ministry of trade

China signals willingness to accept existing US tariff levels while seeking to extend the current trade truce. Beijing hopes Washington will honor previous understandings, aiming to stabilize economic ties. Discussions are expected to focus on extending the one-year agreement and reducing unilateral tariffs.

Taiwan's defense ministry reported Chinese military activity, with four aircraft and six naval vessels detected around the island. Three aircraft crossed the Taiwan Strait median line. This follows a day of heightened activity, with 16 aircraft and eight vessels observed, 13 of which crossed the median line. These incursions underscore rising regional tensions.

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.

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.

External Affairs Minister S. Jaishankar met with US Secretary of State Marco Rubio in New Delhi to review the India-US Comprehensive Global Strategic Partnership. Discussions covered trade, energy, defense, AI, and counter-terrorism, with both sides emphasizing their 'strategic ally' status and shared interests. India highlighted its strategy to diversify energy sources for security amid global uncertainties.

Commerce and Industry Minister Piyush Goyal urged India and African nations to align standards, customs, and business practices to boost bilateral trade. He highlighted the combined economic potential of the African Continental Free Trade Area and India's economy, emphasizing collaboration in integrated value chains and manufacturing, particularly in renewable energy and digitalization.

Bihar Chief Minister Samrat Choudhary has urged the Union government to expedite Patna airport's runway expansion, pledging state support. Aiming to boost air connectivity tenfold in five years, the government is developing a district-wise roadmap for airport modernization, enhanced security, and inclusive infrastructure.

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.

Prime Minister Modi's five-nation tour secured nearly $40 billion in investment, with over 50 global firms pledging fresh capital and expansion. Key sectors like semiconductors, defence, and energy saw significant commitments. India elevated ties with the UAE, Netherlands, Sweden, and Italy, fostering strategic partnerships and boosting economic cooperation.

Adopt Alternative Dispute Resolution Declaration To Ease Court Burden

Prime Minister Narendra Modi commenced a five-nation tour in the UAE, receiving a ceremonial escort and holding high-level talks with President Mohamed bin Zayed Al Nahyan. The visit aims to bolster India's partnerships in trade, technology, and clean energy with the UAE and European nations, with significant opportunities anticipated for Indian exporters.