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New Delhi, Oct 1 (SocialNews.XYZ) Indian coffee is sustainable as it is grown in conjunction with forests, and its exports have doubled in recent years, Commerce Secretary Rajesh Agrawal said on International Coffee Day on Wednesday. Inaugurating the coffee experience zone and expo organised by the Coffee Board on the occasion, Agrawal, who took charge as Commerce Secretary on Wednesday, emphasised the need for greater diversification in the area of coffee cultivation. "With a fast-rising middle class, increased domestic consumption of coffee is only a matter of time," he said. The value addition in coffee is taking place, with new entrepreneurs entering the sector in areas such as instant coffee and speciality coffee, he added. The Commerce Secretary underlined the need to continue innovating and adding value, pointing out that India, being a land of spices, has immense opportunities to innovate with coffee. "Apart from exporting coffee, it is also important to work on 'Brand India' and position the country strongly in the global market," he highlighted. The event coincides with the implementation of the India-European Free Trade Association (EFTA) trade and economic partnership agreement (TEPA), which provides new opportunities for Indian coffee to access premium markets in Switzerland, Norway and Iceland. Among the EFTA member countries, Switzerland and Norway are high-value markets with strong demand for high-quality coffees. India-EFTA TEPA may provide the most favourable market access to Indian coffee in the EFTA market. India EFTA TEPA may help the coffee exporters to access the premium markets in Switzerland, Norway and Iceland with the opportunity for positioning India's high-quality shade-grown, hand-picked and sun-dried coffees in the EFTA market, Agrawal stated. EFTA member countries like Switzerland (USD 145 million), Norway ($27 million) and Iceland ($3 million) together import coffee valued at $175 million, which is about 3 per cent of the global coffee imports.
NEW DELHI: Axiom-4 crew members, including Shubhanshu Shukla, were welcomed with hugs and drinks as they stepped into the International Space Station on Thursday. The newly launched spacecraft -- the fifth in the Dragon series and named Grace -- successfully completed a soft docking with the International Space Station at 4.01pm while orbiting above the North Atlantic Ocean."At 6:31 am EDT (4:01 IST) on Thursday, the SpaceX Dragon spacecraft docked to the International Space Station for the fourth private astronaut mission to the orbiting laboratory, Axiom Mission 4," the National Aeronautics ...Read More >
Mumbai, Jul 19 (PTI) India remains a key destination for overseas investments and is likely to attract USD 100 billion in foreign direct investments (FDIs) from the four-nation European bloc EFTA, Union Commerce and Industry Minister Piyush Goyal said on Saturday. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. Also Read | Bodoland Lottery Result Today, July 19, 2025: Assam State Lottery Sambad Saturday Lucky Draw Results Declared, Check Winners List With Ticket Numbers. Speaking at an Assocham Managing Committee meeting here, Goyal al ...Read More >
New Delhi, Oct 1 (PTI) India will not only attract USD 100 billion committed investments from the four-nation EFTA bloc under a trade agreement, but also look at an additional USD 150 billion, Commerce and Industry Minister Piyush Goyal said on Wednesday. He said that huge opportunities are there for companies from these four countries to invest in India. Under the India-EFTA trade and economic partnership agreement (TEPA), New Delhi has received a commitment of USD 100 billion FDI from EFTA over the next 15 years. The European Free Trade Association (EFTA) members are Iceland, Liechtenstei ...Read More >
Hyderabad: The depreciation of the Indian rupee against foreign currencies like the US dollar due to the West Asia crisis is stepping up financial pressure on families of Indian students studying overseas, particularly in the United States and Canada. A weaker rupee will make tuition fees and living costs more expensive. Families who had already paid the full course fees earlier are feeling relieved, as they managed to avoid the impact of the weaker rupee. However, those who are paying fees semester-wise or in instalments are facing growing difficulties. With the rupee value depreciating rapi ...Read More >
New Delhi: India is set to overtake Japan to become the world's fourth-largest economy, but must not become complacent, as the country remains far behind Japan in GDP per capita terms, WEF's former MD Claude Smadja said. According to IMF data dated April 2025, India's GDP per capita of USD 2,878.4 is approximately 8.5 per cent of Japan's GDP per capita of USD 33,955.7, meaning Japan's per capita income is about 11.8 times higher than India's. "Yes, it (economy size) is a good indicator because it gives a notion of the economic weight of the country on the global balance. "No, it is not a go ...Read More >
