Indian traders have declared a complete boycott of Turkey and Azerbaijan due to their support for Pakistan during a recent conflict. The Confederation of All India Traders (CAIT), representing millions, announced the immediate halt of all imports and exports. Companies are warned against filming in these nations, facing boycotts themselves.
Indian traders announce full boycott of Türkiye, Azerbaijan over pro-Pakistan stance
India’s trade surplus with UK remained flat during past decade; FTA to improve overall trade: ICRA
1 year ago
India’s trade surplus with the UK has seen a slight increase over the last decade. A newly established Free Trade Agreement is set to boost trade relations. Merchandise trade has grown modestly, with imports outpacing exports. The FTA is expected to eliminate duties on most Indian exports. Reduced tariffs will also benefit Indian consumers.
India’s merchandise exports surged by 9.03% in April, reaching a six-month high, driven by a 27% increase in exports to the US. However, a significant rise in imports led to a higher trade deficit. Increased exports of electronics and engineering goods contributed to the growth, while rising crude oil and gold imports also played a […]
The government is contemplating reinstating interest subsidies on export credit, particularly for MSMEs, under the proposed Export Promotion Mission. This move aims to enhance their competitiveness amidst global tariff uncertainties, addressing concerns raised after the previous interest equalisation scheme was discontinued in December 2024.
“Trade talks and negotiations have been going on between India and the US. These are complicated negotiations. Nothing is decided till everything is. Any trade deal has to be mutually beneficial, it has to work for both countries. That would be our expectation from the deal. Until that is done, any judgement on it would […]
India’s proposal to impose retaliatory duty on US goods to figure in trade talks: Official
1 year ago
India’s proposal for retaliatory duties on US goods, prompted by American steel and aluminum tariffs, will be a key topic in upcoming trade talks starting May 17. An official emphasized this as a pragmatic approach within WTO norms, reserving India’s right to retaliate while prioritizing negotiation. The aim is to boost bilateral commerce to USD […]
Kolkata Port invites bids to transform 3 vintage river vessels into floating cultural venues
1 year ago
The Kolkata Port Trust plans to convert three retired pilot boats into tourist attractions. These vessels, PL Rupsa, PL Hooghly and PL Gopal, will become floating cafes, museums, or wedding venues. The port authority invites proposals from entrepreneurs. This initiative aims to rejuvenate Kolkata’s riverfront. The port offers free berthing and jetty space to encourage […]
India strengthens its economic bonds with Gulf nations. Trade agreements are being finalized. A free trade agreement with Oman is expected soon. Similar pacts with Qatar and other Gulf countries are under consideration. India already has a trade deal with the UAE. Negotiations with the Gulf Cooperation Council are ongoing.
India and the US are collaborating on a revised customs audit process to reduce consignment rejections and expedite goods movement amidst ongoing trade negotiations. Discussions involve clearer protocols, relaxed certification norms for seafood and genetically modified agri-produce, addressing key contention points.
Indian entities have pledged nearly USD 6 million in foreign direct investments in Azerbaijan and Turkiye, a small portion of the total USD 6.8 billion proposed overseas investments in April. This comes amid calls for boycotts of Turkish and Azerbaijani goods and tourism following their condemnation of India’s strikes on terror camps in Pakistan.