logo
India always ready to conclude trade pact with low hanging fruits: Piyush Goyal on US trade deal

India always ready to conclude trade pact with low hanging fruits: Piyush Goyal on US trade deal

Time of Indiaa day ago

India is prepared to finalise a trade agreement with the US by first addressing low-hanging fruits, Commerce Minister
Piyush Goyal
said on Monday on the proposed bilateral trade pact.
The remarks assume significance as the US team is in New Delhi for the trade talks with their Indian counterparts. The week-long deliberations will conclude on June 10.
Goyal is on an official visit to meet Swiss leaders and businesses here.
When asked if something can be concluded before July 9, he said: "I am a born optimist".
It is not necessary to wait for every issue in a trade agreement to be resolved, he added.
Live Events
When asked if it will be low-hanging fruits, he said, "India is always ready for that and I believe that" the things, which are not controversial, the low-hanging fruits, should be captured first as those sectors will start getting profits.
It is not necessary to wait for everything and why waste time until it is perfect, he said.
Citing an example of the trade agreement with Australia, he said both countries implemented an interim trade deal and are now negotiating to widen its scope.
The US team is in New Delhi for the next round of negotiations on the proposed
bilateral trade agreement
and the talks are progressing well.
In February, US President Donald Trump and Prime Minister Narendra Modi announced plans to negotiate the first tranche or phase of a mutually beneficial multi-sector Bilateral Trade Agreement (BTA) by fall (September-October) of 2025.
It is aimed at more than doubling the bilateral trade to USD 500 billion by 2030 from the current level of USD 191 billion.
Goyal is here on an official visit to hold talks with Swiss leaders and business representatives to boost trade and investments.
The visit of the US official team gains importance as India and America are likely to agree on an
interim trade agreement
by the end of June, with New Delhi pushing for full exemption from the 26 per cent reciprocal tariff on domestic goods. The US has suspended the proposed tariffs till July 9.
There are expectations that an interim rate deal could be finalised before that.
India's chief negotiator, Special Secretary in the Department of Commerce Rajesh Agrawal, had concluded his four-day visit to Washington last month.
He held talks with his US counterpart on the proposed agreement.
Goyal was also in Washington to give an impetus to trade talks.
The US remained India's largest trading partner for the fourth consecutive year in 2024-25, with bilateral trade valued at USD 131.84 billion.
The US accounts for about 18 per cent of India's total goods exports, 6.22 per cent in imports, and 10.73 per cent in the country's total merchandise trade.
Economic Times WhatsApp channel
)

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

India's population hits 1.46 bn, sees decline in fertility rate
India's population hits 1.46 bn, sees decline in fertility rate

Hans India

time12 minutes ago

  • Hans India

India's population hits 1.46 bn, sees decline in fertility rate

New Delhi: India's population is estimated to reach 1.46 billion in 2025, continuing to be the highest in the world, according to a new UN demographic report, which also revealed the country's total fertility rate has fallen below the replacement rate. UNFPA's 2025 State of World Population (SOWP) Report, The Real Fertility Crisis, calls for a shift from panic over falling fertility to addressing unmet reproductive goals. Millions of people are not able to realise their real fertility goals, it asserts. This is the real crisis, not underpopulation or overpopulation, and the answer lies in greater reproductive agency - a person's ability to make free and informed 150 per cent choices about sex, contraception and starting a family, it says. The report also reveals key shifts in population composition, fertility, and life expectancy, signalling a major demographic transition. The report found that India's total fertility rate has declined to 1.9 births per woman, falling below the replacement level of 2.1. This means that, on average, Indian women are having fewer children than needed to maintain the population size from one generation to the next, without migration. Despite the slowing birth rate, India's youth population remains significant, with 24 per cent in the age bracket of 0-14, 17 per cent in 10-19, and 26 per cent in 10-24. The country's 68 per cent of the population is of working age (15-64), providing a potential demographic dividend, if matched by adequate employment and policy support. The elderly population (65 and older) currently stands at seven per cent, a figure that is expected to rise in the coming decades as life expectancy improves. As of 2025, life expectancy at birth is projected to be 71 years for men and 74 years for women. According to the UN estimates, India's population at present stands at 1,463.9 million. India is now the world's most populous nation, with nearly 1.5 billion people – a number expected to grow to about 1.7 billion before it begins to fall, around 40 years from now, the report said. Behind these numbers are the stories of millions of couples who decided to start or expand their families, as well as the stories of women who had few choices about whether, when or how often they became pregnant, the report said. In 1960, when India's population was about 436 million, the average woman had nearly six children. Back then, women had less control over their bodies and lives than they do today. Fewer than 1 in 4 used some form of contraception, and fewer than 1 in 2 attended primary school (World Bank Data, 2020), the report said. But in the coming decades, educational attainment increased, access to reproductive healthcare improved, and more women gained a voice in the decisions that affected their lives. The average woman in India now has about two children. While women in India, and every other country, have more rights and choices today than their mothers or grandmothers did, they still have a long way to go before they are empowered to have the number of children they want, if any, when they want them. The UN report placed India in a group of middle-income countries undergoing rapid demographic change, with population doubling time now estimated at 79 years. "India has made significant progress in lowering fertility rates – from nearly five children per woman in 1970 to about two today, thanks to improved education and access to reproductive healthcare," said Andrea M Wojnar, UNFPA India Representative. This has led to major reductions in maternal mortality, meaning millions more mothers are alive today, raising children and building communities. Yet, deep inequalities persist across states, castes, and income groups. "The real demographic dividend comes when everyone has the freedom and means to make informed reproductive choices.'

