Trade between India and the UK boomed in 2024. HSBC data reveals payments from India to UK businesses jumped 121%. Payments from UK businesses to India also grew by 32%. Client referrals between HSBC India and HSBC UK increased. Both governments plan to restart FTA talks in 2025. This could further boost the GBP 42 […]
New banking data reveals ‘huge’ leap within India business corridor
India is expanding its e-commerce export capabilities. Three companies have been shortlisted from five applicants, including DHL and Lexship, to establish export hubs. Two hubs near Delhi airport will launch in February 2024. These hubs will streamline customs and offer an easy re-import policy. The government aims to boost e-commerce exports significantly, targeting over USD […]
Adani Ports drops $553 million US loan for Sri Lanka terminal, opts for internal funding
11 months ago
Adani Ports and Special Economic Zone (APSEZ) has withdrawn its $553 million loan request from the US Development Finance Corporation for the Colombo port project. APSEZ will instead fund the project with internal resources. The project is progressing well and is expected to be operational early next year. This follows investigations into Adani by US […]
Maersk, a global shipping giant, is exploring shipbuilding and repair opportunities in India, expressing confidence in the nation’s growing capabilities. This aligns with India’s ambitious shipbuilding policy, which offers substantial subsidies and a ship recycling credit note scheme to boost the industry through 2034, potentially extending to 2047.
India, 3 others oppose China-led investment pact at WTO
11 months ago
India and three other nations oppose the China-led WTO investment agreement, preferring consensus on non-trade issues. Meanwhile, India evaluates its stance on the EU’s Carbon Border Adjustment Mechanism (CBAM) amidst ongoing FTA negotiations, concerned about potential tariffs impacting domestic industries.
India launched 43 anti-dumping probes this year. These investigations target several countries including China and Russia. The government also supported startups. The Startup India Seed Fund Scheme helped over 2,490 startups. Over half of these startups have a woman director. The National Single Window System streamlined business approvals. Over 7.6 lakh approvals were processed through […]
Govt allows Adani Krishnapatnam Port to import petroleum into India by sea in ‘public interest’
11 months ago
Adani Port: On Monday, the Ministry of Ports, Shipping, and Waterways granted an extension for petroleum imports at Adani Krishnapatnam Port in Andhra Pradesh. This approval allows the port to maintain its petroleum imports by sea, in line with the operations authorized under the Navigational Safety at Ports Committee (NSPC) certificate.
Online orders, sustainable goods drove exports in 2024
11 months ago
Indian exporters experienced a mixed 2024, with higher online orders and demand for sustainable products but lower order values. Exports rose 5-8%, driven by the US and EU, despite slow demand in some European nations. Global brands shifted orders from Bangladesh to India due to political instability there, boosting garment exports. Rising Israel-Iran tensions posed […]
India and Australia concluded a three-day meeting to expedite their Comprehensive Economic Cooperation Agreement (CECA). Negotiators discussed market access, aligning with India’s food security goals, and explored collaborations in agriculture, supply chains, and other key areas. Building upon the interim ECTA, the CECA aims to broaden trade across goods, services, and emerging sectors.
India and the European Union are gearing up for the next round of free trade agreement talks in March 2025 in Brussels. They aim to resolve differences on rules of origin and government procurement. Market access for Indian goods, services, and investments will be key discussion points, along with EU sustainability measures.