Mukesh Jagota

The India-Oman free trade agreement goes live on June 1, eliminating duties on $3.64 billion of Indian exports and boosting professional mobility with a 50% corporate visa quota.

India sticks to demand for lower tariffs than competitors

As the landmark India-Oman CEPA trade deal comes into force, Oman has offered to divert its entire share of OMIFCO fertilizer production to India to offset Strait of Hormuz supply shocks.

Read this exciting story from Financial Express Mumbai June 02, 2026 issue. INDIA DEMANDS LOWER TARIFFS THAN COMPETITORS

India will launch its first Producer Price Indices on June 15 alongside a revised Wholesale Price Index, marking a major shift towards globally accepted measures of producer inflation.

India and the UK are discussing ways to overcome hurdles delaying the implementation of their trade pact, with UK steel import restrictions and carbon tax plans emerging as key concerns.

The US has proposed an additional 12.5% tariff on imports from India under a Section 301 investigation, even as both countries continue negotiations on an interim trade deal.

Working groups to identify 100 products

A statement issued by the government after the conclusion of the bilateral talks that began on Monday was, however, non-committal on whether India's demand for a tariff advantage in the US market in relation to its key Asian competitors was accepted by the US side.

Congestion at major West Coast ports, including JNPT, has pushed up export costs by as much as Rs 30,000 per container as container backlogs and a shortage of trailer drivers disrupt cargo movement. Exporters are also facing delays in vessel schedules and increased logistics expenses.