette
Elon Musk owned Starlink set to launch services in India within two months
By Shailesh Yadav New Delhi [India], June 9 (ANI): Elon Musk's satellite internet service Starlink is preparing to commence operations in India within the next two months after receiving its license last week, sources said. The company has finalised its pricing structure for the Indian market, setting the cost of the required satellite dish device at approximately Rs 33,000. The monthly unlimited data plan is expected to be priced at Rs 3,000. As part of its launch strategy, Starlink plans to offer a complimentary one-month trial period with each device purchase, allowing customers to test the service before committing to regular monthly payments. The satellite internet service is expected to significantly impact connectivity in India's remote and underserved areas, where traditional broadband infrastructure has been challenging to establish. Starlink's low Earth orbit satellite constellation promises to deliver high-speed internet access to locations previously unreachable by conventional terrestrial networks. The pricing structure appears consistent with Starlink's regional strategy, as the device costs align with those in neighbouring countries. In Bangladesh, the Starlink device is priced at Rs 33,000, while Bhutan maintains the same Rs 33,000 price point for the equipment. Industry experts suggest that Starlink's entry into the Indian market could intensify competition in the country's telecommunications sector and provide crucial connectivity solutions for rural areas, educational institutions, and businesses in remote locations. The company's imminent launch comes as India continues to push for digital inclusion and improved internet connectivity across its vast geographical expanse, particularly in areas where traditional internet service providers have struggled to establish reliable networks. (ANI)
