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Ashok Gulati, a prominent Indian agricultural economist and professor at the Indian Council for Research on International Economic Relations (ICRIER), has suggested that India may not suffer significant losses in agricultural exports despite new tariffs imposed by US President Donald Trump. He highlighted the importance of strategic negotiation during bilateral trade talks, asserting that India could potentially gain if it negotiates effectively. Currently, Indian agricultural exports face a 27% tariff, but the impact will vary across different products, depending on how these tariffs compare with those imposed on competing countries like Vietnam and Thailand. For instance, if Indian rice is taxed at 26% while competitors face higher tariffs, India could benefit. Gulati concluded that the outcome hinges on India's ability to secure a favourable bilateral trade agreement, which could transform the tariff challenge into an opportunity. 
Published: Apr 04 2025, 8 ameznews.inIndia, the world's largest honey exporter to the US, is poised to reassess its minimum export price for honey in light of new tariffs imposed by the US, which could disadvantage Indian exporters against competitors like Argentina and New Zealand. Despite these challenges, government officials assert that India's unique mustard-based honey offers a quality advantage. In 2023, India exported $185 million worth of honey, with $161 million going to the US, while Argentina followed with $133 million. The US has implemented an anti-dumping duty of 5.8% on Indian honey, with final rates expected soon. Industry experts warn that if Vietnam's anti-dumping duties rise significantly, India could benefit, but if they remain competitive, Indian exporters may struggle. With the global honey trade valued at $2.33 billion, India has opportunities to expand its market presence beyond the US, particularly in 26 other countries where it ranks among the top five suppliers.
Published: Apr 04 2025, 8 pmeznews.inUS President Donald Trump has indicated that unprecedented tariffs on the pharmaceutical industry are imminent, stating aboard Air Force One that "Pharma (tariffs) is going to be starting to come in, I think, at a level that you haven’t really seen before." This announcement follows the recent introduction of country-specific tariffs that initially exempted pharmaceuticals, leaving the industry in a state of uncertainty. Experts suggest that companies are bracing for varying tariff scenarios, with potential impacts on stock prices already evident, as major Indian pharmaceutical firms saw declines on Friday. Industry insiders express hope for bilateral negotiations, emphasizing the importance of Indian generic drugs in maintaining US healthcare costs. However, the lack of clarity on tariff structures and potential counter-tariffs complicates planning for drugmakers, who warn that increased operational costs in the US could lead to higher drug prices. India's pharma exports to the US are valued at $8.7 billion, with ongoing discussions about reciprocal tariff measures.
Published: Apr 04 2025, 8 pmeznews.inIndia is treading carefully in its negotiations for tariff cuts with the United States as part of the ongoing bilateral trade agreement (BTA). Other trading partners, including Australia, the EU, and the UK, are closely monitoring these discussions, seeking similar concessions through a 'most favoured nation' (MFN) clause in their own agreements with New Delhi. This clause ensures that if India offers better terms to one country, those terms must also apply to others under the MFN framework. Australia, for instance, is keen to incorporate the MFN clause into its Comprehensive Economic Cooperation Agreement with India, following the precedent set in the India-Australia Economic Cooperation Trade Agreement. The EU is also pushing for MFN in its negotiations, while the UK has highlighted the importance of such concessions during recent talks. As India considers tariff reductions for the US, it must balance these expectations from multiple partners, complicating its trade strategy.
Published: Apr 04 2025, 8 pmeznews.inIn a significant move to protect domestic farmers, the Indian government has prohibited the import of roasted areca nuts under the newly designated code 08028090, transitioning from a previously unrestricted regime. The Directorate General of Foreign Trade (DGFT) issued a notification on April 2, clarifying that all processed areca nuts, including roasted varieties, now fall under this prohibited category. This decision follows concerns raised by the Central Arecanut and Cocoa Marketing and Processing Cooperative (Campco), which highlighted that misclassification by importers had adversely affected local growers. The new policy mandates a minimum import price of ₹351 per kilogram, aimed at curbing tariff evasion and ensuring fair market conditions. Campco President A Kishore Kumar Kodgi welcomed the change, asserting it would prevent market distortions and enhance the quality of Indian arecanut in both domestic and international markets, while also expressing gratitude to Union Commerce Minister Piyush Goyal for the decisive action.
Published: Apr 04 2025, 8 pmeznews.inFarmers in Odisha are advocating for a premium on the current paddy purchase rate of ₹3,100 per quintal from seed companies, raising concerns about the viability of contract farming for the upcoming kharif season. This issue extends beyond Odisha, with similar demands emerging in Chhattisgarh and Telangana, where farmers receive bonuses above the minimum support price for paddy. The Agriculture Ministry has acknowledged these concerns following a webinar where a farmer producer organization sought clarity on pricing from the National Agricultural Cooperative Marketing Federation (Nafed) and the National Seeds Corporation (NSC). While paddy seed availability is not expected to be a problem, experts warn that increased seed prices could elevate production costs, complicating the balance between fair compensation for farmers and sustainable production expenses. The cost of paddy production in Odisha has risen significantly, with recent figures indicating ₹55,596 per hectare, compared to ₹41,668 in Chhattisgarh.
