No adverse impact of Red Sea crisis so far on India’s trade

There is no adverse impact on India’s exports and imports so far due to the Red Sea crisis, an official said. The transportation cost has increased as shippers take a longer route, but volume terms remain unaffected. However, exporters are concerned about the significant jump in freight cost and the potential impact on India’s exports. […]

Former Commerce Secretary Rajeev Kher in an interview with ET said FTA negotiations prioritize preferential agreements over multilateralism due to the lack of commonality in issues among countries and the evolving role of non-trade issues. Kher added that friendshoring has emerged as a response to supply chain uncertainties caused by geopolitical tensions.

“The recently announced India-Middle East-Europe Economic Corridor (IMEC) is a strategic and economic game-changer for India and others,” FM Sitharaman said. The inclusion of this transformative project in the budget speech is a subtle message to the overseas audience that India is committed to its quest for deeper integration with global markets.

The Red Sea crisis, caused by Houthi militants targeting shipping vessels, will not have an inflationary impact or cause a drastic shortage of goods in India, according to the head of a US-India body. While the crisis has impacted global trade and increased voyage time, India can survive through it. However, India’s exports of rice […]

As a result of measures, the manufacturing ecosystem of the industry has witnessed “remarkable” growth, leading to a substantial decrease of 52 per cent in overall import of toys from USD 332.55 million in 2014-15 to USD 158.7 million in 2022-23, Parkash said in a written reply to the Rajya Sabha. The exports have increased […]

The government assures that the crisis in the Red Sea has not significantly impacted container availability in most ports. However, there has been a rise in freight costs and container sailings from India have been redirected via the Cape of Good Hope route. The Indian Navy has increased maritime surveillance efforts in the Arabian Sea […]

India’s food secretary has highlighted that the government has no intentions to revise rice export restrictions until prices fall, reported Reuters, on Friday.

Piyush Goyal discusses bilateral investment treaties and the importance of negotiating from a position of strength. He mentions concerns about the Red Sea situation and the potential impact on exports. Goyal believes that India will become the largest market for aircraft in the next 20-25 years, attracting manufacturers. The budget focuses on infrastructure investment to […]

India and Indonesia commemorated the 75th anniversary of their diplomatic relations with the mega India-Indonesia Business Forum, focusing on attractive sectors for collaborations such as pharma, consumer goods, transportation infrastructure, tourism, e-mobility, and FinTech. The event concluded with the unveiling of a logo symbolizing the strong cooperation between the two countries.

India sustains export growth despite global challenges arising from conflicts like the Israel-Hamas war. The Budget lays a strong foundation for economic growth. Geopolitical complexities and conflicts reshape globalization. Wars and crises disrupt global supply chains, impacting India’s exports and logistics. The Budget focuses on every section of society, with announcements on e-mobility promotion and […]