Page 15 - Trade

Maersk plans to invest $5 bn, says India beacon for confidence in trade

India is not just a key market but a beacon and an opportunity for confidence in global trade, shipping giant Maersk said on Friday amid its plans to invest around USD 5 billion in ports, terminals, and land-side infrastructure development. The Danish firm, which for the first time named one of its vessels, Albert Maersk, at an Indian port, also said that it was ready to invest more in developing ports with low emissions and great efficiency. The name-giving ceremony of the newest dual-fuel methanol container vessel took place at the APM Terminal at Jawaharlal Nehru port as a part of the vessel's maiden voyage to India. Albert Maersk is the eleventh vessel in Maersk's fleet capable of operating on methanol. "India is the world's fastest-growing major economy, with a thriving manufacturing sector, a booming e-commerce industry, and expanding exports. This economic momentum stands in contrast to the stagnation of many other parts of the world, making India not just a key market, but

India's economic recovery likely clouded by global trade risks ahead

The Indian government has already lowered its GDP growth estimate for the current fiscal year through March to 6.4 per cent

India must rethink trade strategy as US pushes reciprocal tariffs

A systematic evaluation of all these measures, for almost 13,000 tariff lines traded by the US for each of its trade partners, seems like a near-impossible exercise to undertake

Australian exporters to save $2 bn in tariffs due to trade pact with India

The ECTA came into force on December 29, 2022. Under the deal, by value, over 85 per cent of Australian goods exported to India are now tariff-free

Australia to invest $16 mn in joint trade and investment fund with India

Australia boosts India trade ties with $16 million investment, aiming for growth in clean energy, education, agribusiness, and tourism while fostering deeper economic links

Efforts on to balance India-Japan trade by boosting exports: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Friday said efforts are underway to balance bilateral trade between India and Japan by increasing exports. India's exports to Japan during April-January this fiscal rose by 21.12 per cent to USD 5.1 billion, while imports grew by 9.1 per cent to USD 15.92 billion, leaving a trade deficit of USD 10.82 billion in favour of Japan. In 2023-24, the country's export to Japan was USD 5.15 billion and imports were USD 17.7 billion. The trade gap was USD 12.55 billion. "Efforts are being made to balance trade between India and Japan, with a focus on increasing Indian exports to ensure reciprocal benefits," the commerce ministry said in a statement quoting the minister. This was stated by Goyal in his keynote address at the India-Japan Economy and Investment Forum. He also invited Japanese firms to increase collaboration in areas such as green energy, renewable energy, high-tech manufacturing of semiconductors, electronic goods, and artificial

Govt's electronics export goal faces US President Trump's tariff wall

The US is the largest market for India's electronics exports, accounting for 33 per cent of the total as of 2023-24 (FY24)

Govt readies steps ahead of likely bilateral trade deal with the US

Engaging with various departments, apprising them of sector-specific dynamics

India, Qatar upgrade ties, aim to double bilateral trade to $28 bn in 5 yrs

Bilateral talks held by Prime Minister Narendra Modi with Al-Thani on Tuesday focused on trade, investment, and energy, the Ministry of External Affairs (MEA) said

Industry body calls for broken rice exports as stocks hit nine times target

India banned exports of 100% broken rice in September 2022 and then imposed curbs on exports of all other rice grades in 2023 after poor rainfall raised concerns over production

Proposed India-US BTA: US may ask for more access to agri products, ethanol

"The US will ask for major concessions in dairy and agri products, ethanol and removal of price control on medical devices.'' a former senior commerce ministry official said

US President Trump moves to impose reciprocal tariffs as soon as April

"India has more tariffs than nearly any other country," says US President Donald Trump

January smartphone exports top full-year total of FY21, shows data

Minister for Electronics and Information Technology Ashwini Vaishnaw recently posted on X that smartphone exports for 2024-25 are likely to reach ₹2.25 trillion

We guide Switzerland SMEs into Indian market: Swiss State Secretary

Once a government signs a deal with another government, in democracies such as India and the EFTA countries, you have to go through ratification in Parliament and or sometimes its Cabinet

PLI scheme fuels iPhone exports, but gaps remain in manufacturing

India's PLI scheme, particularly in electronics and smartphones, has proved successful in boosting domestic manufacturing and seamlessly aligning with the country's export ambitions

India's natural gas consumption to rise 60%, imports double by 2030: IEA

Expanding city gas distribution, rising compressed natural gas infrastructure behind rise

The illusion of decoupling from China: Costly trade barriers vs engagement

The G7 economies have continued to run massive trade deficits with China, a key issue in US presidential elections

AI-powered trade revolution: Opportunities and challenges for India

AI is transforming global trade, offering opportunities and challenges. India must adapt its policies, leveraging AI for export growth and addressing regulatory issues

Want free trade? May I introduce you to the tariff-driven reality

Free trade is a myth-not because it doesn't work, but because it doesn't exist. This is why democratic governments should come together and create a new trade regime to enforce balance

Govt trying to evaluate impact of US duties on certain countries: Report

India is likely to analyse with the domestic industry the impact of tariffs announced by the US on countries like China to assess the positive or negative implications, if any, sources said on Thursday. Though the duties on China are expected to help increase exports from India to the US due to the duty arbitrage, there could be a possibility of dumping of goods from the neighbouring country as it has excess capacity in almost every sector. India has imposed anti-dumping duties on several goods, including chemicals imported from China, and a number of anti-dumping investigations are going on. "We are trying to analyse the announcements made by the US on increasing tariffs. We will take the decision in due course. We are also asking our industry how these tariffs are going to affect them positively or negatively. We are looking at the exact items on which tariffs will be imposed in China," they said. They added that India was the fourth-largest gainer when the US imposed higher duti