India, UK review ties, focus on early conclusion of FTA

India and the UK reviewed their strategic partnership, focusing on finalizing a free trade agreement, enhancing defence cooperation, and counter-terror collaboration. Both nations aimed to identify new areas for collaboration, with discussions covering economic ties, technology, and security initiatives and fostering innovation in emerging technologies, clean energy, and cultural linkages.

Global trade, including Indian exports, is impacted by extended voyage times and conflicts in key regions. Despite no reported container shortages, India’s limited container manufacturing capacity is noted. Measures to reverse startup flipping and PLI schemes have shown substantial economic growth and export contributions.

In November, India’s edible oil imports hit a four-month high as refiners bought more palm oil, soyoil, and sunflower oil to restock after robust demand during festival seasons. This increase in imports could help reduce inventories in producing countries. However, palm oil imports in December might decline due to the recent price rally making other […]

India has transported goods to Russia via the Transcaspian route of the International North South Transportation Corridor for the first time. This pilot shipment of agricultural goods aims to assess the feasibility of regular supplies. INSTC includes several routes across the Caspian Sea, through Iran, and via Azerbaijan, with ongoing developments in related infrastructure.

US President-elect Donald Trump’s social media posts have caused market fluctuations in the past. While Trump has shown unpredictability in his policies, he has been relatively friendly towards India. However, his recent tariff threats and warnings to BRICS nations about moving away from the US dollar create economic uncertainties for India.

Commerce and Industry Minister Piyush Goyal stated that the Global South is not responsible for global environmental damage, attributing it instead to developed countries with high energy consumption. He emphasized the need for sustainable consumption patterns at the CII Partnership Summit.

India has achieved exports of organic food products valuing nearly USD 450 million by November 25 of this fiscal year. Union Minister of State for Food Processing Industries Navneet Singh Bittu provided data in Lok Sabha showing the consistent export performance over several years. The exports are certified under the National Programme for Organic Production.