New Delhi, Aug 28 (PTI) India's gains from importing discounted Russian oil are estimated to be just USD 2.5 billion per annum, significantly lower than the previously speculated range of USD 10-25 billion, a research report said on Thursday. Stopping Russian oil imports would force India, the world's third-largest oil importer and consumer, to rely on limited alternatives, potentially driving global crude prices up to USD 100 per barrel amid rising demand and tight supply. "Benefit from Russian oil imports is way less than exaggerated media numbers," brokerage CLSA said in a report. While ...Read More >
"I look forward to his continued guidance and blessings as we advance key initiatives for growth and prosperity," he said in a post on X. (Image: X/@naralokesh) Andhra Pradesh IT and Human Resource Development Minister Nara Lokesh met Prime Minister Narendra Modi in Delhi on Friday and sought the Centre's continued support for the State's development and investment initiatives. Lokesh thanked the Prime Minister for the recent GST rationalisation, describing it as a landmark reform that would en ...Read More >
Mumbai: The RBI is likely to reduce the key interest rate by 25 basis points this week after keeping it on hold for two years, complementing the Union Budget initiatives to push consumption-led demand, though the sliding rupee continues to be a concern. As the retail inflation has remained within the Reserve Bank's comfort zone (less than 6 per cent) for most of the year, the central bank can take rate action to boost growth hit by sluggish consumption, opined experts. The Reserve Bank of India (RBI) has kept the repo rate (short-term lending rate) unchanged at 6.5 per cent since February 20 ...Read More >
Mumbai (Maharashtra) [India], July 19, (ANI): The India-EFTA Trade and Economic Partnership Agreement (TEPA) will come into effect from October 1, Union Commerce and Industry Minister Piyush Goyal announced on Saturday. All countries have now ratified. Lodged their document with the repository, which was Norway, and from first October, EFTA will come into effect, Union Commerce and Industry Minister said while addressing the session Creating Global Impact Towards Viksit Bharat, organised by ASSOCHAM in Mumbai. On 10 March 2024, Member States of the European Free Trade Association - Iceland, ...Read More >
New Delhi: Prime Minister Narendra Modi on Sunday said Indian coffee is gaining popularity globally, driven by the diverse varieties grown in states, including Karnataka, Tamil Nadu and Kerala. In his 127th edition of his monthly radio address Mann ki Baat, the Prime Minister also said the Northeast is also progressing in coffee cultivation and this is further strengthening the identity of Indian coffee worldwide. "Indian coffee is becoming very popular all over the world. Be it Chikmagalur, Coorg and Hassan in Karnataka; the areas of Pulney, Shevaroy, Nilgiri, and Annamalai in Tamil Nadu; t ...Read More >
New Delhi, Sep 30 (PTI) The free trade agreement between India and the four-nation European bloc EFTA will come into force from Wednesday under which New Delhi has received an investment commitment of USD 100 billion in 15 years from the grouping while allowing several products such as Swiss watches, chocolates and cut and polished diamonds at lower or zero duties. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. It was signed on March 10, 2024. Domestic customers will get access to high-quality Swiss products such as watches, chocolates ...Read More >
Indian rupee (left) and US dollar currency notes are held by a foreign exchange employee. File/AFP India will not accept limits on its trading choices or rush to sign agreements, Trade Minister Piyush Goyal said on Friday, even as a senior government official said a bilateral trade deal with Washington was "very near." "India will not sign any trade deal in a hurry," Goyal said during a speech at the Berlin Global Dialogue, referring to European Union and the US concerns over India's continued purchases of Russian oil. Alongside ongoing EU free trade pact negotiations, India is in trade tal ...Read More >
US President Donald Trump has reduced import duties on nearly 200 agricultural and food products, benefiting Indian suppliers of spices, tea, and processed foods. This move aims to address domestic pressure over rising prices, with India's exports of spices and processed foods expected to see significant gains. Indian suppliers of spices, tea and several processed foods are set to benefit after US President Donald Trump reduced import duties on close to 200 agricultural and food products, report ...Read More >
