India’s trade relations with Turkey and Azerbaijan face potential strain due to their support for Pakistan and criticism of India’s strikes on terror camps. Calls for boycotts of Turkish goods and tourism have emerged in India. Despite this, trade continues, with India maintaining a surplus with both nations, engaging in diverse product exchanges and people-to-people […]
Explained: India’s trade relations with Turkey and Azerbaijan amid Pakistan conflict
India’s palm oil imports declined by 24.29% in April compared to March, reaching 321,446 metric tons, according to the Solvent Extractors’ Association of India.
India approves three Russian insurers, including a Sberbank unit. They will provide marine cover for ships at Indian ports. This move helps Russia maintain oil supplies to India. India is a top buyer of Russian oil after China. Russia is India’s top oil supplier for the third year. New Delhi benefits from cheap Russian oil.
Major ports’ cargo handling rises 4.3% to 855 MT in FY25; Paradip, Deendayal cross 150 MT
1 year ago
India’s major ports experienced a 4.3% surge in cargo handling, reaching 855 million tonnes in FY 2024-25, fueled by container, fertilizer, and POL throughput. Paradip and Deendayal ports exceeded 150 MT, while JNPA achieved a record 7.3 million TEUs. Increased private investment and land allocation for industrialization signal strong confidence in port-led development.
Trump’s remarks aside, India and US move forward on easing shrimp, apple and alcohol trade rules
1 year ago
Despite trade tensions, the US and India are quietly working to resolve trade barriers. India is considering easing import rules for US apples by replacing strict certifications with simpler declarations. Simultaneously, discussions are underway to finalize a Regional Partnership Agreement for shrimp trade, aiming to reduce rejections and expedite clearances, potentially by year-end.
India only reserved right to impose retaliatory duty on US goods; may resolve issue via BTA talks
1 year ago
India has reserved its right to impose retaliatory duties on specific American products under WTO norms due to US steel and aluminum tariffs, potentially resolving the issue through ongoing bilateral trade agreement negotiations. A similar notification was issued to the WTO against the EU’s steel safeguard measure, which was never implemented.
India is set to boost its shipbuilding industry with mega centers in Andhra Pradesh, Tamil Nadu, and Gujarat. HD Hyundai is reportedly partnering with Cochin Shipyard Limited (CSL) to build large vessels, potentially investing ₹10,000 crore in Thoothukudi, Tamil Nadu.
The Mumbai bench of the NCLT rejected Adani Ports’ plea for a delayed resolution plan for Tuticorin Coal Terminal, favoring the exploration of more bids. The tribunal noted the company’s improved financial performance during the CIRP, suggesting broader investor interest. Currently, lenders are evaluating a proposal from Seapol Port, the remaining bidder for the asset.
India has proposed retaliatory duties on 29 American products, including apples and almonds, in response to US tariffs on steel and aluminum. New Delhi communicated to the WTO that these US measures impact $7.6 billion of Indian imports, resulting in $1.91 billion in duty collections.
A US-China trade deal, featuring tariff reductions, presents both challenges and opportunities for India. While it could intensify competition in some markets, India can leverage its strengths in sectors like pharmaceuticals and IT. Exporters emphasize the need for proactive engagement with the US to secure preferential trade access, especially with ongoing BTA negotiations.