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India-US trade deal: ‘Talks are happening at different levels’, says official; Piyush Goyal-led team expected to return this week – The Times of India
India-US trade deal: At a time when Commerce minister Piyush Goyal is in America, an official has said that the trade deal talks between India and US are happening at various levels.“Talks are happening at different levels,” an official told PTI. The official indicated that the ministerial delegation is scheduled to return later this week. Multiple discussions between India and the US are ongoing, addressing both trade and non-trade matters, according to the official.Currently in the US for trade discussions, Piyush Goyal is joined by high-ranking ministry officials, including special secretary and chief negotiator Rajesh Agrawal. During his visit, Goyal has engaged in consultations with his American counterpart.This visit follows recent discussions in New Delhi between US Chief Negotiator Brendan Lynch and Agrawal regarding the proposed bilateral trade agreement.On September 16, the commerce ministry announced that the single-day discussions with the visiting US delegation about a bilateral trade deal were constructive, with both countries agreeing to work towards a swift and advantageous conclusion of the agreement.Senior US trade officials visited India for the first time following the implementation of a combined 50% tariffs on Indian goods in the American market, partly due to India’s procurement of Russian crude oil.Officials from both nations began negotiations for a proposed Bilateral Trade Agreement (BTA) in February this year, following directives from their respective leaders.The initial phase of the agreement was scheduled for completion in autumn (October-November) of 2025, with five rounds of discussions already completed. The agreement aims to increase bilateral trade from $191 billion to $500 billion by 2030.Earlier in May, Goyal travelled to Washington for trade discussions and held meetings with US Commerce Secretary Howard Lutnick.In 2024-25, the US maintained its position as India’s primary trading partner for the fourth successive year, with bilateral trade reaching $131.84 billion (USD 86.5 billion exports).The US represents approximately 18 per cent of India’s total goods exports, 6.22 per cent of imports, and 10.73 per cent of the country’s overall merchandise trade.
Business
India’s Forex Reserves Surge $4.36 Billion To $693 Billion, Gold Holding Rises $2.6 Billion
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India’s Latest Forex Reserves: The value of the gold reserves jumps $2.623 billion to $110.365 billion during the week ended December 19.
India’s Latest Forex Reserves.
India’s foreign exchange (forex) reserves surged $4.368 billion to $693.318 billion during the week ended December 19, according to the latest data from the Reserve Bank of India (RBI). The value of the gold reserves jumped $2.623 billion to $110.365 billion during the week.
The overall kitty had increased by $1.689 billion to $688.949 billion in the previous week.
For the week ended December 19, foreign currency assets, a major component of the reserves, increased by $1.641 billion to $559.428 billion, according to the Reserve Bank of India’s latest ‘Weekly Statistical Supplement’ data.
Expressed in dollar terms, the foreign currency assets include the effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in the foreign exchange reserves.
The special drawing rights (SDRs) were up by $8 million to $18.744 billion.
India’s reserve position with the IMF was up by $95 million to $4.782 billion in the week, according to the RBI data.
The price of the safe-haven asset gold has been on a sharp uptrend over recent months, perhaps amid heightened global uncertainties and robust investment demand.
After the last monetary policy review meeting, the RBI had said that the country’s foreign exchange reserves were sufficient to cover more than 11 months of merchandise imports. Overall, India’s external sector remains resilient, and the RBI is confident it can comfortably meet external financing requirements.
In 2023, India added around $58 billion to its foreign exchange reserves, contrasting with a cumulative decline of $71 billion in 2022. In 2024, reserves rose by just over $20 billion. So far in 2025, the forex kitty has increased by about $47-48 billion, according to data.
Foreign exchange reserves, or FX reserves, are assets held by a nation’s central bank or monetary authority, primarily in reserve currencies such as the US dollar, with smaller portions in the Euro, Japanese Yen, and Pound Sterling.
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December 27, 2025, 08:17 IST
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MUMBAI: The Irdai on Friday, fined Reliance General Insurance Rs 1 crore in Hyderabad for routing unauthorised payouts through marketing and awareness expenses that amounted to disguised commissions. The penalty follows Irdai’s examination of transactions across FY19, FY20 and FY21. According to the regulator, the insurer channeled payments to brokers, agents, corporate agents and unlicensed entities under labels such as consumer awareness, marketing and advertising.
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ISLAMABAD:
Pakistan has registered 144 olive startups as part of a decade-long government initiative aimed at developing the olive sector.
Olive Promotional Programme National Project Director Dr Muhammad Tariq told Wealth Pakistan that the sector had recorded rapid growth over the past 10 years due to sustained government backing.
“Ten years ago, when the government started this programme, we had only one entrepreneur. Today, we have 144 startups and entrepreneurs. It is a very fast-growing sector,” he said.
Tariq noted that the government’s continued support had played a central role in transforming the olive sector into a viable agro-industry. The federal minister for national food security has also taken steps to strengthen the sector by pursuing Pakistan’s full membership at the International Olive Council. “Hopefully, there will be progress within three months,” he said.
India’s Forex Reserves Surge $4.36 Billion To $693 Billion, Gold Holding Rises $2.6 Billion
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Irdai fines Reliance General Insurance over ‘commission’ – The Times of India
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