India is also eyeing a trade pact with Africa’s oldest customs union - SACU - to expand market access and diversify export routes.
On special economic zones (SEZs), Union commerce and industry minister Piyush Goyal said inter-ministerial discussions are "going on very actively" to make the units in these zones competitive. Surplus capacity in SEZs can be used to reduce imports from countries such as China and ASEAN, he said.
Goyal highlighted opportunities for collaboration in critical minerals, clean and nuclear energy, emerging technologies, and supply-chain diversification, underscoring the strong complementarity between the two nations.
This follows similar steps taken in September, when the government restricted imports of certain silver jewellery until March 31, 2026
Sources say New Delhi is seeking relief from the EU’s proposal to double duties on steel to 50% and tighten steel import quotas, while weighing tariff concessions on high-end European cars under the FTA
The Centre is unlikely to issue any new QCOs while the review is underway, which also aims to ease the regulatory burden on MSMEs, who face higher costs and sourcing difficulties due to existing orders being heavily focused on raw materials.
The trade deal with EU could even happen by November, it is learnt, given that there is consensus on key issues such as automobiles, whisky and wine, on which the 27-nation bloc is seeking significant tariff reductions.
The trade deal is also awaiting a green signal from the Majlis al-Shura, or the lower house of the Council of Oman, which serves as a consultative and legislative body. Negotiations for the pact were concluded in August.
India’s upcoming carbon mechanism is expected to offset costs from the EU’s carbon tax, even as New Delhi continues to seek concessions beyond the FTA for smaller exporters.
To sustain rupee-based trade, India has asked Russia to ease exports to narrow the widening trade deficit
Currently, the preferential trade agreement (PTA) with the Mercosur trade bloc covers about 450 tariff lines. Talks are on to expand the PTA further to cover more items across agriculture, industrial goods, pharmaceuticals, and textiles, government officials told Moneycontrol.
Despite a thaw in diplomatic ties, the commerce ministry is prioritising ongoing FTA negotiations with several countries, making the resumption of FTA talks with Canada unlikely this year
India and the EU are focused on ironing out outstanding issues, particularly those related to market access, regulatory cooperation and agricultural sensitivities, the commerce ministry said on October 15.
From strengthening India-UK business relations to the anti- immigrant protests in London, Deputy Mayor ( Business) Howard Dawber discusses the future of India-UK relations
Speaking to business delegates in Mumbai, British PM Keir Starmer said he wants the India-UK free trade agreement (FTA) implemented “as soon as humanly possible."
The commerce minister also stated that a trade deal with Qatar could be finalised by mid next year or the third quarter of 2026
India is exploring an FTA with Qatar to secure alternative export markets and cushion its exporters from rising tariff pressures in the US.
While the EU is seeking greater market access in automobiles and agriculture products, India wants relaxations in the carbon tax on imports of steel, aluminium, cement and fertiliser which kicks in from January
India’s trade pact with Switzerland, Iceland, Norway and Liechtenstein will make Swiss chocolates, watches and apparels cheaper in the country. At the same time, Indian exporters hit by Trump tariffs get a new lease of life as a range of products including tea, coffee, textiles, marine products, leather, gems, and engineering goods get better market access in these four countries.
The thirteenth round of EU-India free trade agreement (FTA) negotiations took place in New Delhi during September 8-12, with two additional days of technical sessions on Rules of Origin held on September 13-14.
Faced with steeper US tariffs, the India-Oman FTA and additional deals with GCC nations could play a key role in diversifying Indian exports by reducing dependence on traditional buyers.
Oman is India’s third-largest export destination within the GCC. India already has a trade deal with another GCC member - the United Arab Emirates (UAE).
This follows the third round of talks, held from September 15 to 19 in Queenstown, New Zealand, after which several chapters were concluded and significant progress was achieved in other key domains.
Even as India and the EU aim to close talks for the trade deal by the end of the year, the bloc’s multi-stage ratification process means it would be some time before the agreement comes into effect
The EU, on the other hand, is seeking concessions for flagship exports such as wine and automobiles through the free trade agreement with India.