India prioritizes energy security for its vast population. The government’s strategy focuses on diversifying energy sources based on market conditions and global dynamics. India maintains open options for crude oil imports from Venezuela and other regions, considering commercial viability. Energy engagement with Venezuela has a long history, with crude purchases resuming in 2023-24 after a […]
Open to import of Venezuelan oil based on viability: MEA
The government will prioritize executing shipping schemes in 2026-27. Key goals include launching three shipbuilding schemes on time and accelerating five National Mega Shipbuilding Clusters. The ministry aims to add significant new capacity over the next three to five years. This focus will boost reliability and create jobs across the maritime sector.
India has backed FORGE, a new critical minerals initiative launched in Washington DC. External Affairs Minister S Jaishankar attended the Critical Minerals Ministerial, a meeting of over 50 nations. Discussions focused on de-risking supply chains and reducing global overreliance on China. India’s support for FORGE signals its commitment to global resource security and strategic partnerships.
Both sides would now work towards completing the technical details and finalising the paperwork for the trade deal so as to expeditiously unlock its potential, Goyal informed Parliament.
India and the Gulf Cooperation Council are set to sign terms for a free trade agreement. This marks a significant step towards a comprehensive trade pact. The agreement aims to boost bilateral trade between India and the GCC bloc. This development follows recent trade deals with the US and EU.
US-India trade deal: India won’t be bullied by Trump and his aides, Ajit Doval told Rubio
1 month ago
India’s national security advisor met with US officials to mend ties after President Trump’s tariffs and criticism. This led to a trade agreement reducing tariffs and boosting US imports, signaling a thaw in relations despite India’s strategic autonomy efforts.
India, Gulf Cooperation Council to ink terms of reference on Feb 5 for starting FTA talks
1 month ago
India and the six-nation Gulf Cooperation Council bloc will sign terms of reference for free trade agreement talks. This marks a resumption of negotiations after earlier rounds in 2006 and 2008. The agreement aims to boost trade between India and countries like Saudi Arabia, UAE, Qatar, Kuwait, Oman, and Bahrain.
Bharat Container Shipping line takes form
1 month ago
Shipping Corporation of India and other entities have formed Bharat Container Shipping Line (BCSL) to boost India’s container trade. This initiative, aligned with the Container Manufacturing Assistance Scheme, will jointly fund port capacity expansion and procure 15 domestically manufactured container vessels in fiscal 2026-27, aiming to anchor India’s container trade in Indian hands.
India and the US have agreed on a trade deal. External Affairs Minister S Jaishankar met with US Secretary of State Marco Rubio in Washington DC. They discussed strengthening bilateral cooperation on critical minerals exploration and mining. The leaders also emphasized the importance of their democracies working together. Discussions covered trade, energy, defense, and technology.
Finance Minister Nirmala Sitharaman hailed the reduction in tariffs by the US as a game-changer for Indian exporters. This development is likely to fortify the Indian rupee and entice more international investments, positioning India as a key player on the global economic stage.