India-Russia trade hits USD 66bn in 2024; target of USD 100bn by 2030 on track: Russian envoy

Russia and India achieved record-breaking bilateral trade of USD 66 billion in 2024. This represents a fivefold surge in five years. The countries aim for USD 100 billion in trade by 2030. Collaboration is expanding in sectors like railways, IT, and pharmaceuticals. Indian businesses have new opportunities in Russia. A proposed trade desk in Kolkata […]

Morgan Stanley’s analysis suggests India and Japan are relatively insulated from President-elect Trump’s tariff threats, with Japan particularly well-positioned. While India faces greater exposure, the impact on growth is estimated to be moderate. However, broader tariff implications for Asia remain a concern, emphasizing the need for diversified trade partnerships.

India is seeking assurances from the European Union that future non-tariff barriers won’t harm its interests during ongoing free trade agreement negotiations. India raised concerns about measures like the Carbon Border Adjustment Mechanism, emphasizing market access for goods, services, investment, and government procurement as key priorities.

India’s increasing protectionist policies risk escalating trade tensions with the US, particularly in the booming e-commerce sector. Local retailers’ concerns about MNC dominance are prompting government intervention, but US retaliation could harm Indian exports and jobs. A balanced approach is crucial to protect local interests while fostering foreign investment and economic growth.

India’s economy shows resilience amidst global uncertainties. Favorable monsoons boost agriculture, while services trade remains strong. However, weakening global demand and geopolitical tensions, including the Russia-Ukraine conflict, pose challenges to export growth and financial markets.

External Affairs Minister S Jaishankar acknowledged the challenges posed by Middle Eastern conflicts to the India-Middle East-Europe Economic Corridor (IMEEC) but highlighted progress on its eastern front involving India, the UAE, and Saudi Arabia. He emphasized India’s condemnation of terrorism and hostage-taking, advocating for a ceasefire and a two-state solution for the Palestinian people.

The arrest of Indian billionaire Gautam Adani on bribery charges has created a diplomatic dilemma for incoming US President Donald Trump, who seeks closer ties with India to counter China. While Trump’s personal relationship with Indian Prime Minister Narendra Modi might encourage intervention, the case highlights the global reach of US law and India’s strategic […]

India and the Association of Southeast Asian Nations (ASEAN) have scheduled the next round of talks concerning their free trade agreement for February 2025 in Jakarta. The two economic groups concluded their fourth round of negotiations earlier this month. Separately, India is working with the European Free Trade Association (EFTA) to implement a free trade […]