Greater Noida (Uttar Pradesh) [India], September 29 (ANI): Commerce and Industry Minister Piyush Goyal has said Uttar Pradesh is becoming a global centre for investment, innovation, and exports. Also Read | Canada Government Declares Bishnoi Gang Led by Gangster Lawrence Bishnoi As Terrorist Organisation. Speaking at the third UP International Trade Show, he said the event is a strong platform for Uttar Pradesh's self-reliance and prosperity. He also said India is holding negotiations for Free Trade Agreements (FTA) with several countries of the world, and the country is on the way to becom ...Read More >
New Delhi, Sep 30 (PTI) As the free trade agreement between India and four European nations EFTA will come into effect from Wednesday, several Swiss products like wines, chocolates, apparel, and watches will become cheaper in the domestic market. On the other hand, Indian labour-intensive sectors, such as certain agri goods like tea and coffee, fruits, processed, textiles, marine products, leather, sports goods, toys, and gems and jewellery, will get greater market access in the member countries of the European Free Trade Association (EFTA), giving a boost to exports. The EFTA members are Ic ...Read More >
India is aggressively expanding its global trade footprint, actively pursuing numerous FTAs across Europe, Asia, and the Middle East. Recent milestones include operationalizing a landmark investment-linked pact with EFTA, accelerating CEPA with the UAE, and advancing talks with the EU, EAEU, and Oman, signaling a strategic push for economic cooperation and influence. India is quietly but steadily positioning itself at the centre of global trade networks. With multiple free trade agreements (FTAs ...Read More >
According to the latest forecast from the IMF, India's economy is set to grow by 6.6% in FY26, a testament to its solid economic backbone and adaptability. The surge in consumer spending and significant infrastructure projects are propelling this growth. The International Monetary Fund (IMF)'s recent upward revision of India's FY26 economic growth forecast to 6.6% from 6.4% earlier reflects the country's economic resilience and strong fundamentals, Commerce and Industry Minister Piyush Goyal sai ...Read More >
Jammu, Jul 18 (PTI) Senior officials of the Jammu and Kashmir government reviewed the arrangements for the smooth conduct of the 13-day-long Budha Amarnath pilgrimage in Poonch district that will begin on July 28. Deputy Inspector General of Police Tejinder Singh reviewed security in Poonch and stressed ensuring the safety of the devotees. "The first batch will depart from the Bhagwati Nagar basecamp in Jammu on July 28, moving towards the Mandi tehsil in Poonch in a regulated convoy amid full security arrangements," a spokesperson said. Jammu Divisional Commissioner Ramesh Kumar and Inspec ...Read More >
Explore India's FTA with EFTA: USD 100 billion investment, 1 million jobs, tariff reductions, and benefits for key sectors. New Delhi, Oct 1 (PTI) India's free trade agreement (FTA) with four European nation bloc European Free Trade Association (EFTA) comes into effect. It is aimed at boosting two-way commerce and investments. The EFTA members are Iceland, Liechtenstein, Norway, and Switzerland. It was signed on March 10, 2024. * What is an FTA? It is an arrangement between two or more countries where they agree either to eliminate or reduce customs or import duties on the maximum number o ...Read More >
Martin Saladin, Head of Promotion Activities Directorate at State Secretariat for Economic Affairs Martin Saladin, Head of the Promotion Activities Directorate at the State Secretariat for Economic Affairs, SECO, the Swiss government, on Wednesday said that Switzerland is shifting its focus towards India as a strategic economic partner amid the US trade tariffs. On US tariffs, Saladin said, "This is a concern. Obviously, Switzerland has also very high tariffs at the moment with 39 per cent. Tha ...Read More >
New Delhi [India], March 31 (ANI): Prime Minister Narendra Modi on Tuesday expressed deep grief over the demise of former Suriname President Chandrikapersad Santokhi, calling it an "irreparable loss" for both Suriname and the global Indian diaspora. In a post on X, PM Modi said, "Deeply shocked and saddened by the sudden demise of my friend and the former President of Suriname, Chandrikapersad Santokhi Ji. This is not only an irreparable loss to Suriname but also to the global Indian diaspora." Recalling his personal interactions with Santokhi, the prime minister highlighted the late leader' ...Read More >
New Delhi [India], April 3: For millions of Indians travelling abroad each year, one of the first challenges after landing has nothing to do with immigration queues or luggage belts. It is the scramble for mobile connectivity -- navigating unfamiliar telecom stores, paying steep roaming charges, or going without data until hotel Wi-Fi becomes available. A rapidly maturing technology is now poised to make that experience obsolete. Also Read | Airline Seat Policy Rollback: Govt Suspends 60% Free Seat Selection on Flights After FIA and Akasa Air Raise Concerns. The travel eSIM -- a digital SIM ...Read More >
