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Incoterms
Trade US Widens Mexican Cartel Crackdown to Tequila Makers and Baby Shoe Company in Largest CJNG Sanctions Package
The Trump administration imposed sanctions on more than 50 Mexican individuals and companies tied to the Cartel Jalisco Nueva Generación (CJNG), including tequila producers, a baby shoe manufacturer, and logistics firms. Announced by the Treasury Department's OFAC, the action freezes U.S. assets and prohibits business with sanctioned parties, targeting businesses allegedly used for money laundering and drug trafficking.
Trade US Imposes 10% Tariff on India Under Forced Labour Probe; Oil Prices Surge
The US Trade Representative has announced a permanent 10% additional tariff on India and 16 other countries under Section 301 for allowing imports of goods produced with forced labour. The levy, lower than the proposed 12.5%, replaces a temporary duty and is unlikely to have a major impact. Separately, Indian crude basket surged 11% to $103.33 per barrel amid supply disruptions.
Trade US Imposes 10% Tariffs on India, Pakistan, Bangladesh, UK Over Forced Labour Investigation
The U.S. Trade Representative imposed 10% tariffs on India, Pakistan, Bangladesh, the UK, and other nations following a Section 301 investigation into forced labour practices. The move comes as India and the US progress on a bilateral trade agreement.
Trade Trump's Generic Drug Tariffs Explained: What It Means for Indian Pharma Before the 200% Storm
US President Donald Trump unveiled a phased tariff plan for imported generic medicines: duty-free for two years from August 1, then 100% for one year, followed by 200%. For Indian drugmakers, the plan offers temporary relief but signals a long-term shift. India's pharma exports to the US account for 34% of total pharma exports, worth $30.47 billion in 2024-25. Leading companies with US manufacturing operations may have greater flexibility.
Trade PM Modi pushes to cut import dependence, boost domestic manufacturing to shield India from global shocks
Prime Minister Narendra Modi has ordered a push to replace high-import goods with local products. The Ministry of Commerce is preparing a list of over 100 products, while the cabinet approved a $19.7 billion incentive boost for chip and smartphone production. Economists say self-reliance is born of necessity.
Trade India-UK CETA Cuts British Car Prices But Scotch Waits for State Excise Clearances
The India-UK Comprehensive Economic and Trade Agreement (CETA) took effect, prompting immediate price cuts of up to Rs 75 lakh on JLR models and nearly 38% on McLarens. However, Scotch whisky and gin tariff cuts are delayed by at least a month as companies file revised costs with state excise departments. ISWAI estimated a 12-13% price reduction for imported whisky if benefits are passed on.
Trade India-UK Trade Pact Comes Into Force: Gold Standard FTA Brings Zero Duties on 99% of Indian Goods
The India-UK Comprehensive Economic and Trade Agreement (CETA) and a Social Security Agreement came into force on July 15, 2026. The pact eliminates UK duties on 99% of Indian goods from Day One and includes provisions on government procurement, intellectual property, and social security contributions for Indian professionals. Both countries aim to boost bilateral trade to $100 billion by 2030.
Trade EU Carbon Pricing Compliance Maze: Shipowners Face Duplicate Reporting and Costs
The European Commission has pledged to prevent double charging for shipping emissions, but without detailed guidance, shipowners face a compliance maze. EU ETS, FuelEU Maritime and the IMO's emerging framework operate with different scopes, timelines and calculation methods, creating risks of duplicate reporting and costs. EmissionLink warns that accurate data and expert interpretation are essential.
Trade Europe risks sleepwalking into Chinese-built electric corridors, Splash247 warns
As battery-electric shortsea ships move to commercial deployment, Europe faces a strategic risk of outsourcing key infrastructure—yards, batteries, software, and standards—to China. Norway's Eitzen Group ordered two electric 900 TEU container ships from Zhejiang Dongpeng in June 2026, illustrating the trend. The article by Wolfgang Lehmacher argues that Europe's piecemeal policy approach contrasts with China's integrated industrial strategy, potentially locking European trades into a Chinese-built corridor operating system.
Trade Iran rushes to sell oil to India after Trump sanctions waiver – all you need to know
Following a 60-day sanctions waiver from the Trump administration, Iran is rushing to sell crude to Asian buyers including India. Around 68 million barrels of oil are floating at sea, over 80% without confirmed destination. However, Asian refiners remain cautious due to policy uncertainty and sanctions complexities.
