Skip to content
Search

Latest Stories

India Inc expects 'mini' deal during Trump visit

INDIA INC expects tangible outcomes from US President Donald Trump's maiden Indian visit later this month, including a bilateral "mini" trade deal and higher investment commitments from American companies, industry groups said on Sunday (16).

The two countries are negotiating a trade package to iron out certain issues and promote two-way commerce.


India is demanding exemption from high duties imposed by the US on certain steel and aluminium products, resumption of export benefits to certain domestic products under the Generalised System of Preferences, and greater market access for its products from sectors like agriculture, automobile, auto components and engineering.

On the other hand, the US wants greater market access for its farm and manufacturing products, dairy items and medical devices, data localisation, and cut on import duties on some information and communication technology (ICT) products. The US has also raised concerns over high trade deficit with India.

"Expectations remain high on achieving a bilateral 'mini' trade deal, which hopefully lays the foundation for a more comprehensive economic partnership.

"As Indian industry enhances its investment and job creation in the US, we expect an interaction of President Trump with leading Indian companies operating in the US," Confederation of Indian Industry (CII) Director General Chandrajit Banerjee said.

"Trade negotiators from India and the US have been working hard to add value to the bilateral economic engagement, leveraging on their mutual advantages. As Prime Minister Narendra Modi hosts Trump to a national reception, the two leaders would give a decisive lift to bilateral ties," Associated Chambers of Commerce of India Secretary-General Deepak Sood said.

At the invitation of Prime Minister Modi, Trump is slated to travel to India on February 24 and 25. According to sources, Trump will meet the country's top business leaders here on February 25 in a bid to push for deeper trade and business ties.

A CEOs’ round-table will be organised to facilitate a meeting between the US President and corporate honchos in the national capital. Senior bureaucrats are also expected to attend the meeting, besides top executives from American corporations.

Leaders including Reliance Industries CMD Mukesh Ambani, Bharti Airtel Chairman Sunil Bharti Mittal, Tata Sons Chairman N Chandrasekaran, Mahindra Group Chairman Anand Mahindra, Larsen and Toubro Chairman A M Naik and Biocon CMD Kiran Mazumdar Shaw are expected to attend the round-table meeting with Trump, one of the sources said, adding that the US Embassy in New Delhi is coordinating the event while the list of attendees has been shared with the White House for clearance.

Research by CII shows that at least 100 Indian companies have invested nearly $18 billion and created over 113,000 jobs in the US.

"There have been several recent announcements by Indian companies, that have shown the growing impact Indian investment can have on US economy and society, and we fully expect that to increase. Likewise we expect even higher investment commitments from US companies into India," Banerjee observed.

"Most of the Fortune 500 US companies have an overwhelming presence in India, while leading Indian corporates in manufacturing and services have expanded their foothold across the US market. When it comes to goods, the US is finding greater market access in India, as is reflected in the trade data," Sood said.

In 2018-19, India's exports to the US stood at $52.4 billion, while imports were $35.5 billion. Trade deficit dipped from $21.3 billion in 2017-18 to $16.9 billion in 2018-19.

India received FDI worth $3.13 billion from the US in 2018-19, higher than $2 billion in 2017-18.

More For You

Modi & Trump

Donald Trump and Narendra Modi shake hands as they attend a joint press conference at the White House on February 13, 2025.

Reuters

India, US to discuss trade issues after tariff hike

INDIA and the United States will hold trade discussions in New Delhi on Tuesday, officials and Indian media reports said, as the two countries look to resolve a tariff dispute.

India currently faces high US tariffs on most of its exports and has not yet been able to reach a trade deal that would ease the pressure.

Keep ReadingShow less
Piyush Goyal

Piyush Goyal recalled that in February, Narendra Modi and Donald Trump had instructed their trade ministers to conclude the first phase of the bilateral trade agreement (BTA) by November 2025. (Photo: Getty Images)

Getty Images

Trade talks with US moving forward positively, says Indian minister Goyal

INDIA’s commerce and industry minister Piyush Goyal on Thursday said that negotiations on the proposed trade agreement between India and the United States, which began in March, are progressing in a positive atmosphere and both sides are satisfied with the discussions.

He recalled that in February, Indian prime minister Narendra Modi and US president Donald Trump had instructed their trade ministers to conclude the first phase of the bilateral trade agreement (BTA) by November 2025.

Keep ReadingShow less
Baiju Bhatt

At 40, Bhatt is the only person of Indian origin in this group, which includes figures such as Meta’s Mark Zuckerberg. (Photo: Getty Images)

Baiju Bhatt named among youngest billionaires in US by Forbes

INDIAN-AMERICAN entrepreneur Baiju Bhatt, co-founder of the commission-free trading platform Robinhood, has been named among the 10 youngest billionaires in the United States in the 2025 Forbes 400 list.

At 40, Bhatt is the only person of Indian origin in this group, which includes figures such as Meta’s Mark Zuckerberg. Forbes estimates his net worth at around USD 6–7 billion (£4.4–5.1 billion), primarily from his roughly 6 per cent ownership in Robinhood.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London. (Photo: Getty Images)
Getty Images

Economy shows no growth in July amid political turbulence

UK's ECONOMY showed no growth in July, according to official data released on Friday, adding to a difficult week for prime minister Keir Starmer’s government.

The Office for National Statistics (ONS) said gross domestic product was flat in July, following a 0.4 per cent rise in June.

Keep ReadingShow less
India’s IT sector

India’s $283 billion IT industry, which contributes more than 7 per cent to the country’s GDP, has for over three decades provided services to major clients including Apple, American Express, Cisco, Citigroup, FedEx and Home Depot.

iStock

India’s IT sector faces uncertainty as US proposes 25 per cent outsourcing tax

INDIA’s IT sector is facing uncertainty as US lawmakers consider a 25 per cent tax on companies using foreign outsourcing services.

Analysts and lawyers said the proposal has led to customers delaying or re-negotiating contracts, raising concerns in India, the world’s largest outsourcing hub.

Keep ReadingShow less