Commerce and Industry Minister Piyush Goyal is in London to advance the India-UK Free Trade Agreement, aiming to eliminate duties on key exports and imports. Discussions with UK officials will focus on finalizing the FTA, boosting trade and investment, and doubling trade to USD 120 billion by 2030.
India-UK FTA: Piyush Goyal in London to discuss trade expansion, investment roadmap
Indian refiners have cancelled orders for 65,000 metric tons of crude palm oil due to a sudden surge in Malaysian prices. This decision, impacting deliveries from July to September, was driven by refiners seeking to secure profits amidst market volatility.
Following an Iranian missile strike that damaged the Bazan oil refinery and heightened regional tensions, Adani Group’s Haifa Port investment faces increased scrutiny. Despite denials of damage, the port’s strategic importance to Israel and India’s IMEC corridor plans underscores the risks of operating in a conflict zone.
Govt permits exports of up to 25,000 tn of pharma grade sugar per fiscal under restricted category
1 year ago
The government has authorized the export of up to 25,000 tonnes of pharma-grade sugar annually, under strict regulations, exclusively for legitimate pharmaceutical exporters. Furthermore, the Directorate General of Foreign Trade (DGFT) has enhanced the Trade Connect ePlatform by introducing the ‘Source from India’ feature, facilitating connections between international buyers and verified Indian exporters.
India for addressing asymmetries in cotton sector between developing, developed nations at WTO
1 year ago
India has declared cotton a sensitive domestic matter, advocating for the resolution of longstanding imbalances in the cotton industry between developed and developing nations within the WTO framework. India emphasized the vulnerabilities of its cotton farmers, who cultivate the crop in arid regions, and stressed the need to address asymmetries in support entitlements at the […]
An official highlighted India’s remarkable export growth from 2010 to 2023, citing an UNCTAD report. India’s export share grew by 6.3%, surpassing major economies like the EU, China, and the US. This growth reflects effective trade policies, strong manufacturing and service sectors, and successful export promotion initiatives, boosting India’s global supply chain integration.
India’s gems and jewellery sector faces a downturn in May 2025. Exports and imports witness a decline. This is due to global economic uncertainties and geopolitical issues. Cut and polished diamonds and lab-grown diamonds also see a drop. Gold jewellery exports buck the trend with positive growth. Industry experts hope for improved sentiments following US-China […]
Garden Reach Shipbuilders & Engineers (GRSE) Ltd has secured a contract to build two Coastal Research Vessels for the Geological Survey of India, adding to their portfolio of research platforms. GRSE is already constructing an Ocean Research Vessel and an Acoustic Research Ship. The 64-meter CRVs will support offshore geological mapping, mineral exploration, and ocean […]
India seeks assurance from the US in the finalized bilateral trade agreement (BTA) to prevent additional tariffs by the Trump administration. India requests stability in tariffs, concessions for labor-intensive sectors, and a mechanism to address potential tariff increases. Both countries aim to finalize the BTA before the deadline, with India emphasizing the need for sustained […]
India’s goods exports experienced a slight dip of 2.17% in May, totaling $38.73 billion, while the trade deficit narrowed to $21.88 billion. Despite global uncertainties, exports to the US surged by 16.9%, driven by sectors like electronics and pharmaceuticals.