Trade Japan-India Annual Summit: 150+ Firms Back $12.5 Billion Leap to Fortify Security Ties
At the Japan-India Annual Summit in New Delhi, over 150 Japanese companies are participating in initiatives valued at approximately 2 trillion yen ($12.5 billion) to strengthen bilateral security and economic ties. The draft joint statement addresses rare earth export curbs by China, defence equipment transfer updates, and cooperation on AI, chips, and clean energy.
Trade India-Japan Summit: Modi and Takaichi Deepen Bilateral Partnership with $12.5 Billion Investment Push
The India-Japan annual summit between PM Narendra Modi and PM Sanae Takaichi concluded with the exchange of several MoUs covering economic cooperation, AI, and metals and energy security. More than 150 Japanese companies are participating in the Japan-India Economic Forum, with approximately 120 cooperation agreements expected, valued at around ¥2 trillion ($12.5 billion) across semiconductors, clean energy, AI, and manufacturing.
Trade India to Include Jewellers in Revamped Gold Monetisation Scheme to Curb Imports
The Indian government is evaluating a proposal to include jewellers in a revamped Gold Monetisation Scheme (GMS) to unlock nearly 30,000 tonnes of idle household gold. The move, supported by meetings with the RBI and industry, aims to cut dependence on imported gold—imports in May 2026 stood at $12 billion. The revised scheme is expected in August 2026.
Trade Beyond Oil: The Agri-Input Cost of the US-Iran Conflict That Outlasts Ceasefires
The US-Iran conflict's disruption of fertilizer flows through the Strait of Hormuz outlasts ceasefires and announcements. India, which sources nearly 70% of its urea imports from Gulf suppliers, faces biological timing pressures as a late input equals a missing input for farmers. The reopening after the June peace deal was brief, with Iran closing the strait again on 20 June, triggering sharp drops in daily crossings.
Trade India and Russia set $50 billion investment target by 2030, focus on green hydrogen and critical minerals
India and Russia have set a $50 billion bilateral investment target by 2030. The India-Russia Joint Working Group on Priority Investment Projects met in Moscow, agreeing to promote joint ventures in advanced manufacturing, green hydrogen, energy storage, metallurgy, mining, critical minerals, and emerging technologies.
Trade India Asks USTR to Reconsider 12.5% Tariffs on Forced Labour Grounds, Cites Lack of Evidence
The Indian government has formally asked the U.S. Trade Representative to withdraw its proposal for 12.5% additional tariffs on Indian products, arguing the move fails to meet legal standards and lacks country-specific analysis. Indian companies including Reliance Industries and Shahi Exports have also petitioned against the tariffs, warning of higher costs for U.S. consumers.
Trade Free trade agreements to give major boost to toy exports: Industry
India's toy industry is set to benefit from free trade agreements with the EU and UK, which will provide zero duty access, up from current 5-6% import duties. The Toy Association of India said these markets account for 16% of the country's $0.35 billion toy exports in 2024. Industry leaders highlighted the need for quality testing facilities to meet stringent standards.
Trade India-Japan Trade: PM Modi, Japanese PM Takaichi Sign MoC Including $10 Billion Investment and AI Boost
India and Japan signed a Memorandum of Cooperation at the 16th India-Japan Annual Summit in New Delhi, with over $10 billion in Japanese investment committed through 120 new business agreements. The two leaders also announced a joint statement on artificial intelligence and a first joint defence co-development project, the Naval Radio Antenna 'Unicorn'. Agreements in pharmaceuticals, medical devices, and biotechnology were also signed.
Trade Piyush Goyal Leads Business Delegation to Greece to Boost Trade and Startup Ties
Commerce Minister Piyush Goyal is leading a business delegation to Greece to boost bilateral trade, investment and startup partnerships. The visit includes presentations at The Athens Startup Business Incubator and high-level business interactions. Bilateral trade stood at $1.28 billion in FY2025-26 with India enjoying a trade surplus of $845.97 million.
