India and Russia set $100 billion trade goal by 2030, cooperation in energy, agriculture

India and Russia aim to boost their bilateral trade to over USD 100 billion by 2030. The focus is on using national currencies, expanding trade routes, and increasing cooperation in sectors like energy, agriculture, infrastructure, and the digital economy. The agreement, announced at the 22nd Annual Bilateral Summit in Moscow, includes eliminating trade barriers, optimizing […]

India, top rice exporter, might ease export limits before October’s crop. Plans include fixed duties on white rice and removing the 20% tax on parboiled rice to reduce Asian prices, aiding West Africa and Middle East. Monsoon rains boosted sowing recovery, increasing acreage. Data indicate increased sowing for the main rice crop since 2023.

PM Modi’s Russia visit includes meeting Putin to discuss India-China border issues, Kazakhstan summit, arms deals (Su-30MKI, licensed production), trade balance, and energy ties. Talks will also cover Russia’s nuclear threats, US-India relations, murder plot probe, Indian community meetings, and the Ukrainian conflict.

The Centre will refund the compensation cess levied on imported goods under Goods and Services Tax (GST) to businesses operating in special economic zones and their developers, effective from 2017. The Central Board of Indirect Tax and Customs has also directed the issuance of refunds of 5% GST collected on food packages intended for the […]

Senior officials of India and the UK will hold talks this month to finalise the proposed free trade agreement, as the new government in Britain aims to resolve pending issues and conclude negotiations. The talks, which began in January 2022, were stalled during the countries’ general election cycles. Both sides are working towards a mutually […]

India’s coal imports increased by 5.3% to 52.29 million tonnes in April-May FY24, compared to the previous year. However, May imports dropped slightly to 26.19 MT from 26.57 MT last year. Despite potential import demand slowing due to monsoons and rising coking coal prices, domestic production remains robust.

Prime Minister Narendra Modi on Saturday spoke to newly elected British Prime Minister Keir Starmer as the two leaders agreed to work towards an early conclusion of a mutually beneficial India-UK free trade agreement, a statement said. Modi congratulated him on assuming charge and a remarkable victory of his Labour Party in the election.

The Labour Party gained a landslide majority in Thursday’s parliamentary elections and dealt a bruising defeat to incumbent Rishi Sunak’s Conservative Party. “Smooth transition of current talks will take place as the Labour Party has shown support to the trade deal with India,” said Sachin Chaturvedi, Director General, Research and Information System for Developing Countries. […]