Kolkata Port invites bids to transform 3 vintage river vessels into floating cultural venues

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.

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’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’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 […]

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.

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 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.