Page 17 - India Trade

Around 22 nations exploring bilateral trade with India in rupee: Sitharaman

"Those countries are running short of dollar," Sitharaman said

Statsguru: Six charts explain expansion in India's services trade

An analysis of global numbers suggests that other commercial services dominate services trade globally

India best-performing in South Asia in terms of trade facilitation: UNESCAP

India is now the best-performing nation amongst all the countries of South Asian region in terms of trade facilitation, as per the United Nations Economic and Social Commission for Asia Paci?c's (UNESCAP) report. As per the Global Survey on Digital and Sustainable Trade Facilitation, India improved its score compared to 2021 survey. The 2023 survey, covering more than 140 economies and evaluating 60 trade facilitation measures, has positioned India at the forefront of global trade facilitation e?orts, with an impressive score of 93.55 per cent in 2023 vis a vis 90.32 per cent in 2021. The 2023 survey has recognised India's exceptional progress across various sub indicators, with the country achieving a perfect score of 100 per cent in four key areas: Transparency, Formalities, Institutional Arrangement and Cooperation, and Paperless Trade. These remarkable scores are a testament to India's relentless e?orts in streamlining trade processes, enhancing transparency, and promoting ...

India can also put trade barriers in retaliation to restrictions: RK Singh

India can also put trade barriers in retaliation to restrictions imposed by some countries, Union Minister R K Singh said on Wednesday. The minister for power, new and renewable energy made the remarks at the first International Conference on Green Hydrogen 2023. There is a huge potential for players looking to invest in green hydrogen manufacturing in India as there are various sectors like steel, cement, transportation where there will be a demand for the clean energy source, he said. "We want the whole world to partner with us and that I think is the solution. The solution is not setting up barriers which some countries have started doing. If you put up barriers we (Indian government) can put up barriers as well," Singh said addressing the attendees which included foreign diplomats and industry leaders from various countries. Without naming any specific country, the minister said his message to such countries will be that India can also put up the same kind of barriers which wou

India will retaliate on trade barriers on green hydrogen: R K Singh

The US, which under its Inflation Reduction Act is subsidising green energy sources, also has criteria of local manufacturing in some cases

The rise of bilateralism

Depending solely on bilateral trade agreements is unwise

Ambitious plans for US-India technology sharing face export rules hurdle

Standing in the way are strict U.S. rules governing export of defense technology, including International Traffic in Arms Regulations (ITAR)

Rupee globalisation to spur easier trade with other nations: Ex-RBI dy guv

"India's share of global trade, both exports and imports, is around 7%," said Thorat. "Similarly the share in financial flows is also around the same"

Top headlines: India seeks import duty relaxation, US flags policy barriers

Business Standard brings you the top headlines at this hour

Piyush Goyal, US trade representative Tai to hold virtual meet today

US Trade Representative Katherine Tai will on Thursday hold a virtual meeting with Union Commerce and Industries Minister Piyush Goyal. The meeting comes ahead of Prime Minister Narendra Modi's official State Visit to the US next week at the invitation of President Joe Biden. During the meeting, Tai and Goyal are expected to put the finishing touches on the announcements being planned for next week. Bilateral trade between India and the US has nearly doubled in the Modi government's nine years. Last year, trade between the countries was over USD 191 billion. On Tuesday, US Chambers of Commerce President and CEO Suzanne Clark urged Modi and Biden to work towards achieving bilateral trade of USD 500 billion per annum. Speaking at the India Ideas Summit of the US-India Business Council, Clark said, "By reaching that ambitious bilateral trade target (of USD 500 billion), together we can demonstrate to the world that the future of the global economy will be anchored by democracy, free

India, UAE to raise non-petroleum trade to $100 bn by 2030: Piyush Goyal

India and the United Arab Emirates have mutually agreed to raise non-petroleum bilateral trade between the two countries to $100 billion by 2030, the South Asian nation's trade minister said on Monday

India's exports to grow dramatically on the back of dynamic trade strategy

India's total exports, merchandise exports and services combined, grew at 13.8 per cent to achieve a new record of $770 billion in 2022-23

Dry port in Dodhara Chadani: 4-track access road to Nepal border from India

To boost trade and transport services between the two countries, India has opened a four-lane track for road access up to the Nepal border. Nepal-based online magazine e-Pardafas reported

Iran calls for increased use of national currencies in trade with India

Iran's Secretary of the Supreme National Security Council (SNSC) Ali Shamkhani added that improved Iran-India ties are not against any other country and are not affected by the will of third parties

India's trade with Latin America approaching a volume of $50 bn: Jaishankar

Underlining India's growing investments, he said, "Surge in investments in the energy sector, India today imports crude from Brazil, Mexico, Colombia and Guyana"

India may propose mutual settlements in local currencies at SCO IBC meeting

The move will enable the infrastructure projects to be cost efficient as the import component of the infrastructure projects will become relatively cheap with the settlement in the Rupee

India likely to move to upper-middle-income category by 2047: EAC-PM chief

Economic Advisory Council to the Prime Minister (EAC-PM) Chairman Bibek Debroy on Monday said that some states in India are already in the high income category in purchasing power parity (PPP) terms, and the country is likely to move to the upper-middle-income country by 2047. Debroy further said any presumption that the Indian economic growth rate will be driven only by exports may be misleading because there are plenty of endogenous sources of growth. "In 2047, India will probably move to the upper middle income category...Some states in India, at least in PPP terms, are already in the high income category," he said at an event here. According to the World Bank's definition, a country with a per capita annual income of over USD 12,000 is considered as a higher-income nation. India, which is the world's fifth largest economy, is currently classified as a developing nation. Prime Minister Narendra Modi has set an ambitious target of making India a developed nation by 2047. A deve

In the old tale of Kabuliwala, there is a South Asia trade mystery

India's business with its neighbourhood is stagnant though it offers better terms than China

Govt to develop eastern grid with 5,000 km waterway to boost trade

The government is planning to develop an eastern grid with 5,000 kilometres of navigable waterway to boost regional integration and trade with South Asia and Eastern South Asia, Union minister Sarbananda Sonowal said on Wednesday. Sonowal further said with the seamless connection between National Waterway-1(Ganga), NW-2 (Brahmaputra) and NW-16(Barak), the government is keen to create an opportunity via an economic corridor of 3,500 kilometres connecting the Northeast India with the rest of India via Bangladesh. "The government is working extensively to develop the Eastern Grid with more than 5,000 kms of navigable waterways. "...the development of this grid will not only boost regional integration & accelerate development but it will further deepen eastern India's trade within BBIN countries (Bangladesh, Bhutan, India, Nepal)," he said at an event organised by industry body PHDCCI. According to Sonowal, it will also further amplify trade potential with countries like Myanmar, ...

Trade fuelled faster rise in India's production-based emissions

India's production-based estimates of CO2 emissions rose 63 per cent, from 1.6 billion tonnes in 2009 to 2.6 billion tonnes in 2019, reveals an analysis of numbers from tracker Our World in Data