Trade

India's exports to Hong Kong rise by a fifth in Apr-Oct as demand rises

Hong Kong is among India's top 10 export destinations, accounting for close to 2 per cent of the country's total outbound shipments

Gold may surge to $4,600: Why the rally isn’t over yet | Gold price | Gold rate | Investment tips

Global tensions, weakening dollar, and surging central bank demand are fuelling gold’s rise. Emkay analysts now predict prices could soar to $4,600 per ounce.

Govt calls for 'open house' to discuss steel import issues with industry

The government on Monday called for an "open house" to discuss issues related to steel imports with industry stakeholders. Companies and associations may present their issues in the open house scheduled for October 27 in the national capital, the Ministry of Steel said in a statement. The development comes at a time when domestic players have been complaining about cheap imports affecting their competitiveness. The Reserve Bank India (RBI) has also noted that steel imports have seen a surge, largely driven by lower import prices. It has also called for policy support to boost the competitiveness of domestic steel production. "The dumping of cheap steel from global producers may pose a risk to the domestic steel production, which can be mitigated through suitable policy measures," as per an article published in the Reserve Bank's October Bulletin. "The dumping of cheap steel from global producers may pose a risk to the domestic steel production, which can be mitigated through suit

Global South should speak in one voice against trade challenges: Goyal

India on Wednesday called on developing and least developed nations to collectively work to address global trade challenges such as tariff barriers, unilateral environmental restrictions, and hurdles in the services sector. Addressing the 16th session of United Nations Conference on Trade and Development (UNCTAD) in Geneva, Commerce and Industry Minister Piyush Goyal said: "It is time for the Global South to speak with one voice on concerns that impact all of us". He said the world is currently volatile, marked by numerous uncertainties, challenges, and ambiguities in the global trading system. "We are living in a world marked by a profound trust deficit, whether in multilateral institutions, different international bodies, amongst nations and multiple critical challenges confront us almost on a daily basis. These challenges are multi-faceted. "It could be the erosion of confidence in the rules based trading system, a lot of non-market practices coming into play, tariff and non-tar

Tariff threat kept India, Pakistan from going at it: US President Trump

US President Donald Trump has once again claimed to have resolved the war between India and Pakistan, saying that seven planes were shot down in the firing between the two countries without specifying to which nation they belonged. Speaking in an interview with Fox News broadcast on Sunday, Trump claimed that the threat of tariffs forced India and Pakistan to stop the war. The threat of tariffs, as an example, kept India and Pakistan, two nuclear nations, from going at it. They were going at it. Seven planes were shot down; that's a lot. And they were going at it. And that could have been a nuclear war, the US President said. Trump said Pakistan's Prime Minister Shehbaz Sharif praised him for saving millions of lives. The Prime Minister of Pakistan actually just said, Donald Trump, President Trump, saved millions of lives by getting that, he said. The US president said he threatened to impose 200 per cent tariffs on India and Pakistan, which forced them to stop the war. Trump sai

Global companies hit by $35 bn in US tariffs, but outlook stabilizing

Trump's trade war has hiked U.S. tariffs to their highest levels since the 1930s, and the president has regularly threatened more duties

Trump vows to keep massive tariffs on India until Russian oil imports cease

"I spoke with Prime Minister Modi of India, and he said he's not going to be doing the Russian oil thing," Trump told reporters aboard Air Force One

Russia continues oil shipments to India, TASS cites foreign ministry

Trump reiterated that Indian Prime Minister Narendra Modi told him India will stop buying Russian oil, while warning that New Delhi would continue paying "massive" tariffs if it did not do so

