India, UAE to start settling trade in local currencies soon (Financial Express)
India and the UAE are advancing their economic partnership by finalising plans to settle bilateral trade in local currencies, integrate their payment systems, and even cooperate on central bank digital currencies, which would make cross-border transactions smoother, faster, and less dependent on the US dollar. Beyond financial integration, both sides reviewed progress on large-scale investments such as Bharat Mart, a 2.7 million square foot hub in Dubai’s Jebel Ali Free Zone designed to showcase Indian products to global markets, while also identifying future areas of cooperation in maritime, space, and other strategic sectors. With non-oil trade already rising 34% in the first half of 2025 and the long-term target of $100 billion by 2030 in sight, both countries stressed their commitment to resolving investor challenges quickly, building on the momentum of their 2022 trade pact, and strengthening a partnership that is increasingly central to regional and global commerce.
'Hoped for more progress' in talks with India, says EU trade chief (Business Standard)
The EU and India are racing against a December deadline to seal a free-trade agreement, but progress has been slower than expected, with tough negotiations continuing over sensitive areas like automobiles, agriculture, and alcoholic beverages, alongside disputes over non-tariff barriers such as environmental norms and quality controls. Despite these hurdles, both sides reaffirmed their commitment at the highest levels, with European leaders stressing shared values and India seeking greater access to Europe’s vast market, especially as tensions with the US push New Delhi to diversify its trade ties. While some chapters on regulatory practices, customs, intellectual property, and digital trade have been wrapped up, the sticking points remain politically sensitive, making the coming rounds of talks in Brussels crucial to achieving the ambitious target of concluding the deal by year’s end.
Tariff issue with US may be resolved in 8-10 weeks: CEA Nageswaran (Business Standard)
India’s Chief Economic Advisor said talks with Washington are quietly moving forward and a resolution to the steep US tariffs on Indian goods could come within two months, offering relief after exports fell sharply in August under the 50% levy. The penalties imposed by President Trump over India’s continued purchase of Russian oil have strained trade ties, even though services exports have partly cushioned the blow and kept the overall deficit from widening further. With Trump and Prime Minister Modi recently warming up through direct calls and renewed dialogue, negotiators are preparing for fresh talks this week, fueling optimism that the two sides can reset relations and stabilise their crucial trade partnership.
