International Trade

Summary: With the India–EU FTA proceeding towards finalisation, both economies now have an opportunity to prepare for sweeping tariff cuts, new market access, and revised compliance obligations before the agreement is finally concluded. The blog sets out the key provisions of the FTA, particularly those related to the automotive, agri-food, financial services, and IP-sensitive sectors, so that businesses can start reviewing supply chains, contracts, and market-entry strategies.

Continue Reading The India–EU Free Trade Agreement: A Landmark Deal Moves Toward Finalisation

Summary: Prime Minister Narendra Modi undertook a landmark visit to the Nordic region from May 17-19, 2026, as part of a broader five-nation European tour that also encompassed the UAE, the Netherlands, and Italy. The visit marked the first time an Indian Prime Minister had travelled to Norway in over four decades. In Sweden, the two countries elevated bilateral relations to a Strategic Partnership and adopted a Joint Action Plan for 2026-2030, focusing on economic and security resilience, emerging technologies, trusted connectivity, and sustainability-linked cooperation. In Norway, India and Norway elevated their bilateral relationship to a Green Strategic Partnership, marking a major expansion of cooperation across climate technology, renewable energy, maritime economy, digital systems, and innovation. At the 3rd India-Nordic Summit in Oslo, India and the Nordic countries decided to elevate their relationship to a Green Technology and Innovation Strategic Partnership. The visit signals India’s determination to build future-oriented partnerships across Europe’s northern frontier.

Continue Reading Pushing Boundaries: India and Nordic Region Forge Ahead with Strategic, Economic, and Green Collaboration
Falling Tariffs & Expanding Horizons: India, US Strike a New Chord

The India-United States economic relationship has often been described as one of considerable promise, constrained by structural hesitation. For decades, the two democracies traded enthusiastically without ever creating a comprehensive framework to anchor that commerce. Now, with negotiations around an India-US Free Trade Agreement (“FTA”) gaining renewed intensity, coupled with the unconventional and transactional approach adopted by the Trump administration, the conversation has shifted from whether such a pact is possible to how transformative it could be.

Continue Reading Falling Tariffs & Expanding Horizons: India, US Strike a New Chord
Geopolitical Destiny: The Direction of Indian Strategic Autonomy

Summary: Amidst increasing geopolitical risk globally, India may need to assess its current ‘strategic autonomy’ approach to multi-alignment. This article examines the relationship between India and the US, explores a potential Middle Powers strategy premised on India’s alignment with Europe, and underscores the importance of India strengthening its engagement with the Global South to achieve its geopolitical ambitions amidst shifting global dynamics.

Continue Reading Geopolitical Destiny: The Direction of Indian Strategic Autonomy
Navigating New Horizons: India and UAE Trade Partnership

Background

India is quickly emerging as a major force in global commerce as it continues to strengthen trade relationships with other nations. The United Arab Emirates (UAE) is one such nation with whom India shares strong commercial ties built on the principles of strategic partnership and reciprocal prosperity.

Continue Reading Navigating New Horizons: India and UAE Trade Partnership
India-Korea: Building Blocks for $50-Billion Bilateral Trade by 2030 & Other Investments

While the Korean Wave or ‘Hallyu’, referring to the global popularity (including India) of K everything may seem like a recent phenomenon, the year 2024 marks the 51st anniversary of diplomatic relations between the two countries. According to the India Brand Equity Foundation, bilateral trade between India and Korea grew by 21.46% to $27.8 billion in 2022-23. South Korea is one of India’s largest Foreign Direct Investment (“FDI”) contributors, having invested $5.78 billion in key sectors such as metallurgy, automobiles, and electronics from April 2000 to December 2023.[1] With continuing and strengthening economic ties, both countries continue to remain bullish with the aim to reach $50 billion in bilateral trade by 2030. 

Continue Reading India-Korea: Building Blocks for $50-Billion Bilateral Trade by 2030 & Other Investments

GOODBYE CHINA; HELLO INDIA

The noise around large companies shifting their manufacturing bases out of China has gotten shriller with the advent of Covid-19 related disruption. The theme is not new. Since the trade war between the United States and China, much has been written about companies shifting their operations from China to other South East Asian countries such as Vietnam, Thailand and Taiwan. India is hopeful of getting it right this time around and is competing with other South East Asian countries in rolling out the red carpet to companies exiting China. In anticipation of any announcements that may be made by the Government in this regard, this article examines some of the key factors that are relevant for companies contemplating a shift to India.
Continue Reading Goodbye China; Hello India

Framework for OFAC Compliance Commitments

The past year has witnessed a massive increase in sanctions-related enforcement activity and has indeed caused a stir in the global sanctions landscape. Under the new administration, the US re-imposed all nuclear-related sanctions on Iran, culminating in the largest ever single set of sanctions designations to date.

With the heightened global regulatory environment and the aggressive stance of enforcement agencies, it has been made rather clear that sanctions laws can no longer be ignored. Moreover, in an attempt to bring clarity to compliance expectations of the sanctions regime in the US, on May 02, 2019, the Office of Foreign Assets Control (OFAC) published the Framework for OFAC Compliance Commitments (Framework). The Framework sets out OFAC’s key considerations for evaluating the efficacy of a sanctions compliance programme (SCP) and in turn determining whether mitigation of civil monetary penalties ought to be granted.
Continue Reading Are You Ready to Make a Commitment? A Glimpse into the Newly Introduced OFAC Compliance Commitments

Trade Remedy Measures Against Solar Cells An Update

As anticipated in our last blog on this subject , solar cells continue to be at the heart of to-and-fro trade remedy measures being undertaken by various countries. The Government of India has fired the most recent salvo by notifying the imposition of safeguard duty on solar cells through the Department of Revenue, Ministry of Finance.

The termination of the anti-dumping investigation by the Directorate General of Anti-dumping and Allied Duties (DGAD) may have allowed a temporary sigh of relief to those rooting for exports. But that has been largely offset because of the safeguard duty investigation by the Directorate General of Safeguards (DGS).

The safeguard duty investigation was initiated based on a petition filed by the Indian Solar Manufacturers Association (ISMA) with the DGS requesting imposition of a safeguard duty on imported solar cells from China, Malaysia, Singapore and Taiwan.Continue Reading Trade Remedy Measures Against Solar Cells: An Update