trade

 Following trade talks in Geneva, in which the United States and China agreed to withdraw reciprocal tariffs for an initial 90-day period, US President Donald Trump described the outcome as a "total reset" in relations with China.

Congress leader Rashid Alvi termed India's decision to halt all direct and indirect imports from Pakistan as a "cosmetic step", claiming that with bilateral trade effectively halted, it is India which will be affected more

The decree signed to implement the changes came into effect in January 2025. It outlines provisions for early retirement, resignation, reskilling and training to facilitate the reorganisation of cadres, public employees and civil servants.

The two leaders also exchanged views on various regional and global issues of mutual interest, and called for dialogue and diplomacy as the way forward.

The interim government's decision, which is likely to increase the import time, did not sit right with Bangladeshi garment and knitwear exporters.

Indian government on Wednesday revoked the transshipment facility given to Bangladesh. Now Bangladeshi exporters will have to use longer routes, which will add significant delays and cost to the shipments

The Modi govt has been taking proactive measures, including trader negotiations, tariff relaxations, diversification and sectoral analysis to mitigate the negative impact of the US reciprocal tariffs.

Trump stated that the tariff hike was in response to Ontario Premier Doug Ford's decision to impose a 25% tax on electricity exports to the U.S.—a move that itself was a reaction to Trump's initial 25% tariffs on Canadian imports.

The Mahakumbh festival in the holy city of Prayagraj is estimated to have generated business of over ₹3 lakh crore (USD 360 billion) through goods and services, as per Confederation of All India Traders

India's merchandise trade deficit is expected to have narrowed to USD 20.88 billion in January 2025, down from USD 21.94 billion in December 2024, according to a report by Union Bank of India.