India, Russia discussing rupee-rouble trade; reducing non-tariff barriers: Commerce Secretary

2 years ago

India and Russia have engaged in discussions to enhance bilateral trade by using local currencies and reducing non-tariff barriers. Indian officials emphasized easing trade barriers affecting exports, such as meat and pharmaceuticals. The goal is to diversify trade beyond petroleum and reach a bilateral trade target of USD 100 billion by 2030.

India’s imports from China up 13%; exports dip 9.44% in July

2 years ago

India’s exports to China dropped by 9.44% in July, while imports surged by 13.05%, amplifying a trade deficit. Cumulative data from April-July 2024-25 revealed a deficit of USD 31.31 billion. However, exports to the US and several other nations showed growth, according to commerce ministry data.

India-Australia to strengthen maritime ecology pillar of the Indo-Pacific Ocean Initiative

2 years ago

The 6th India-Australia Maritime Security Dialogue in Canberra focused on maintaining a safe maritime environment and collaboration in the Indo-Pacific Ocean Initiative. Delegations led by Muanpuii Saiawi and Sarah Storey discussed topics like maritime security, HADR coordination, and sustainable marine resource use. They also explored enhancing bilateral cooperation in areas such as Search and Rescue, […]

Is India losing focus on International Shipping Industry?

2 years ago

India’s seafaring industry has grown significantly, with the country now the fifth largest supplier of seafarers worldwide. Despite the growth, challenges such as visa requirements and fraudulent agents remain. Enhanced training and government support are key for India to become the top seafaring nation.

India and Russia eye dynamic rupee-rouble rate, vostro balance to bypass dollar trade barriers

2 years ago

The Reserve Bank of India (RBI) recently took feedback from banks and financial institutions dealing with Russian funds registered in India. Some Russian financial institutions earlier sounded out RBI on a mechanism to let them use rupees lying in special accounts in India, for investment in stocks and securities here.

Q2 goods exports seen 4.2%: EXIM Bank

2 years ago

“Positive growth in India’s exports could be as a result of India’s continued strong economic activity backed by sustained momentum in manufacturing and services sector, expected global monetary easing and improving demand prospects in trading partners,” the bank said in a statement.

Eurasian Development Bank recommends soft infrastructure measures to popularise INSTC

2 years ago

It is important to create reliable and high-quality infrastructure (Chabahar Port and construction of railway to the port in Iran is very important in this regard), as well as competitive services along INSTC routes, according to Eurasian Development Bank.

Merchandise exports to hit $111.7 bn, non-oil exports at $89.8 bn in Q2 FY25: Exim Bank

2 years ago

India Exim Bank projected that India’s total merchandise exports could reach USD 111.7 billion in Q2 FY2025, a 4.2% y-o-y growth. Non-oil exports are anticipated to touch USD 89.8 billion, showing a 6.26% growth. The forecast highlighted economic momentum but also noted risks from geopolitical tensions and supply chain issues.

For a larger slice of global pie, India seeks anchor role to turn local shipbuilding tide

2 years ago

The government intended to propose a new shipbuilding policy to the cabinet, featuring a recycling credit note scheme and fixed subsidies over 10 years. The policy aimed to enhance the Indian shipbuilding sector by linking recycling benefits with domestic ship construction. The plan included creating maritime clusters in Andhra Pradesh, Gujarat, and Odisha.

Falling prices, low consumer trust, imports issues for lab-grown diamond: GTRI

2 years ago

India’s lab-grown diamond industry has been struggling due to a 65% price drop over the past year caused by overproduction and high imports. GTRI suggests implementing quality regulations and investing in research to improve production processes and enhance the product’s quality. The financial strain on manufacturers is also a significant concern.

India, Russia discussing rupee-rouble trade; reducing non-tariff barriers: Commerce Secretary

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