India's Birth Rate Hits Historic Low – What It Really Means For The Future
India's Birth Rate Hits Historic Low – What It Really Means For The Future

India.com

time17 minutes ago

  • India.com

India's Birth Rate Hits Historic Low – What It Really Means For The Future

New Delhi: In a country that once worried about having too many mouths to feed, a quieter and more unexpected concern is now surfacing. Indian families are choosing to have fewer children, and it is starting to show. A recent UN report reveals that India's fertility rate has dipped below the replacement level, meaning that, on average, women are now having fewer children than needed to maintain the population size over time. While the total population is still growing and currently stands at 1.46 billion (the largest in the world), the nature of that growth is changing. So what is happening, and why should you care? Back in 1960, the average Indian woman had nearly six children. At that time, India was grappling with rapid population growth, limited access to education for women and almost no reproductive healthcare. Fast forward to today. The average woman now has fewer than two children. According to the UNFPA's State of World Population 2025 report, India's total fertility rate has fallen to 1.9, below the 'replacement rate' of 2.1 – the threshold needed for a stable population without migration. This is a important milestone. It means that India is now part of a global shift that is quietly reshaping societies, fewer babies, aging populations and a new set of economic and social challenges. Not a Crisis The UN is not calling this a crisis. In fact, it warns against the fear-driven headlines about 'population collapse'. What is more urgent, the report argues, is the unmet desire of millions of people who still do not have the power to decide if, when or how many children they want. In simple terms – this is not only about numbers. It is about choice. As Andrea Wojnar, UNFPA's India head, puts it, 'The real demographic dividend comes when everyone has the freedom and means to make informed reproductive choices.' Despite falling birth rates, India still has one of the youngest populations in the world – nearly a quarter of its citizens are under 14 and two-thirds are of working age. This is both an opportunity and a responsibility. With the right investments in jobs, education and healthcare, India could harness this 'youth bulge' for massive economic growth. But it is a narrow window. As life expectancy rises (now 74 for women, 71 for men), the proportion of elderly citizens will grow too. In the coming decades, India will face a very different problem – how to care for an aging population without enough younger workers to support them. What's Behind the Shift? The drop in fertility did not happen overnight. It is the result of decades of progress – better education for girls, wider access to contraception, urbanization and changing social norms. More women are staying in school, working and making decisions about their lives. That empowerment, experts say, is what is really driving the change. Still, the report warns that inequality runs deep. In some states and communities, access to reproductive healthcare remains limited. Many women, especially in rural or low-income areas, still have little say in reproductive decisions. India is not alone in facing these changes. Many countries, from South Korea to Spain, are seeing similar patterns – fewer births, smaller families and longer lives. The takeaway? Falling fertility is not failure. It is a sign that more people are making decisions on their own terms. The real challenge now is making sure that freedom extends to everyone, regardless of where they live, what they earn or who they are.

SP Group offers $3.4 billion NCDs to HNI investors amid market volatility
SP Group offers $3.4 billion NCDs to HNI investors amid market volatility

Economic Times

time19 minutes ago

  • Economic Times

SP Group offers $3.4 billion NCDs to HNI investors amid market volatility

Mumbai: Wealth managers are offering Shapoorji Pallonji Group's latest $3.4 billion (₹28,500 crore) non-convertible debentures to high-net-worth individuals, but only to those willing to invest a minimum of ₹10 crore in the secondary market. ADVERTISEMENT A small portion of the debentures, originally placed with institutional investors at a yield of 19.75%, is being sold down to wealthy clients at yields of 18.0-18.5%, allowing distributors to pocket a spread of up to 175 basis points (1.75 percentage point). During group firm Goswami Infratech's ₹14,300 crore fundraising in 2023, the bonds saw secondary market volatility as smaller HNIs flipped their positions when market sentiment turned. At one point, the debentures originally issued at a yield of 18.75% were trading at as high as 22%, following a covenant breach and a fall in perception, even before any material credit deterioration. The latest NCD offering, being an unrated and unlisted tranche, comes with much less disclosure, information and compliance obligations compared to the previous, exchange-listed tranches."Last time, a lot of HNIs panicked and exited too quickly," said a wealth manager. "It spooked the market and distorted the credit story. This time, they have raised the bar to ₹10 crore, and they are filtering for patient capital."The group has also avoided a wide domestic HNI distribution this time. Wealth managers say the allocations to Indian individuals are a fraction of the ₹28,500 crore transaction. ADVERTISEMENT Experts have been concerned over affluent and mass-affluent segments getting into credit often without a full understanding of the risks. "Private credit is not for everyone," said Nachiket Naik, head of private credit Axis Asset Management. "Family offices come through funds that do deep diligence. But direct HNI participation, especially via digital platforms, is a different beast." Cases like BluSmart, an early-stage mobility platform that raised funds from HNIs via listed NCDs, have led to caution among investors. (You can now subscribe to our ETMarkets WhatsApp channel)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store