Union Minister Sarbananda Sonowal will inaugurate the second BIMSTEC ports conclave in Visakhapatnam on July 14, aiming to boost regional maritime cooperation. The two-day event, themed ‘Navigating the Future,’ will gather delegates from BIMSTEC nations, port authorities, and experts. The conclave is expected to strengthen Visakhapatnam’s position as a strategic maritime hub.
Union Minister Sonowal to inaugurate BIMSTEC ports conclave in Vizag on July 14
Experts caution India against rushing into a trade deal with the US, potentially compromising crucial sectors like agriculture. The US’s aggressive tactics, including imposing tariffs on key partners like the EU, highlight the risk of unbalanced agreements. Despite US pressure, many nations resist one-sided terms, urging India to proceed cautiously and protect its core interests […]
India’s trade gap likely narrowed to $20.7 billion as cheaper oil, sluggish gold imports ease June deficit
3 months ago
India’s merchandise trade deficit saw a slight decrease to USD 20.7 billion in June 2025, according to Union Bank of India, driven by lower crude prices and gold imports. Strategic sourcing, particularly increased oil purchases from Russia and the US, helped mitigate global commodity fluctuations.
India’s crude oil imports from Russia surged to a near-annual high in June, reaching 2.08 million bpd, driven by West Asia tensions and discounted prices. While overall imports decreased, Russian volumes increased, with three refineries processing over half for G7+ exports. Despite diversification efforts, Russia remains India’s top supplier, accounting for 40% of total crude […]
China, ASEAN to submit upgraded free trade deal to leaders in October, says China’s foreign minister
3 months ago
China and the Association of Southeast Asian Nations will submit an upgraded free trade pact for approval. The agreement happened after negotiations that started in November 2022. Both parties will collaborate in over 40 fields based on a five-year action plan. They also aim to finalize a code of conduct in the South China Sea […]
Tata Steel has completed its first paperless import transaction using an Electronic Bill of Lading for a coal shipment from Australia to India. This digitized process, facilitated by ICE Digital Trade and involving multiple banks, aims to enhance supply chain efficiency and sustainability. The initiative aligns with Tata Steel’s goal of achieving Net Zero emissions […]
Vizhinjam port marks its first anniversary. Ports Minister V N Vasavan shares the port’s achievements. Nearly 400 ships docked, including ultra-large vessels. Vizhinjam becomes the number one port on India’s south-east coast. The port handled 8.3 lakh containers. Phase two construction costing over Rs 10,000 crore will begin soon. The port aims to be India’s […]
The US is reportedly working towards an interim trade deal with India, potentially setting tariffs below 20%, a favorable position compared to other Asian nations. This arrangement allows for continued negotiations, aiming to resolve outstanding issues before a broader agreement expected this fall.
Switzerland has ratified a significant trade agreement with India and the EFTA. This Trade and Economic Partnership Agreement is expected to be effective in October. EFTA nations plan to invest USD 100 billion in India over 15 years. The agreement aims to reduce trade barriers and boost economic ties. It will streamline customs and enhance […]
India and the US are navigating a complex trade relationship. Talks continue in Washington, focusing on agriculture and market access. Simultaneously, both nations are challenging each other at the WTO. The US questions India’s dairy import rules. India is retaliating against US tariffs on steel and auto parts. This two-track strategy reflects India’s assertive approach […]