Business

India and EU to Conduct Next Round of Trade Negotiations on March 10

Published

11 months ago

March 10, 2025

India and the European Union are set to kick off the next phase of negotiations for a proposed free trade agreement (FTA) on Monday in Brussels, with the target of finalizing the discussions by the end of the year, according to a senior official.
Prime Minister Narendra Modi and European Commission President Ursula von der Leyen had previously agreed during their meeting in Delhi last month to expedite the FTA conclusion by year-end.

“A free trade agreement between the EU and India would represent the largest deal of its kind globally. I recognize it won’t be straightforward, but I believe that the right timing and determination are crucial, and this partnership is timely for both parties,” stated Von der Leyen during her visit to India.

Her remarks come amid proposed significant tariff increases by former US President Donald Trump, aiming to prioritize American interests and potentially disrupt global trade, thereby creating uncertainty in the worldwide economy.

PM Modi and President von der Leyen have tasked their respective negotiating teams with pursuing a balanced, ambitious, and mutually beneficial FTA. The teams are to collaborate as trusted partners to enhance market access and eliminate trade barriers. They are also instructed to further discussions on an Investment Protection Agreement and an Agreement on Geographical Indications.

However, reaching a consensus will be challenging, as both sides have considerable demands in diverse sectors including automobiles, whisky, pharmaceuticals, and textiles. The EU seeks lower tariffs from India on cars, wine, whisky, and certain agricultural products, while India is requesting increased market access and reduced tariffs for crucial exports such as pharmaceuticals, textiles, and apparel.

As the EU remains India’s largest trading partner, the trade in goods between them amounted to 124 billion euros in 2023, constituting 12.2% of India’s total trade. Meanwhile, trade in services between India and the EU approached 60 billion euros in 2023, nearly double that of 2020, with one-third of this being digital services, according to the World Economic Forum.

In comparison, the US and China comprised 10.8% and 10.5% of India’s total trade, respectively. India ranks as the EU’s ninth largest trading partner, accounting for 2.2% of the bloc’s trade, as reported by the WEF.

Trade between India and the EU has surged by approximately 90% over the last decade; however, discussions surrounding a free trade pact have stalled due to pronounced disagreements in sectors such as agriculture, automobiles, and pharmaceuticals.

Business

India May Buy More Oil From Venezuela Instead of Russia

Published

2 weeks ago

January 31, 2026

Namma Kudla

Business : The United States has told India that it can soon resume buying oil from Venezuela.The suggestion is part of a U.S. effort to reduce India’s dependence on Russian crude oil.

This pitch comes as India plans to cut Russian oil imports by several hundred thousand barrels per day in the coming months. Under the Trump administration, the United States had imposed a 25 % tariff on countries that bought Venezuelan oil, including India.

Now, the U.S. wants India to resume Venezuelan oil purchases to help diversify India’s energy sources. The United States is also trying to reshape energy ties with India as part of broader diplomatic engagement.

Venezuela’s interim president Delcy Rodríguez said she agreed with India on energy cooperation in a recent phone call with Prime Minister Narendra Modi. PM Modi said both sides agreed to deepen their partnership and expand cooperation in all areas.

Venezuela has the world’s largest proven oil reserves. Recently, Venezuela opened its oil sector to private investment to attract foreign capital and boost production.

India was one of the major buyers of Russian crude after the Ukraine war began in 2022. But India is now seeking alternative suppliers as part of its energy strategy.

Business

Chicken Prices Remain Stable in Local Markets

Published

2 weeks ago

January 27, 2026

Namma Kudla

Chicken prices remained stable in local markets today.Traders said there was no major change in rates.Consumers continued to make regular purchases.

Boneless chicken is priced at ₹210 per kilogram.Regular chicken is available at ₹160 per kilogram.Chicken liver is being sold at ₹120 per kilogram.

Country chicken is priced higher due to demand.It is selling at ₹360 per kilogram.Live chicken is available at ₹130 per kilogram.

Skinless chicken is priced at ₹200 per kilogram.Vendors said supply is sufficient in the market.They expect prices to remain steady in the coming days.

Customers expressed satisfaction with the current rates.Market officials said there is no shortage of chicken.

Business

Gold Prices Edge Up in India on January 19, 2026

Published

3 weeks ago

January 19, 2026

Namma Kudla

Gold prices in India recorded a slight increase on January 19, 2026, supported by global market trends, local demand, and movements in the rupee-dollar exchange rate.

As per market estimates, 24-carat gold, which is considered pure gold, is priced at ₹14,569 per gram, or ₹1,45,690 per 10 grams. 22-carat gold, commonly used for jewellery, is trading at around ₹13,355 per gram, or ₹1,33,550 per 10 grams.

The prices have risen marginally compared to the previous day. The increase is mainly linked to a weaker Indian rupee against the US dollar, which makes imported gold more expensive.

Gold rates vary slightly across cities such as Mangalore and other parts of the country. These differences depend on local taxes, transportation costs, jeweller margins, and regional demand.

Demand for gold remains strong due to the wedding season and festive buying, which continues to support higher prices. Investors also turn to gold during uncertain economic conditions, as it is seen as a safe-haven asset.

Experts say that global geopolitical developments, inflation concerns, and central bank policies are also influencing international gold prices, which in turn affect domestic rates.

Market participants expect gold prices to remain firm in the near term if the rupee stays weak and demand continues at current levels.