India-West Asia-Europe corridor deal offers an alternative to China’s BRI

Leaders of India, US, Saudi Arabia, UAE, Europe, and Japan have announced a joint infrastructure deal to connect Asia with Europe via ports and railroads. The project aims to provide a credible alternative to China’s Belt and Road Initiative (BRI) and address concerns of countries falling into a debt trap.

The G20 reiterated their commitment to reforming the World Trade Organization (WTO) and resolving disputes. They emphasized the need to avoid discriminatory green economic policies and promote fair competition. The G20 also expressed support for positive outcomes at the WTO’s Thirteenth Ministerial Conference.

The IMEC will be comprised of two separate corridors, the east corridor connecting India to the Arabian Gulf and the northern corridor connecting the Arabian Gulf to Europe. It will include a railway that, upon completion, will provide a reliable and cost-effective cross-border ship-to-rail transit network to supplement existing maritime and road transport routes – […]

Indian Prime Minister Narendra Modi and British Prime Minister Rishi Sunak have pledged to work towards a free trade agreement (FTA) during their meeting on the sidelines of the G20 Leaders’ Summit in New Delhi. They discussed cooperation in defence technology, innovation, and consular issues. Sunak expressed the UK’s ambition to deliver a trade deal […]

The six disputes which have been already settled include countervailing measures on certain hot-rolled carbon steel flat products from India, certain measures relating to solar cells and modules, measures relating to the renewable energy sector, India’s export-related measures, certain measures on steel and aluminium products, and additional duties on some products from the US.

The remarks assume significance as the 12th round of talks concluded last month between the officials of the two countries. The talks for the agreement were launched in January 2022. According to the report, Sunak has said that he would not set a deadline for the conclusion of negotiations. Progress has been made, but “we […]

The US and India have resolved their last outstanding dispute at the World Trade Organization (WTO) regarding poultry. India has agreed to reduce tariffs on various US products including frozen turkey, frozen duck, and fresh and processed blueberries and cranberries. This agreement aims to expand economic opportunities for US agricultural producers in the Indian market.

The Gem & Jewellery Export Promotion Council (GJEPC) has facilitated India’s first jewellery exports through courier mode from Mumbai. The total export value was over $1000. Vipul Shah, Chairman of GJEPC, highlighted that enabling exports through courier mode will open doors to new markets and expand the value-added exports from the sector. This move has […]

The WTO’s dispute settlement body (DSB) will meet on September 19 in which it would consider adopting a draft decision shared by India and the European Union (EU). “We consider that the draft DSB decision, if adopted, would facilitate the resolution of the dispute,” according to a communication of the World Trade Organisation (WTO).

Bangladesh has not yet allowed exports of hilsa for the upcoming festive season, triggering tension among Indian fish importers who have been making repeated requests.