India is set to increase coking coal imports from Russia as supplies from Australia, its top supplier, drop and steel mills grapple with rising prices. Indian steel mills have faced challenges due to erratic supplies from Australia, which usually accounts for over half of India’s annual coking coal imports of about 70 million tonnes.
India to step up coking coal shipments from Russia
“Technical textiles is a sunrise sector and the future of this industry,” said a government official, adding that ambitious targets have been set for it.
India needs to position itself as global mfg hub as China witnessing repeated outbreaks: GTRI
2 years ago
A health ministry statement on November 26 said that the Government of India is closely monitoring the situation and indicated that there is no need for any alarm. The report said that China supplies more than 90 per cent of laptops and produces most components in-house. The same applies to washing machines, solar PV cells […]
Commerce ministry working to remove trade barriers, boost exports in sub-Saharan Africa, Gulf nations
2 years ago
The major trading partners of India in that region in 2022-23 were South Africa (total trade USD 18.9 billion, exports USD 8.5 billion); Nigeria (USD 11.85 billion, exports USD 5.15 billion); Togo (USD 6.6 billion, exports USD 6 billion), and Tanzania (USD 6.5 billion, exports USD 3.93 billion).
We have seen a huge increase, a large increase in percentage points in the import. We are very happy to import from India as well, we’re a trading economy. So, an increase in imports from India is also a welcome thing. (It is) Of course a result of you producing even better services and products. […]
India’s bilateral FTA with Singapore and as part of Asean needs to be studied together: GTRI
2 years ago
The think-tank GTRI (Global Trade Research Institute) has recommended that the government undertake a thorough examination of the bilateral free trade agreement with Singapore. This suggestion comes in the context of an ongoing review of India’s trade pact with the 10-nation ASEAN bloc.
“The drafting process deviates substantially from the accepted practice at the WTO,” India, South Africa and Egypt said, adding that the “format and pace of the discussions have made it challenging” for most developing countries to effectively participate, consult with capitals, present their views, submit comprehensive proposals and review the progress.
As local exotic flowers bloom, imports wilt
2 years ago
Among the much-in-demand blossoms, India’s production of chrysanthemums rose 136% from FY16 to 470.15 tonnes in FY22, while that of orchids was up 210% over the same period. On the other hand, India’s imports of fresh and dried flowers, flower buds, bulbs and tubers almost halved during FY15 to FY23.
India-Japan’s External Affairs Minister, S. Jaishankar, highlighted the growing partnership between the two countries at the 6th India-Japan Indo-Pacific Forum. The partnership includes various initiatives such as the Quad, supply chain resilience initiative, clean energy partnership, semiconductor supply chain partnership, and the Indo-Pacific Economic Framework for Prosperity (IPEC).
Process afoot to capture MSME trade data
2 years ago
Anil Bhardwaj, secretary general, Federation of Indian Micro and Small & Medium Enterprises (FISME), said that product-wise data will help industry gain concessions in India’s free trade agreement negotiations and help improve its market access, policy making and competitiveness. This assumes significance as many of India’s FTAs have separate chapters on MSMEs. “We will get […]