Published: Apr 04 2025, 8 pmeznews.inThe United States has imposed significant tariffs on solar equipment imports, with 26% on Indian exports, 46% on Vietnam, and a cumulative 54% on China. This move is expected to provide a slight competitive advantage to Indian solar manufacturers, as they face lower tariffs compared to their Chinese and Vietnamese counterparts. However, the higher tariffs on imported machinery and components from the US could increase costs for Indian developers, particularly in the renewable energy sector, which relies heavily on such imports. Experts suggest that while India could see a boost in module exports to the US, its dependence on Chinese components remains a concern, as over 50% of its solar PV cell and module components are sourced from China. Industry leaders emphasize the need for India to strengthen its supply chain and adapt to these geopolitical shifts to maintain growth in the renewable energy market.
Published: Apr 04 2025, 6 pmeznews.inThe Indian government is set to implement a new tariff line regime for rice exports, effective May 1, following amendments to the Customs Tariff Act, 1975, through the Finance Act 2025, passed on March 29. Minister of State for Commerce Jitin Prasada announced that this initiative will benefit over 20 Geographical Indication (GI) varieties of rice, including Basmati, recognized under the Geographical Indications of Goods (Registration and Protection) Act, 1999. The new classification aims to enhance policy formulation and trade for these rice varieties. Additionally, Union Minister of State for Agriculture Bhagirath Choudhary reported that while rising temperatures have impacted wheat yields in certain regions, the national average productivity remained stable due to the adoption of heat-tolerant varieties. In related news, the government has mandated the use of jute packaging for food grains and allowed the import of Dent Corn under a tariff rate quota, although no imports have occurred yet due to unfavorable market conditions.
Published: Apr 04 2025, 7 pmeznews.inAgri value chain enabler Samunnati has successfully raised ₹146 crore in recent debt funding from prominent institutions, including State Bank of India and Axis Bank, contributing to a total of ₹2,300 crore for the financial year 2024-25—a 50% increase from the previous year. The company has diversified its lending sources, onboarding 12 new lenders, which now totals 46, including major banks and developmental financial institutions. This financial backing has facilitated over ₹7,000 crore in gross transaction value and a 30% growth in average assets under management, reaching ₹2,000 crore. Founder Anil Kumar SG emphasized the company's commitment to empowering smallholder farmers and agri-enterprises with tailored solutions. Notably, Samunnati became the first non-banking financial company in the agriculture sector to list a Green Bond on the Bombay Stock Exchange, underscoring its dedication to sustainable finance. The company anticipates a robust pipeline of over ₹600 crore for Q1 FY26.
Published: Apr 04 2025, 7 pmeznews.inThe Defence Research and Development Organisation (DRDO) and the Indian Army have successfully conducted trials of the Medium-Range Surface-to-Air Missile (MRSAM), demonstrating its operational capability to intercept aerial threats. Over two days, four tests were carried out off the coast of Odisha, where the missile effectively destroyed high-speed aerial targets at various altitudes and ranges, confirming its effectiveness against fighter aircraft, missiles, and drones. The trials involved senior officials and validated the weapon system's performance through advanced tracking technologies. Although the exact range of the MRSAM was not disclosed, sources indicate it is effective up to 70 km. Defence Minister Rajnath Singh praised the successful tests as a significant milestone for the Indian Army, which plans to deploy the mobile weapon systems in two regiments. The MRSAM, developed in collaboration with Israel Aerospace Industries, features a multi-function radar and mobile launch capabilities.
Published: Apr 04 2025, 7 pmeznews.inGold prices plummeted by $100 per ounce following a significant selloff in commodities and equities markets, triggered by US President Donald Trump's announcement of reciprocal tariffs. The Bloomberg Commodity Index fell nearly 3% to 101.59, with energy products like crude oil and natural gas among the hardest hit. Other commodities, including gold, silver, and copper, also experienced declines, as concerns over a potential US-led global recession grew. Research agency BMI warned that investor sentiment is likely to shift towards a challenging demand outlook for commodities in the coming weeks. Despite the downturn, a weakening dollar may prevent a total collapse in commodity prices, except for crude oil. Analysts predict that if gold remains below $3,070, it could drop to $3,000. The ongoing US-China tensions further exacerbate fears of reduced demand for industrial metals and agricultural products.
Published: Apr 04 2025, 7 pm
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