Daily News - Thursday, 12 June 2025
EU seeks easier quality control certification under trade deal (Financial Express)
During the 11th round of India-EU FTA talks, the EU pushed for easier compliance with India’s Quality Control Orders (QCOs), seeking smoother certification pathways through online applications and recognition of European Conformity Assessment Bodies. While five chapters were concluded, including IPR, customs, and transparency, key discussions on QCOs and dispute settlement remained, with both sides aiming to close the deal by end-2025 amid heightened ministerial engagement. If successful, the FTA will give India preferential access across the entire EU market, following similar deals with the UK and EFTA, and would be a major step in integrating Indian exports with global regulatory standards.
US rejects India again at WTO: Response to auto tariffs plea mirrors rejection over steel, aluminium dispute (mint)
The US has once again rejected India’s WTO consultation request, this time over its 25% tariffs on auto components, citing national security grounds to bypass multilateral trade rules under the GATT framework. While the direct impact on India’s auto exports is limited ($8.9 million to the US in 2024), the move signals Washington’s rigid stance as talks for a bilateral trade deal remain stalled ahead of the 8 July tariff freeze deadline. India, pushing back at the WTO and exploring retaliatory options, sees these duties as de facto safeguard measures that violate trade norms and threaten its ambitions in global auto supply chains, especially for EV components.
Cabinet approves two multitracking projects for Indian Railways (mint)
The Union Cabinet has cleared two key railway multi-tracking projects worth ₹6,405 crore across Jharkhand, Karnataka, and Andhra Pradesh, aimed at boosting freight movement, job creation (10.8 million human-days), and infrastructure expansion by 318 km, covering 1,408 villages. These projects, part of the PM-Gati Shakti Master Plan, are expected to carry an additional 49 million tonnes of freight annually, reduce oil imports by 520 million litres, and cut CO2 emissions by 2.6 billion kg, driving down logistics costs and enhancing India’s export competitiveness. In its third term, the Modi-led government has sanctioned 27 rail projects worth ₹96,311 crore, signalling a decisive infrastructure push with environmental, economic, and connectivity dividends.
Piyush Goyal sets TEPA roadmap, urges Swiss industry to tap India’s growth (mint)
Commerce Minister Piyush Goyal, during his visit to Switzerland, outlined a strategic action plan to implement the India-EFTA Trade and Economic Partnership Agreement (TEPA), with a focus on innovation, regulatory cooperation, and skill development as pillars of future collaboration. In high-level talks with Swiss officials, both sides emphasized mechanisms for faster investment flow and stronger industrial synergies, especially in precision engineering and advanced manufacturing. The EFTA bloc, comprising Switzerland, Norway, Iceland, and Liechtenstein, has committed $100 billion in investments and aims to generate one million direct jobs in India over the next 15 years, positioning the TEPA as a transformative trade pact.
