Russian Chamber of Commerce & Industry opens office in Mumbai amid big interest of entrepreneurs in India

CCI President, Sergey Katyrin, who is currently heading a Russian delegation of entrepreneurs in India, inaugurated the new office by cutting the ceremonial ribbon alongside prominent Indian officials.

India is engaging in discussions with various countries to seek technical assistance for lithium processing, aiming to bolster its emerging lithium mining and electric vehicle industries and reduce dependence on China. The Ministry of Mines initiated talks with Australia and the US last year, along with private companies reaching out to Bolivia, Britain, Japan, and […]

“We have identified 20 products. At present, India’s share is low in global exports. We are working on a detailed action for all these products,” said Rajesh Agarwal, additional secretary, department of commerce, adding that the action plan will be discussed with all the stakeholders including states for further action.

Azerbaijan has been slow in full implementation of INSTC, which has otherwise contributed to increase in India-Russia trade since 2022. Armenia is also interested in developing a branch of INSTC. While the Kazakhstan-Turkmenistan route is another branch of INSTC, another branch is the Iran-Caspian Sea route.

Heightened tensions between Iran and Israel are expected to increase freight charges and insurance premiums for shipping vessels on global routes. Ships bound for western European countries and the US are particularly at risk. Freight rates have already risen by about $100 per container for ships going through the Red Sea due to disruptions and […]

At a WTO meeting, they argued that the EU’s safeguard duty – brought into force after the United States in 2018 imposed additional duties on certain categories of steel imports from the bloc – was inconsistent with the global trade body’s rules. WTO members, including India, also criticised similar duties imposed by the United Kingdom.

Spices Board of India probes Hong Kong and Singapore’s ban on MDH and Everest products containing ‘ethylene oxide’ pesticide, leading to recalls and health warnings. Offenders risk heavy fines and imprisonment for selling contaminated items.

Smartphone makers are hoping for exports from India to continue their strong showing, which will drive their own growth as production levels are reaching their saturation point if only the domestic market is to be served, said market trackers. “The only headroom for growth right now is by increasing exports from India,” said Prachir Singh, […]

Basmati rice is another agri-commodity which Iran imports from India. In FY24, India exported one million kg of basmati rice to Iran, out of its total exports of 4.9 million kg.

Israel Iran war: As tensions rise, India faces a precarious position due to its friendly ties with both nations and its heavy reliance on energy imports from the region, particularly through the vulnerable Strait of Hormuz. The potential disruption of this critical oil transit chokepoint could have far-reaching consequences for global energy markets and India’s […]