Conclusion of India-Asean FTA review likely by October (Financial Express)
Despite uneven progress, India and ASEAN are aiming to conclude the long-delayed review of their goods trade agreement (AITIGA) by October 2025, with two negotiation rounds planned — one in New Delhi and another in Malaysia. India has long sought revisions after trade imbalances emerged under the 2010 pact, under which it cut tariffs on 71% of goods, while key ASEAN members like Indonesia and Thailand reduced duties on significantly fewer products (41% and 67%, respectively). While talks have been slow, recent momentum has focused on customs cooperation, SPS/TBT issues, and market access, with hopes of achieving meaningful changes ahead of the ASEAN-India Summit.
Jaishankar flags Pahalgam attack at SCO meet in China, calls for zero tolerance on terrorism (Financial Express)
During the SCO Council meetings in China, External Affairs Minister S. Jaishankar condemned the Pahalgam terror attack, calling it a calculated attempt to damage Jammu and Kashmir’s tourism economy and incite communal tensions, while urging member states to stay committed to counterterrorism efforts. Against the backdrop of his first visit to China since the 2020 Galwan clashes, he emphasized that the SCO must take an uncompromising stand against terrorism, separatism, and extremism — the three core threats it was founded to fight. He also highlighted growing global instability and called for deeper regional cooperation and trust to navigate economic uncertainty and an increasingly multipolar world.
Isma urges Centre to ban ethanol imports, flags ₹40,000 crore risk (Business Standard)
The Indian Sugar and Bio-Energy Manufacturers Association (ISMA) has urged the government to block ethanol imports for fuel use, cautioning that such a move—being pushed under India-US trade talks—could derail over ₹40,000 crore in domestic investments and hurt payments to sugarcane farmers. India’s ethanol blending in petrol has already reached 19% and is set to hit the 20% target by the end of the 2024-25 supply year, a full year ahead of schedule, thanks to policy support and tight import controls. ISMA warned that opening the market to US grain-based ethanol could undercut domestic producers, stall job creation, and reverse recent capacity gains of over 140% since 2018.
India adopts wait-and-watch approach amid US tariff uncertainty (mint)
India is adopting a cautious, wait-and-watch approach as the US plans to impose new tariffs on goods from around 25 countries—including potentially India—starting August 1, though the full scope and timeline remain unclear. Officials highlighted that while sectors like steel, aluminium, and auto parts are in focus globally, key Indian exports such as electronics, textiles, gems, rice, and spices could also be affected, echoing concerns from earlier US tariff actions that impacted up to 87% of Indian exports. Despite the uncertainty, India’s export performance remains steady, and officials emphasized ongoing engagement with US counterparts and industry stakeholders to adapt strategies as the situation evolves.