New Delhi, Jun 30 (PTI) Congress leader Jairam Ramesh on Monday said that government think-tank NITI Aayog has withdrawn a working paper on Indo-US Agriculture trade relations. The Aayog in a working paper, titled Promoting India-US Agricultural Trade Under the New US Trade Regime, had suggested that in the aftermath of 'reciprocal tariffs' by the US, India should adopt dual-track approach and selectively reduce high tariffs on non-sensitive agricultural commodities imports from Washington, while also strategically offer concessions where domestic supply gaps exist. "This was the NITI Aayog ...Read More >
New Delhi, Jul 1 (PTI) Hectic negotiations between India and the US enter the sixth day on Tuesday in Washington, with the talks reaching a crucial stage and New Delhi demanding greater market access for its labour-intensive goods, an official said. The Indian team, headed by special secretary in the Department of Commerce Rajesh Agrawal, is in Washington for negotiations on an interim trade agreement with the US. The stay of the Indian officials has been extended. Initially, the delegation was scheduled to stay for two days, with the talks having commenced on June 26. These talks are also ...Read More >
New Delhi [India], July 3 (ANI): A new trade agreement between the United States and Vietnam is raising concerns and offering key lessons for India, especially for Indian exporters who see Vietnam as both a competitor and a partner in regional value chains, according to a report by the Global Trade Research Initiative (GTRI). The report highlighted that despite a historic trade agreement signed in 2000 that allowed Vietnamese goods to enter the US at concessional tariffs of 2 to 10 per cent, the new deal imposes a flat 20 per cent tariff on all Vietnamese exports to the U.S. Also Read | Is S ...Read More >
India and the EU are set to continue FTA negotiations in September, following the 12th round in Brussels where both sides exchanged offers on services. Discussions also covered market access for goods. Aiming to finalize the trade deal by year-end, the EU seeks duty cuts in automobiles and a strong IP regime, while India anticipates enhanced competitiveness for its exports. India and the European Union (EU) will hold the next round of negotiations on the proposed free trade agreement (FTA) in Se ...Read More >
Lucknow, Jul 17 (PTI) Uttar Pradesh's capital city has secured the third position in the category of urban spaces with population exceeding 10 lakh, while Prayagraj was adjudged the Cleanest Ganga City in the ninth edition of the Swachh Survekshan. Lucknow also became the first city in the state to achieve a 7-star Garbage Free City rating in the 2024-25 survey. Gorakhpur achieved double success, ranking third in the Safai Mitra Surakshit Sheher category and fourth among cities with a population between 3 to 10 lakh. Agra has been recognised as the Emerging Clean City of Uttar Pradesh, securi ...Read More >
New Delhi, Aug 28 (PTI) As the 50 per cent tariffs imposed by the US come into effect, close to one-fourth of India's textile exports may be severely impacted in the next six months, with America being the largest export market for the country's apparel industry and exporters grappling with order cancellations, experts said on Thursday. However, the extension of duty-free import of cotton by three more months till December 31 is expected to bring some much-needed relief to the domestic textile industry, as it looks to mitigate the impact of the steep tariffs by re-orienting its export strateg ...Read More >
India's Free Trade Agreement (FTA) with the European Free Trade Association (EFTA) countries -- Switzerland, Liechtenstein, Norway and Iceland -- will officially come into effect from 1 October 2025, Union Minister of Commerce and Industry Piyush Goyal announced on Monday. Speaking at the valedictory session of the UP International Trade Show, Goyal said the deal, which was finalised in March 2024, marks another major step in India's global trade strategy. "Free Trade Agreement (FTA) with the EFTA countries (Iceland, Liechtenstein, Norway, and Switzerland), which was finalised in March 2024, ...Read More >
New Delhi, September 30 (IANS): As the India-European Free Trade Association (EEFTA) Trade and Economic Partnership Agreement (TEPA) comes into effect from October 1, the India-EFTA Desk has been inaugurated as a single-window platform to facilitate EFTA investments in renewable energy, life sciences, engineering, and digital transformation, while fostering joint ventures, SME collaborations, and technology partnerships, the government said on Tuesday. The TEPA establishes India's first FTA with four developed European nations and commits $100 billion in investments and 1 million direct jobs ...Read More >