Trade Goyal meets exporters to discuss ways to boost shipments, leverage FTAs
Piyush Goyal met with Export Promotion Councils and industry associations to discuss strategies for boosting exports and leveraging free trade agreements. The meeting focused on MSME support, innovation, and export facilitation. Trade data for April-May 2026-27 showed exports of USD 88.91 billion and imports of USD 145.35 billion.
Trade India targets $100 billion textile exports by 2030, focus on sustainability, FTAs
India targets $100 billion in textile exports by 2030, with a focus on sustainability and leveraging free trade agreements. Union Minister Giriraj Singh and commerce officials outlined the strategy at a two-day summit, emphasizing traceability, recycling, and district-level export hubs.
Trade Chinese Tech and Investments Welcome, but Trade Opening Needs Caution: CII President
Confederation of Indian Industry (CII) President R Mukundan stated that Chinese technology and investments are welcome, but any open trade with China requires a careful and measured approach. He made the remarks amidst India's widening trade deficit with China, which reached an all-time high of USD 112.6 billion in 2025-26. Mukundan also commented on the ongoing India-US bilateral trade agreement negotiations and called for a targeted sector-specific FDI strategy.
Trade Orderful's $35M Series C Targets the Service Model That Has Defined EDI for Decades
Orderful announced a $35 million Series C funding round led by Koch Disruptive Technologies, with NewRoad Capital participating. The company's AI-native EDI solution, Mosaic, replaces manual mapping work, reducing onboarding from months to less than a week. Clients such as KBX Logistics, NFI, and Hirschbach Motor Lines report significant cuts in onboarding time, outages, and staffing needs.
Trade India-UK FTA Sparks Partnership Rush Among Boutique Law Firms
The India-UK free trade agreement, effective July 15, 2026, is prompting a surge in partnerships among boutique law firms. Mumbai-based Solicis Lex has inked a formal partnership with London’s Child & Child, and more tie-ups are expected. The FTA is expected to boost demand for legal services in real estate, immigration, M&A, and tax structuring, particularly for cost-sensitive high-net-worth individuals and SMEs.
Trade UK-India Trade Deal Calls for Standards Upgrade, Experts Say
Experts have called for Indian exporters to upgrade product standards to align with UK regulatory requirements under the upcoming Comprehensive Economic and Trade Agreement (CETA). The UK Department for Business and Trade has already launched a nationwide FTA roadshow across six cities to prepare British businesses. Rudra Kumar Pandey of SAM & Co emphasized the need for similar outreach programmes in India.
Trade Mega FTA Wave to Bring 60% of India Trade Under Preferential Regime: ET
More than 60% of India's trade will soon be under preferential terms as the UK deal takes effect next month, an EU pact is expected next year, and a US agreement is being finalised, according to the Economic Times. The report highlights India's expanding FTA network under mega trade deals.
Trade FTAs, Agri-Start-ups and FPOs to Drive Next Phase of Farm Export Growth: APEDA Chief
APEDA Chairman Abhishek Dev said the authority is leveraging recent FTAs with the UK and EU, its agri-start-up programme Bharti, and farmer producer organisations (FPOs) to drive the next phase of agricultural export growth. Dev described the FTAs as potential 'game changers' that will level the playing field for Indian processed food exporters. APEDA aims to nearly double its FPO membership to 3,000 and launch a dedicated FPO export promotion programme within two to three months.
Trade U.S. Military Uses Iranian Smuggling Tactic for Gulf Oil Transfers Amid Strait Closure
The U.S. military has conducted scores of ship-to-ship oil transfers off Fujairah and Sohar since early May, employing a shuttling technique previously used by Iran to evade sanctions. The operation, involving at least 92 ships, aims to maintain Gulf energy exports after Iran effectively closed the Strait of Hormuz, causing the biggest global energy supply disruption in history. An Apache helicopter involved in the mission was shot down by Iran on June 9.
Trade India's engineering exports jump 24% to USD 12.31 billion in May, EEPC reports as sector adapts to West Asia disruptions
India's engineering exports jumped 24% year-on-year to USD 12.31 billion in May 2026, according to EEPC India. Cumulative exports for April-May 2026-27 stood at USD 22.66 billion, a 16.8% increase over the same period last year. EEPC Chairman Pankaj Chadha highlighted the sector's adaptability amid West Asia conflict and noted that challenges persist despite the US-Iran peace deal announcement.