Mother of all deals has already drawn global attention, the Prime Minister noted, as the India-EU FTA represents nearly 25 per cent of global GDP and about one-third of global trade. According to him, the scale of the agreement reflects the rising economic strength and global relevance of both India and the European Union.

PM Modi said the deal reinforces shared democratic values such as democracy and the rule of law. He added that the agreement will complement India’s trade arrangements with Britain and EFTA, strengthening India’s global trade network.

Congratulating industry stakeholders, the Prime Minister said the FTA would significantly benefit manufacturing as well as the services sector. He also stressed that the agreement would boost global confidence in India as an investment destination.

Focusing on energy, PM Modi highlighted major investment opportunities across the energy value chain, including oil, gas, and deep-sea exploration under the Samudra Manthan Mission. Negotiations for the India-EU FTA began in 2007 and resumed in 2022, finally culminating in a landmark deal aimed at boosting trade, investment, and shared prosperity.

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Washington is planning to impose a $500 tariff on selected Indian imports. The US government says the move addresses trade imbalances. Observers note that the US is taking a tougher approach with India compared to China.

Trade Concerns and Sectors Affected

US officials argue that India’s export policies have given its products an unfair advantage in several sectors, including technology, agriculture, and industrial goods. The tariff could raise costs for US importers who rely on Indian products and affect exporters across multiple states.

India Seeks Dialogue

India’s commerce ministry has already contacted US officials to clarify the situation. Diplomats are encouraging dialogue, highlighting that India complies with international trade rules. Officials hope bilateral discussions will resolve concerns before the tariff takes effect.

Why India Faces Stricter Scrutiny

Analysts note that the US approach differs from its treatment of China. While China also faces trade restrictions, the US is currently applying stricter rules to Indian exports. Experts say this could influence India’s export strategy and prompt businesses to diversify markets.

Impact on Indian Businesses

Companies are closely watching the developments. Experts recommend exporters prepare contingency plans to minimize disruptions. The tariff could affect pricing, supply chains, and export volumes if implemented.

Outlook for India-US Trade

Despite the tougher stance, officials believe continued dialogue can prevent long-term damage. Both countries plan to engage in discussions in the coming weeks to maintain strong economic ties while addressing trade concerns.

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Japan’s Ambassador Ono Kicchi surprised everyone by starting his speech entirely in Telugu. He addressed the audience at the CII partnership summit, emphasizing the growing trade relations between Japan and Andhra Pradesh. His confident Telugu impressed both Indian and foreign attendees.

During his speech, the ambassador expressed gratitude for the invitation and mentioned, “I feel honored to speak at this event. I am happy to witness increased cooperation between Japanese and Indian companies.” He also shared his admiration for Telugu on Twitter, marking it as his first public speech in the language.

The ambassador further highlighted ongoing collaborations in steel, pharma, renewable energy, and infrastructure. He noted that this summit would strengthen Japan-Andhra Pradesh trade ties and enhance bilateral cooperation in multiple sectors. Both governments hope to continue promoting business opportunities through such partnerships.

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The Ministry of External Affairs (MEA) stated that India has aimed to diversify energy procurement for many years, prioritising stable prices and secure supplies. The current US administration has shown interest in strengthening these energy ties.

Despite previous US tariff hikes, India’s exports to the US rose to $45.82 billion in the first half of the current financial year, a 13.3% increase from last year. The government sees potential to import $12–13 billion worth of crude oil and natural gas from the US without changing refinery configurations.

India is also likely to source more renewable energy technologies from the US as part of the trade discussions. Chief Negotiator Rajesh Agrawal is already in the US, working with the negotiating team to finalise bilateral commitments and boost climate-friendly energy cooperation.

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Alckmin arrived in India on Wednesday for a two-day visit with a delegation of ministers, officials, and business leaders. On arrival, he met Defence Minister Rajnath Singh, accompanied by Brazilian Defence Minister Jose Mucio Monteiro Filho. Both sides reviewed defence cooperation and discussed opportunities for joint exercises, training, and co-development of defence equipment.

Alckmin is also scheduled to meet Vice President C.P. Radhakrishnan, External Affairs Minister S. Jaishankar, and Petroleum Minister Hardeep Puri. He will attend the India-Brazil Business Forum and visit the All India Institute of Ayurveda to explore partnerships in health and innovation.

