India, US hard at work on trade deal, New Delhi must drop some non-tariff barriers: JD Vance

6 months ago

U.S. Vice President JD Vance urged India to reduce non-tariff barriers to facilitate a comprehensive trade agreement, emphasizing deepened economic and strategic cooperation. Vance highlighted the U.S. interest in expanding energy exports, assisting in offshore gas exploration, and enhancing defense collaboration with India. Both nations share strategic concerns in the Indo-Pacific region.

Russian oil drives OPEC share in India’s imports to record low, data shows

6 months ago

India’s oil imports saw a shift in fiscal year 2024-25, with OPEC’s share hitting a record low as Russian oil imports surged. Refiners favored discounted Russian crude, making Russia the top supplier for the third consecutive year. Consequently, imports from Saudi Arabia and Iraq declined significantly due to pricing and geopolitical factors.

India’s largest cruise terminal begins operations

6 months ago

Mumbai International Cruise Terminal (MICT) commenced operations, inaugurated by Union Minister Sarbananda Sonowal. Designed to accommodate 1 million passengers annually, the terminal can handle five ships simultaneously. Investment in the MICT project totaled Rs 556 crores. Agreements were also signed for infrastructure projects exceeding Rs 5,700 crores at Vadhavan Port, including container, bulk, and liquid […]

Modi’s historic Saudi Arabia visit to seal major pacts, push for bigger Hajj quota

6 months ago

Prime Minister Narendra Modi’s visit to Saudi Arabia marks a significant milestone as the first Indian prime minister in four decades to visit Jeddah. The visit, at the invitation of Crown Prince Mohammed bin Salman, aims to strengthen the India-Saudi partnership through the Strategic Partnership Council.

India, US set the stage for trade talks with fresh roadmap in hand

6 months ago

India and the United States have finalised a roadmap to begin negotiations on a Bilateral Trade Agreement (BTA), following meetings between Prime Minister Narendra Modi and US Vice President JD Vance. The move comes as Washington enforces new tariffs under President Trump’s trade agenda, including a 26% rate on Indian imports. With key sectors exempt […]

India actively engaging with US; hopes to sign first phase of bilateral pact by Oct: FM

6 months ago

India is actively pursuing a bilateral trade agreement with the US, aiming to finalize the first phase by fall. Finance Minister Sitharaman emphasized the government’s commitment during her US visit, highlighting discussions with the US administration and the Prime Minister’s engagement. India is also focusing on becoming a developed nation by 2047, prioritizing key sectors […]

India must engage with China, US on equal terms: GTRI

6 months ago

Think tank GTRI advises India to maintain strategic autonomy while engaging with both China and the US, prioritizing economic interests and global trade principles. This comes amid China’s warning of retaliation against nations aligning with US trade efforts. India’s trade deficit with China widened to USD 99.2 billion in 2024-25, even as the US remains […]

Leather, footwear exports up 25 pc to USD 5.7 bn in 2024-25; may cross USD 6.5 bn in FY26

6 months ago

India’s leather, non-leather footwear, and product exports surged by approximately 25% to $5.7 billion in 2024-25, according to the Council for Leather Exports (CLE). Driven by healthy demand in developed and developing nations, shipments are projected to exceed $6.5 billion in the current fiscal year.

Modi’s Saudi Arabia visit: Riyadh eyes larger share of oil exports, refinery investment

6 months ago

Prime Minister Modi’s Saudi Arabia visit aims to strengthen energy ties, with Saudi Arabia seeking to increase crude supplies to India amid Chinese market challenges. Riyadh may offer concessional rates and invest in Indian refineries. Saudi Arabia’s ‘Vision 2030’ faces financial constraints, presenting opportunities for Indian companies.

India eyes Rs 1000 crore opportunity to export rapeseed to China

6 months ago

India has a significant opportunity to export rapeseed meal to China, potentially worth Rs 1000 crore, due to the ongoing trade tensions between China and Canada. China’s retaliatory tariffs on Canadian rapeseed meal, coupled with EU shortages, have created a favorable environment for Indian exports.

India, US hard at work on trade deal, New Delhi must drop some non-tariff barriers: JD Vance

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