UK businesses accelerate India expansion plans post-FTA: Report

Several UK businesses see the Free Trade Agreement (FTA) with India as a "game-changer" as they accelerate expansion plans and a majority of firms without a presence move to enter the market, according to a new report. According to Grant Thornton's latest International Business Report' (IBR) analysis from last week, 72 per cent of UK firms now identify India as a key market for international growth, up from 61 per cent last year, signalling India's "shift to the centre of global strategy conversations". The India-UK Comprehensive Economic and Trade Agreement (CETA), signed during Prime Minister Narendra Modi's UK visit in July, is expected to significantly enhance the 44.1-billion-pound bilateral trading partnership once it is ratified by the British Parliament in the coming months. The IBR report found that while only 28 per cent of businesses surveyed currently operate in India, 73 per cent of those without a current presence plan to enter the market, including 13 per cent within

Exports post growth in 24 nations in Apr-Sep, show market diversification

Reflecting a clear trend of market diversification, Indian exporters registered positive growth in 24 countries during the first half of the current fiscal year, even as shipments to the US declined due to high tariffs in September, official data showed. These 24 countries include Korea, UAE, Germany, Togo, Egypt, Vietnam, Iraq, Mexico, Russia, Kenya, Nigeria, Canada, Poland, Sri Lanka, Oman, Thailand, Bangladesh, Brazil, Belgium, Italy and Tanzania. "24 countries with a total export of USD 129.3 billion recorded positive growth in export in April-September 2025-26 as against the same period last fiscal, amounting to a share of 59 per cent of India's exports," an official said. During April-September this year, exports increased by 3.02 per cent to USD 220.12 billion, and imports rose 4.53 per cent to USD 375.11 billion, leaving a trade deficit of USD 154.99 billion. However, according to the Commerce Ministry data, India's exports to 16 countries have registered negative growth ..

Trade deficit hits 13-month high as US exports fall 12%, gold imports surge

The surge in inbound shipments in September was led by a 107 per cent jump in gold imports to $9.6 billion

Alckmin meets Rajnath, to hold trade meeting with Piyush Goyal on Oct 16

He is also scheduled to meet External Affairs Minister S Jaishankar and Oil Minister Hardeep Puri. Alckmin is set to attend the India- Brazil Business Forum, the Ministry of External Affairs said

India growing force on world stage: UK PM Starmer updates Parliament

British Prime Minister Keir Starmer on Tuesday updated the House of Commons on his two-day visit to Mumbai last week with the country's biggest trade delegation to India, scoring deals worth around 1.3 billion pounds. Addressing Parliament as it resumed from recess this week, Starmer said both countries were united by the future following a historic trade deal struck in July to open up new opportunities for businesses and boost job creation. The India-UK Comprehensive Economic and Trade Agreement (CETA), signed during Prime Minister Narendra Modi's UK visit two months ago, is expected to significantly enhance the bilateral trade partnership from the current 44 billion pounds a year. India is a growing force on the world stage, on track to have the third largest economy by 2028, said Starmer. So, in addition to the bond we already shared, the living bridge of family and history, we are also united by the future and the incredible opportunities that we see before us. That's why, back

9 killed in fire at garment factory and chemical warehouse in Bangladesh

At least nine workers were killed and eight others injured on Tuesday in a fire that broke out at a garment factory and a chemical warehouse in Bangladesh capital, officials said. The devastating fire broke out at a chemical warehouse next to the garment factory, Talha Bin Jasim, an officer at the Fire Service and Civil Defence Media Wing, was quoted as saying by the state-run BSS news agency. Nine bodies have been recovered from the first and second floors of the garment factory, Fire Service and Civil Defence Director (Operation and Maintenance) Lt Col Mohammad Tajul Islam Chowdhury told reporters. "We suspect that all of them have died after inhaling toxic gas, Chowdhury was quoted as saying by Bangla language daily Prothom Alo. He added that the fire was brought under control, and firefighters are conducting searches at the garment factory. The number might go up, Talha Bin Jasim said. He said they received the report of the fire at 11:40 am (local time), and the first team .