Brazil is India’s largest trade partner in South America. The leaders of both nations recently set a target to raise bilateral trade to USD 20 billion within five years. The visit is expected to identify new sectors of collaboration and enhance the strategic partnership between India and Brazil.

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Alckmin, also Brazil’s Minister of Development, Industry, Trade and Services, will hold the inaugural Trade Ministerial Review Meeting with Commerce Minister Piyush Goyal on October 16. He will be accompanied by Cabinet ministers, senior officials, and a business delegation.

During the visit, Alckmin will meet Defence Minister Rajnath Singh and Brazilian Defence Minister Jose Mucio Monteiro Filho to discuss military cooperation and defence industrial collaboration. He is also scheduled to meet Vice President C.P. Radhakrishnan, External Affairs Minister S. Jaishankar, and Petroleum Minister Hardeep Puri.

Alckmin will attend the India-Brazil Business Forum and visit the All India Institute of Ayurveda. Brazil is India’s largest trade partner in South America, with bilateral trade reaching $12.19 billion in 2024-25. Both nations aim to raise trade to $20 billion in five years, focusing on pharmaceuticals, chemicals, MSMEs, and other sectors.

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A bilateral meeting was held between India’s Department of Chemicals and Petrochemicals and Saudi Arabia’s Ministry of Industry and Minerals. The Indian delegation was led by Secretary Nivedita Shukla Verma, while the Saudi side was headed by Vice Minister Khalil bin Ibrahim bin Salamah.

Both sides recognized complementarities in the sector, with Saudi Arabia strong in petrochemicals and India in specialty chemicals. They agreed to increase collaboration across the value chain, including investments in India’s PCPIRs and partnerships between major companies.

The two countries also committed to cooperation in research, development, and skill-building. The ministry said the partnership aims to be sustainable and mutually beneficial, strengthening strategic and economic ties. Saudi Arabia is India’s fourth-largest trade partner, while India ranks second for Saudi Arabia. Earlier, the countries agreed to boost cooperation in textiles.

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Goyal encouraged businesses to leverage these programmes to promote innovation, manufacturing, and entrepreneurship. He said such efforts would foster shared prosperity between India and Qatar. He also addressed an Indian community event, praising the diaspora for enhancing bilateral relations.

The minister highlighted Prime Minister Narendra Modi’s vision for a self-reliant India and the journey toward ‘Viksit Bharat 2047’. He urged the community to explore new collaboration opportunities and strengthen cultural and business connections between the two countries.

During his visit, Goyal launched India’s Unified Payments Interface (UPI) at Lulu Hypermarket in Doha. Calling it a “game-changer” for digital payments, he said UPI reflects India’s commitment to cross-border commerce and the ‘Digital India’ mission. The service will be available at Qatar National Bank terminals, facilitating payments for Indian travellers and boosting trade and tourism.

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Trump shared on Truth Social that both leaders plan to continue talks and meet in the near future, in Brazil and the US. He added that he enjoyed the call and expected stronger cooperation between the countries.

Lula also confirmed the call on X, recalling the good chemistry they shared during their brief meeting at the UN General Assembly in New York last month. Lula stressed that direct contact could restore the 201-year friendly relations between the two largest democracies in the West. He highlighted the US surplus with Brazil in goods and services.

The Brazilian President urged the US to lift tariffs on Brazilian goods. He may meet Trump again during the ASEAN Summit in Malaysia in late October. The call comes after the Trump administration imposed a 50% tariff on Brazil, part of broader tensions with BRICS nations. Trade talks with India have also resumed, aiming to address similar tariff issues.

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India is also seeking the removal of the additional 25 per cent tariff on Russian oil, stressing that the country should not be singled out. External Affairs Minister S. Jaishankar raised concerns over “double standards” in access to energy and food supplies during the G20 Foreign Ministers’ meeting.

Jaishankar met US Secretary of State Marco Rubio in New York, emphasizing sustained engagement on trade and priority areas. Commerce and Industry Minister Piyush Goyal and US Trade Representative Jamieson Greer also participated in the discussions, which focused on trade, tariffs, and broader bilateral issues.

The Ministry of Commerce and Industry described the meetings as constructive. Rubio indicated the Trump administration may reconsider the additional Russian oil tariffs on India. MEA officials reiterated that India’s stance remains firm on energy purchases and fairness, highlighting statements urging European nations to curb Russian oil imports without imposing double standards.

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