India is boycotting China’s Belt and Road Initiative summit for the third time, citing concerns over sovereignty issues and the financial viability of Beijing’s projects. The two-day summit is being held amid criticism that the loans for unsustainable projects have led to debt traps for smaller countries. India has been critical of the China-Pakistan Economic […]
India to skip China’s Belt and Road Forum for a third time
In 2022-23, India’s merchandise exports to the UK were valued at USD 11.41 billion and out of this, USD 6 billion worth of goods such as petroleum products, medicines, diamonds, machine parts, airplanes, and wooden furniture entered Britain at zero levy, it said.
The ongoing conflict between Israel and Hamas poses several potential threats to the Indian economy. One major concern is the impact on oil prices, as India relies on imports for 85% of its oil needs. Higher oil prices could lead to increased import costs, fuel/fertilizer subsidies, and a weaker rupee, which would affect the country’s […]
Located near the southernmost tip of the country, the Vizhinjam transshipment container port — the first of its kind in India that will be inaugurated on Oct. 15 — will allow India to grab a bigger slice of the international maritime trade currently dominated by China. It will also bolster its aspirations to be an […]
Sept goods exports dip 2.6%, growth seen in H2
3 years ago
India’s merchandise exports declined by 2.6% in September, reaching $34.5 billion. However, a 15% decrease in imports helped narrow the trade deficit to a five-month low of $19.4 billion. The government revised the export growth in August to 3.88% from an earlier reported contraction of 6.8%. Despite the decline, officials remain optimistic about positive growth […]
India’s imports from Russia have increased by 67% to $30.42 billion during April-September this fiscal year. This surge is mainly due to higher shipments of crude oil and fertilizers. As a result, Russia has become India’s second-largest import source in the first half of this fiscal year. Russia’s share of India’s oil imports has risen […]
The Indian government has extended the export duty on parboiled rice until March 31 next year. This move aims to maintain sufficient local stock and control domestic prices. The restrictions apply to all varieties of non-basmati rice, which make up about 25% of the country’s total rice exports. Earlier, the government also banned the export […]
India, Brazil target over 3-fold rise in bilateral trade to USD 50 bn by 2030: Commerce Secretary
3 years ago
India and Brazil have set an “aspirational” target of increasing two-way trade to $50 billion by 2030, according to Commerce Secretary Sunil Barthwal. The current bilateral trade stands at $15.2 billion, and the two countries are aiming for $30 billion in the next 3-4 years. During discussions, the two sides also explored market access issues […]
Excerpts from the podcast – “It was a series of things that didn’t work.” “Sometimes it’s good to suck at something. Because then you overwork to fix it.” “My advice is to think big and do small.”
The IMEC was a landmark moment for India, promising to make it a big player in global trade. But now the Gaza war casts a shadow over this ambitious project and has dampened the spirits.