Page 10 - India Trade

Bangladesh unrest not likely to impact India's overall trade balance: S&P

India is a well diversified exporter and a blip in its exports to Bangladesh is unlikely to have any meaningful impact on India's overall trade position for the full year, S&P Global Ratings said on Tuesday. Bangladesh is facing its worst political crisis since independence in 1971, with Prime Minister Sheikh Hasina resigning amid massive anti-government protests. Bangladesh Army Chief General Waqar-uz-Zaman on Monday announced that an interim government would be taking over the responsibilities. S&P Global Ratings, Director, Sovereign and International Public Finance Ratings (Asia-Pacific), Andrew Wood said that S&P expects domestic demand conditions in Bangladesh in this period of time to be weak and probably going to entail less support for exports from other countries, including India, into Bangladesh. "India is a well diversified exporter to the entire world and its trade profile is significantly larger than bilateral trade relationships with economies like ...

Amid high trade, India-Russia ties slow on investments, remittances

New trade target of $100 billion

Indian refiners likely saved at least $10 bn due to discounted Russian oil

Russia started offering its crude at discounted prices after the Western nations imposed cuts on their oil imports from Moscow in a bid to put pressure on the Russian economy over the Ukraine war

India, Taiwan pact to facilitate trade of agri goods comes into force

An agreement between India and Taiwan to facilitate trade in organically-produced goods, including tea and medicinal plants, has come into force from July 8, the commerce ministry said on Wednesday. The mutual recognition agreement (MRA) will ease the export of organic products by avoiding dual certifications, thereby reducing compliance cost, simplifying compliance requirements by adhering to only one regulation and enhancing trade opportunities in the organic sector. It said the pact will pave the way for export of major Indian organic products such as rice, processed food, green/black and herbal tea, medicinal plant products to Taiwan. The implementing agencies for the MRA are India's Agricultural and Processed Food Products Export Development Authority (APEDA) and Taiwan's Agriculture and Food Agency. "The MRA for organic products between India and Taiwan has been implemented w.e.f. July 8," it said in a statement. Under the pact, agricultural products produced and handled ...

India likely to get coking coal from Mongolia on Trial basis in July

The supplies would come to India via Chinese ports, but Indian authorities do not think New Delhi should entirely rely on China for steady supplies of coking coal from Mongolia, the sources said

PM Modi's Russia visit begins on July 8: Trade, tariff likely on agenda

Issue of 'imbalanced' trade will be priority during talks with Russia

International toy fair to begin on July 6 with over 100 foreign buyers

More than 300 domestic companies and over 100 foreign buyers from the US, Germany and other countries are expected to participate in the four-day international toy fair beginning on July 6 in the national capital, a statement said on Tuesday. More than 250 Indian brands will display their products during the fair, which is being organised at Pragati Maidan here, Toy Association of India senior vice-president Naresh Kumar Gautam said in the statement. Gautam said that the 15th Toy Biz International B2B Expo 2024 is the largest fair in South Asia. "It is a big platform for Indian toy makers to showcase their products and capabilities to the global audience. It helps us attract new customers and partners, expand market reach for our toys and boost exports," he said. In addition, he said, Toy Biz also provides a platform for industry players to network and connect with each other, which can help foster collaborations, partnerships and joint ventures. Gautam, who is also the CEO of ...

Commerce ministry developing platform for registration, resolution of NTB's

The commerce ministry is developing a platform for registering non-tariff barriers (NTBs) faced by exporters and taking up with the concerned countries for their resolution, a senior official said. At present, there is an information gap on these barriers particularly for small items. "We are making a portal so that we can prioritise all the NTBs. Traders will register their complaints and the ministry will pursue that," the official said. In cases where the barrier is impacting a large volume of goods will be prioritised for their redressal and action-taking. Economic think tank GTRI in its report has stated that India needs to act in a fast-track manner for the removal of NTBs, being faced by domestic exporters in different countries like the US, China and Japan, to achieve export target of USD 1 trillion for goods by 2030. The Global Trade Research Initiative (GTRI) has suggested a two-pronged strategy to mitigate the influence of NTBs on exports. It asked for upgrading domest

Shaping future trade

India should prepare for changing dynamics

A blueprint for boosting exports

Nine suggestions to revitalise trade and spur economic growth

India seeking fair market access ahead of the India-Asean FTA review

India aims to modernise and update the deal to align with current times, considering that the trade agreement was signed over a decade ago

Geopolitics likely to weigh on Chabahar trade volumes, say experts

With Russia's borders with Europe shut and Iran under sanctions, port to focus on Central Asia

India's imports from FTA partners in FY24 grew 38% over FY19

"This growth highlights the significant and varied impact of free trade agreements on India's global trade dynamics," GTRI said in a report

India-EU FTA: Will the marriage reconcile?

While realpolitik is not expected to result in a favourable trade agreement between India and EU, the partners would do best in settling for a more realistic agenda with some compromise from both side

On an upswing: Engineering goods exports pick up pace in H2FY24, shows data

The exports of engineering goods - comprising over a fourth of India's export basket - grew 2.1 per cent to $109.3 billion

In the economic transformation of Southeast Asia, a tale of two FTAs

Advantages of India's FTA with ASEAN appear unclear and appear to make the country dependent on Chinese imports

West Asia tensions stall India's plans to import crude oil from Iran

Iran had been India's third-largest source of crude oil until 2019 when the US imposed fresh sanctions

Israel outweighs Iran in trade with India since 2019, shows data

India's exports to Iran dropped to $1.2 billion as of December 2023, on a rolling 4-quarter basis. India's exports to Israel grew to $6.1 billion in the same period

India keen on trade deals with UK, Oman in PM Modi's probable next term

Modi has asked Indian ministries to set annual goals for the next five years that will fit into a 100-day action plan as he chalks out a strategy to fuel further growth in Asia's third-largest economy

Global trade outlook positive, geopolitical uncertainties remain: UNCTAD

Global trade dipped 3% to $31 trillion in 2023 after peaking in 2022