Gems and jewellery exports rise by 6.5% to $2.9 billion in September

The overall gems and jewellery exports rose by 6.55 per cent in September to USD 2,914.29 million (Rs 25,737.50 crore) despite global headwinds as festive and wedding season demand gains momentum, the Gem and Jewellery Export Promotion Council (GJEPC) said on Tuesday. Gem and jewellery exports stood at USD 2,735.26 million (Rs 22,925.81 crore) in in September 2024, GJEPC said in a statement. In the first half of 2025-26, the overall gem and jewellery exports witnessed a growth of 3.66 per cent at USD 14.09 billion compared to USD 13.60 billion in the same period of the previous fiscal. "The first half of this financial year reflects encouraging signs of recovery for the industry. Demand for gem and jewellery products has strengthened across key markets such as the UAE, Hong Kong, and the UK, with exports registering consistent growth. The upcoming festive and wedding season among the Indian diaspora, together with the holiday season demand in global markets, is expected to further .

China's exports of EVs, hybrid vehicles doubled in Sep to 222,000 units

China's exports of electric vehicles doubled in September from a year earlier as its automakers expanded their reach into overseas markets. Domestic passenger car sales climbed 11.2 per cent year-on-year in last month down from a 15 per cent rise in August, the China Association of Automobile Manufacturers said Tuesday. Exports of new energy vehicles, including battery electric vehicles and plug-in hybrids, jumped 100 per cent to 222,000 units in September, the industry organisation said. That was slightly lower than the 224,000 units exported in August. China's EV makers have been increasingly looking abroad to markets such as Europe and Southeast Asia as overcapacity and price wars back home have pressured their profit margins. They invested more abroad than inside China last year, for the first time since 2014, the US-based consultancy Rhodium Group said in a recent report. BYD - one of China's largest EV makers - said this month that the United Kingdom has become its largest ..

RBI announces measures to facilitate cross-border trade transactions

Banks in India and their overseas branches have been permitted to lend in Indian Rupees to persons resident in Bhutan, Nepal, and Sri Lanka to facilitate cross-border trade transactions, the Reserve Bank said on Monday. The RBI said amendments have been made to the Foreign Exchange Management (Borrowing and Lending) Regulations, 2018 and Foreign Exchange Management (Foreign currency accounts by a person resident in India) Regulations, 2015, as part of continuous efforts towards facilitating external trade and payments'. "AD (authorised dealer) banks in India and their overseas branches have been permitted to lend in Indian Rupees to persons resident in Bhutan, Nepal, and Sri Lanka, including banks in these jurisdictions, to facilitate cross-border trade transactions," it said. In January 2025, the RBI permitted Indian exporters to open foreign currency accounts with a bank outside India for the realisation of export proceeds. Unutilised balances in these accounts are required to be

US retailers brace for impact as Trump's additional 100% China tariffs loom

The tariff threat could prompt a "pull-forward of shipments" as retailers try to beat implementation timelines, said Blake Harden, managing director at Washington Council EY

India, US to hold trade talks as New Delhi seeks higher energy imports

The official, speaking on condition of anonymity, due to the sensitivity of the issue, said India was looking to increase purchases of energy and gas from the US

India-EU trade pact talks progressing; steel, auto issues need resolution

Negotiations for the proposed free tarde agreement between India and the EU are progressing well, but differences still need to be ironed out in certain areas such as steel, automobiles and non-tariff barriers, a senior official said on Monday. Senior officials from India and the 27-nation European Union (EU) last week concluded the 14th round of talks for the agreement in Brussels. The five-day talks began on October 6 to iron out differences on different issues related to goods and services for the early conclusion of the negotiations. "Talks are progressing well. There are issues which need resolution such as steel and automobiles. No major issue is pending in agri," the official said. The Indian negotiators were later joined by Commerce Secretary Rajesh Agrawal in the closing days of the round for providing a push to the negotiations. Agrawal held discussions with European Commission Director General for Trade Sabine Weyand during the visit. The official also said Commerce an