India witnessed a 5% increase in oilmeal exports this October, reaching 3.05 lakh tonnes. This positive trend follows a 7% decline in oilmeal exports from April to October compared to the same period last year. The decline was mainly due to lower shipments of rapeseed and castorseed meals.
India’s oilmeal exports up 5 pc in Oct; rapeseed meal shipments decline
India’s imports from the UAE surged by 70.37% to USD 7.2 billion in October, resulting in a trade deficit of USD 3.5 billion. This surge in imports, primarily in silver, platinum, and dry dates, has prompted India to raise concerns with the UAE, urging them to ensure adherence to the Free Trade Agreement.
Uber India unveiled new safety features for its drivers, including SOS integration, helmet selfies, and a preference option for women riders to choose female drivers. The company also announced incentives for drivers who register on the e-Shram portal, supporting the government’s initiative for gig worker security.
India’s merchandise exports experienced significant growth in October. Exports reached $39.2 billion, marking a 17.3% increase. This surge was driven by strong demand from developed markets and increased shipments of various goods. Imports also rose to a record $66.34 billion. The trade deficit widened to $27.1 billion. Despite global economic challenges, India’s exports performed well.
India’s top import source was China, reaching USD 65.89 billion between April and October. The US became India’s primary export destination with USD 47.24 billion in outbound shipments. Russia and the UAE were among the top import sources, while exports to the UAE saw a significant increase. The US was India’s largest trading partner during […]
Commerce and Industry Minister Piyush Goyal suggested the ITPO hold two annual editions of the flagship trade fair. He inaugurated the 43rd IITF at Bharat Mandapam. Goyal also suggested starting India’s fair in other parts of the world. He added the need to organize more large international exhibitions. The ministry is considering expanding the facilities […]
India’s trade relationship with the US is expected to remain strong despite the recent change in US leadership. Bilateral trade between the two nations has shown significant growth, with India’s exports to the US increasing substantially. While experts suggest potential challenges depending on the new administration’s trade policies, both countries continue to benefit from strong […]
India’s spice industry is eyeing significant growth, aiming for $10 billion in exports by 2030. To achieve this, the industry is exploring new markets in Africa, South America, and Eastern Europe, while also focusing on emerging sectors like health and wellness.
Indian and Kazakh business leaders convened at the India-Kazakhstan Business Conference in Astana to explore partnerships in electronics and engineering. Ambassador Prasad highlighted India’s potential in these sectors, emphasizing opportunities in digital transformation, infrastructure development, and manufacturing. The conference aimed to boost bilateral trade and foster joint ventures between companies from both nations.
The World Trade Organisation reported an increase in trade restrictions by G20 nations between mid-October 2023 and mid-October 2024. The WTO found 91 new trade-restrictive measures and 141 trade-facilitating measures on goods, primarily imports. The trade coverage of these restrictive measures reached USD 828.9 billion, a significant increase from the previous year.