India’s ban on ships carrying Pakistani goods, effective May 2, 2025, has led to increased freight charges and longer transit times for Pakistani importers. Mother vessels are avoiding Pakistan, forcing reliance on feeder vessels and raising costs. While exporters report higher shipping and insurance costs, the overall impact on exports is currently minimal, though broader […]
India’s ban on ships with Pakistani cargo raises freight costs, delays imports: Report
India’s trade deficit may surge to $300 bn in FY26 despite lower oil prices: ICICI Bank Report
4 months ago
ICICI Bank projects India’s trade deficit to widen to USD 300 billion in FY26, driven by weak non-oil export performance despite moderate oil prices. Imports are expected to remain strong due to robust domestic growth. Steady service exports and remittances should keep the current account deficit at USD 30 billion, or 0.7% of GDP.
India, US push for trade pact as deadline nears
4 months ago
India and the US are engaged in intense trade negotiations to finalize a pact before the July 9 deadline, addressing contentious issues like tariffs and market access. While progress has been made, disagreements persist on matters such as patent laws and agricultural imports.
India’s trade team has prolonged its stay in Washington to resolve disagreements with the US, aiming for a deal before the July 9 deadline for higher tariffs. Negotiations, initially set to end on June 27, have been extended, fueling optimism for an interim trade agreement.
Amit Shah announced a USD one billion turmeric export target by 2030. He inaugurated the National Turmeric Board headquarters in Nizamabad. The board will focus on farmer prices, exports, and research. Narendra Modi promised the board during the Telangana elections. The government allocated Rs 200 crores to improve turmeric quality and farmer income.
Drone survey for Vadhvan port completed: Officials
4 months ago
The drone survey for the Vadhvan Port project in Maharashtra’s Palghar district is now complete, despite earlier protests from villagers concerned about their livelihoods. District officials met with local representatives to discuss demands, including higher compensation for land acquisition, employment opportunities, and rehabilitation for affected fishermen.
India restricts jute imports from Bangladesh through specific ports. This action addresses concerns about subsidized jute products impacting the Indian jute industry. The move follows evidence of circumvention of anti-dumping duties. Earlier, similar restrictions were placed on garments and food items. The government aims to protect domestic jute farmers and mills from unfair competition.
Unfair trade practices by Bangla suppliers forced India to restrict import of jute: Officials
4 months ago
India has restricted jute and allied fibre imports from Bangladesh, citing unfair trade practices like anti-dumping duty circumvention that harm Indian farmers. The restrictions, effective immediately, apply to all land and seaports except Nhava Sheva. This action aims to counter these practices, promote self-reliance, and protect the livelihoods of those dependent on India’s jute economy.
Amid Chinese fishing in Indian waters, Mazagon Dock buys controlling stake in Colombo Shipyard
4 months ago
Mazagon Dock Shipbuilders Limited is set to acquire a controlling stake in Colombo Dockyard PLC (CDPLC) for $52.96 million, making MDL the majority shareholder. This strategic move will expand MDL’s production capacity and establish it as a key player in South Asia.
Mazagon Dock Shipbuilders Limited (MDL) will acquire a controlling stake in Colombo Dockyard PLC (CDPLC). The deal is valued at up to $52.96 million. CDPLC is Sri Lanka’s largest shipbuilding and repair facility. This acquisition provides MDL a strategic foothold in the Indian Ocean Region. This move aligns with Maritime Amrit Kaal Vision 2047. It […]