PM Narendra Modi transferred Rs 2,400 crore to beneficiaries under the Prime Minister Viksit Bharat Rozgar Yojana (PM-VBRY), aiming to create 15 lakh employment opportunities. He highlighted the role of trade agreements in opening new markets and emphasized quality in products and services for international competitiveness.
The Indian Rupee gained 20 paise against the US dollar in early trade on Friday, reaching 94.20. Optimism surrounding an India-US trade agreement, coupled with improved foreign inflows and lower crude oil prices, fueled the recovery from its previous all-time closing low.
India and the US are in the final stages of concluding an interim free trade agreement, with US trade representative Jameson Greer set to visit India next week. This follows a meeting between PM Modi and US President Trump. India also expects a US-Iran peace agreement to bring regional stability.
India and the UK will implement their Comprehensive Economic and Trade Agreement (CETA) from July 15, aiming to expand market access, reduce tariffs, and deepen cooperation. The pact is expected to open a market worth over $500 billion for Indian exporters and includes provisions for the automotive and spirits sectors.
The Indian Rupee opened lower against the US dollar, falling over 20 paise to 94.71 due to the Federal Reserve's hawkish policy stance and a stronger global dollar. Despite this, market sentiment was boosted by a potential US-Iran agreement and ongoing trade talks between India and the US.
The India-UK Free Trade Agreement, effective July 15, is welcomed by alcoholic beverage makers for boosting trade and premiumization. While imported spirits may see reduced concessions in some Indian states, the pact aims to make premium international brands more accessible to Indian consumers.
India and the UK will implement their free trade agreement on July 15, enabling tariff reductions and enhanced economic cooperation. The pact, signed last year, is expected to boost bilateral trade by £25.5 billion annually and includes significant tariff cuts on products like whisky, automobiles, and cosmetics.
US President Donald Trump stated that a trade agreement with India is "very close to the deal." USTR chief Jamieson Greer will visit India next week for final talks with Commerce Minister Piyush Goyal. Most issues are reportedly settled, with an interim agreement expected before July 24.
India and the European Union are poised to sign a significant free trade agreement by the end of the year, following discussions between Prime Minister Narendra Modi and EU leaders. The pact also includes enhanced security and defense cooperation and aims to advance the India-Middle East-Europe Corridor for improved connectivity.
India's Commerce Minister Piyush Goyal stated that while countries globally are increasingly protecting domestic industries, India is addressing trade challenges through dialogue and partnerships. He noted the WTO's current ineffectiveness but affirmed trade operates under its framework, with India pursuing FTAs and investment.
US President Donald Trump stated the US might not renew its free trade agreement with Canada and Mexico, citing trade deficits. The pact requires renewal by July 1 or a 10-year exit process.
US President Donald Trump stated he may not extend the USMCA trade agreement with Canada and Mexico, citing his right to terminate it and suggesting the US does not need what the other countries have, while they need US goods.
The EU and South Korea signed a new digital trade agreement at their 11th summit in Brussels. The deal aims to reduce digital trade barriers and enhance legal certainty, complementing a decade-old free trade agreement. Discussions also covered economic security, supply chain resilience, and security cooperation, with a focus on semiconductors and condemnation of North Korea's actions.
South Korea and the EU signed a Digital Trade Agreement (DTA) to expand e-commerce cooperation. The DTA replaces and significantly expands the e-commerce provisions of the 2011 FTA, increasing them from 2 articles to 40, covering areas like consumer protection and cybersecurity.
The Eurasian Economic Union (EAEU) is exploring free trade agreements with Tunisia, Pakistan, and several African nations, with negotiations with India at an advanced stage.
Tech companies like Meta, Google, and TikTok cite the US-Australia free trade agreement and threaten retaliation to oppose Australia's proposal forcing them to pay news outlets for content, arguing it's discriminatory and violates trade rules.
India and the US held four days of trade negotiations in New Delhi, focusing on goods trade, customs, and economic security to advance a pivotal trade agreement and enhance bilateral trade.
Meta has criticized Australia's proposed News Bargaining Incentive (NBI), calling it "poorly designed" and "grossly unfair." The tech giant argues the plan, which would levy digital platforms to fund media outlets, insulates publishers from necessary innovation and violates trade agreements.
US Ambassador Sergio Gor stated that India and the US are 99% close to a trade agreement, with final technicalities being resolved. He expressed optimism about the deal being a win-win and highlighted the strong relationship between Presidents Trump and Modi.
Canada and Mexico are pushing for a 16-year renewal of the North American free trade agreement (USMCA) with the United States. This move aims to secure the pact amid US President Donald Trump's skepticism. The agreement is crucial for both nations, with the US being their primary trading partner.
India and the US have finalized the legal text for the first part of a bilateral trade agreement, with negotiations now focused on minor details. The deal's finalization hinges on clarity regarding the US tariff mechanism post-June, as India seeks to retain tariff advantages for its exports.
India and the US have finalized the legal text for the first part of a bilateral trade agreement, with negotiations now focused on minor details. The deal's finalization hinges on clarity regarding the US tariff mechanism post-June, as India seeks to maintain export advantages.
Russia has completed the ratification of the free trade agreement between the Eurasian Economic Union (EAEU) and Indonesia. Signed in December 2025, the agreement aims to establish preferential trade for about 90% of goods and foster cooperation in various sectors.
The GCC and the UK have concluded free trade agreement negotiations, marking a new era of strategic cooperation. This landmark deal, the first of its kind between the GCC and a G7 nation, aims to boost investment flows and trade by over 60%, fostering economic stability amidst global uncertainty.
