free trade agreements

India and Canada are accelerating free trade agreement negotiations, aiming to boost bilateral trade to $50 billion by 2030. Both nations are committed to deepening economic ties, with a "Team Canada" business delegation set to visit India later this year to explore new opportunities.

In a strategic move, the US is pushing to wrap up a trade deal with India that seeks to expand market access and lower trade obstacles, aiming for a remarkable $500 billion in trade by 2030. This agreement is set to bolster supply chain resiliency and attract foreign investments.

Tripura is making strides in attracting global investment by initiating talks with the Russian embassy to forge new alliances. As part of this initiative, Russia has been invited to join as a partner country for the upcoming Destination Tripura Business Conclave 2026, with a keen focus on sectors such as tourism, IT, and agro-processing.

India faces pressure from the EU and US to adopt data exclusivity in trade deals, but a GTRI report warns this could harm its agrochemical industry. Such provisions would create extended monopolies, delay generic pesticide approvals, increase import reliance, and raise costs for farmers, potentially undermining a key export sector.

Prime Minister Narendra Modi arrived in the Netherlands for the second leg of his five-nation tour, aiming to deepen bilateral ties. He will hold talks with Dutch Prime Minister Rob Jetten, call on King Willem-Alexander and Queen Maxima, and address the Indian community.

India is pivoting towards Europe as traditional partnerships become unreliable. The burgeoning India-Italy relationship, spearheaded by Prime Ministers Modi and Meloni, is central to this strategy. This partnership is building crucial economic architecture, including the India-Middle East-Europe Economic Corridor and a potential EU Free Trade Agreement, positioning Europe as India's primary strategic focus.

Commerce Minister Piyush Goyal urged industry to identify import-dependent products for domestic manufacturing, aiming to boost local production and exports. He highlighted India's export growth to $863.11 billion and set a $1 trillion target for the current year, emphasizing quality, competitiveness, and scale. Goyal also stressed the importance of Swadeshi and value addition in agri-exports.

India has moved silver imports to a "restricted" category, requiring government approval, to prevent traders from exploiting a duty gap created by a recent 15% import tax hike. This move aims to curb arbitrage opportunities through the India-UAE free trade agreement, protect foreign exchange reserves, and control precious metal inflows, while exempting export-oriented industries.

Global powers are now vying for India's attention, recognizing its growing influence. While the US seeks to bolster trade, India has been actively forging significant trade agreements, positioning itself as a reliable and indispensable partner in a shifting geopolitical landscape.

US Secretary of State Marco Rubio's India visit highlights a deepening defence partnership, now a comprehensive strategic alliance in the Indo-Pacific. Discussions focused on sustained progress and regional security. India is a vital US partner, with cooperation in security, trade, and technology central to a free and open Indo-Pacific. Key agreements and joint exercises are enhancing interoperability and information sharing.

India and Cyprus elevated their relationship to a strategic partnership, aiming to boost bilateral investments in sectors like defense and tourism. This move strengthens Cyprus's defense capabilities and positions it as a key European entry point for the India-Middle East-Europe Economic Corridor, countering regional geopolitical challenges.