India’s sunflower oil imports are set to decline as prices rally due to increased freight rates. Buyers are shifting to rival vegetable oils available at a discount. Recent Houthi attacks have compelled shipping companies to reroute trade, increasing time and costs. The elevated freight rates have lifted the landed cost of sunflower oil above that […]
India’s sunoil imports to falter as Red Sea attacks lift freight costs
India and the EFTA have been negotiating the pact, officially dubbed as Trade and Economic Partnership Agreement (TEPA), since January 2008 to boost economic ties.
During a recent visit, US Trade Representative Kathreen Tai experienced nuanced messages on India-US trade through her banquet menu. The inclusion of Indian wild-caught shrimps, usually prohibited under US law due to concerns about sea turtles, signaled potential collaboration in overcoming regulatory challenges. The second message was represented by grapes served with Angoori Rasmalai, symbolizing […]
India’s exports of goods and services showed a marginal increase of 0.4% to USD 765.6 billion in 2023, despite global economic uncertainties. Key contributing sectors included electronics, pharmaceuticals, cotton yarn, fabrics, ceramics, meat, dairy, poultry, fruits, vegetables, and information technology. Goods exports contracted by 4.71% to USD 431.9 billion, while services exports rose by 7.88% […]
Homegrown Tiger Logistics, Bangladesh-based Sikder Group ink initial pact to increase trade
2 years ago
The development comes in continuation of the strengthening of connectivity between the two nations, as Bangladesh granted India permanent access to Chattogram and Mongla Port in April 2023.
Govt to discuss market access with trade allies
2 years ago
The commerce department has begun the exercise with barriers such as registration requirements, higher pesticide levels and domestic standards, put up by Africa and 12 Central Asian countries, including Russia, and would then study the restrictions imposed by other trading partners.
New Delhi’s stand comes after the US sought more time to come up with a solution and said that only PSH can’t be a part of the agriculture package at MC13 and want discussions on issues like providing information on export restrictions at least 30 days prior to the notification, which is not feasible.
India usually exports around 250,000 to 300,000 metric tons of corn every month but in December its exports fell to around 30,000 tons, dealers said.
ABG Shipyard Ltd, accused in India’s biggest bank fraud case, created 27 “paper companies” and used 38 Singapore-based group entities to divert funds borrowed from ICICI Bank-led lenders. The Enforcement Directorate’s chargesheet reveals that the diverted funds were transferred to Singapore and invested in tax havens. The paper companies were created solely for the purpose […]
Red Sea crisis: Commerce Ministry asks Financial Services dept to monitor credit flow to exporters
2 years ago
The Commerce Ministry has directed the Department of Financial Services (DFS) to monitor and ensure credit flow to exporters facing challenges due to increased freight costs in the Red Sea crisis. The move aims to support exporters dealing with elevated shipping expenses as consignments take longer routes, impacting both time and cost. The inter-ministerial meeting, […]