Active negotiations on with over dozen countries for finalising bilateral investment treaties: Official (The Economic Times)
India is actively negotiating Bilateral Investment Treaties (BITs) with over a dozen countries—including Saudi Arabia, Qatar, Israel, Oman, European Union, Switzerland, Russia, Australia, Tajikistan, Cambodia, Uruguay, Maldives, and Kuwait—as part of efforts to strengthen its position as a global investment destination. With Foreign Direct Investment (FDI) crossing the USD 1 trillion mark between April 2000 and March 2025 and USD 81 billion recorded in the last fiscal alone, the government is revamping its BIT framework to align with international standards while protecting domestic policy space; two new BITs were signed in 2024, and implementation began with the UAE and Uzbekistan last year. India has also reduced the local legal remedy period from five to three years in some cases, as in the India-UAE BIT 2024, and views these treaties not just as legal safeguards but as strategic economic tools to attract more inflows into key sectors like services, IT, telecom, automobiles, and pharmaceuticals.
Fresh plan in the works to promote Indian ships for higher cargo share (The Economic Times)
India is preparing a new policy to boost domestically-flagged shipping as its current ₹1,624 crore subsidy scheme, launched in 2021, has delivered limited results—only ₹330 crore disbursed so far, with Indian ships still carrying just 8% of import cargo. To address this, the government is coordinating with the petroleum, steel, and fertiliser ministries to build around 200 new Indian ships (8.6 million Gross Tonnage) worth ₹1.3 lakh crore, which will be jointly owned by public sector firms and constructed in local shipyards. Despite Indian ports handling 1,540 MMT of cargo in 2023–24 (a 7.5% increase), domestic shipping lines face 20% higher operational costs due to taxes, regulatory burdens, and lack of parity with foreign competitors, leading to a $70 billion annual forex outgo.
India, US could reach mini trade deal in 48 hours; ‘ball now in Washington’s court’ (Financial Express)
India and the US are on the verge of finalising a mini trade deal ahead of the July 9 deadline set by President Trump, which also marks the end of a 90-day pause on steep Trump-era tariffs—such as the 26% additional duty on Indian goods and existing 10% tariffs that still apply. While both sides have agreed on the core terms of the deal, India has held firm on protecting sensitive sectors like agriculture and dairy, even as it seeks better access for labour-intensive exports like textiles, leather, and jewellery. If concluded, the deal would not only defuse the threat of renewed tariffs but also lay the groundwork for broader trade negotiations, though key issues like US tariffs on Indian steel (50%) and automobiles (25%) remain unresolved.
