Southeast Asians wary of new conflicts as big powers join ASEAN summit

Indonesian President Joko Widodo urged world leaders to avoid confrontation at a Southeast Asian summit dominated by major power rivalries. The summit, attended by U.S. Vice President Kamala Harris, Chinese Premier Li Qiang, and Russian Foreign Minister Sergei Lavrov, discussed issues such as trade, technology, China’s assertiveness in the South China Sea, and Myanmar’s refusal […]

The two sides agreed to deepen their comprehensive strategic partnership with concrete actions through practical implementation of the ‘Plan of Action’ to implement the ASEAN-India partnership for peace, progress and shared prosperity, said the statement.

The Member States of the Association of Southeast Asian Nations (ASEAN) and India in the ‘ASEAN-Indian Joint Leaders’ Statement on Strengthening Food Security and Nutrition in Response to Crises’ declared to “exchange information on national policy frameworks, particularly for rice and other priority crop commodities.” Rice is a staple and critical component of regular diet […]

British Prime Minister Rishi Sunak expressed confidence in finalizing a free trade pact with India that would be “forward-looking” and “modern.” The deal aims to double trade by 2030 and provide Indian exporters with access to the British market. Sunak stated that good progress has been made in negotiations, although there is still work to […]

India had announced it would remove retaliatory duties on certain US products, including masur, during Prime Minister Narendra Modi’s visit to the US in June. Customs duty of 22% on masur of US origin was made zero effective September 6. This will ease the import of masur directly from the US, instead of being routed […]

Negotiating trade pacts with certain G20 countries and diversifying exports to regions like Brazil and Mexico could help India boost outbound shipments and manufacturing in the years to come, Chairman, CII national committee on EXIM, Sanjay Budhia, said on Wednesday. He said that tapping into opportunities in G20 countries is crucial for India’s economic growth […]

While the supply chain agreement of the IPEF is awaiting comments from various ministries before it is sent for Cabinet approval, officials said negotiations on clean economy and fair economy are progressing well.

Ahead of his first visit to India as UK Prime Minister to attend the G20 World Leaders’ Summit in New Delhi later this week, Sunak updated his top team on the ongoing trade talks which have completed 12 rounds of negotiations. The British Indian leader described India as an “indispensable partner” of the UK across […]

This assumes significance as the new Foreign Trade Policy 2023 is also aimed at promoting exports through the e-commerce medium.

India’s edible oil imports in August rose 5% to 1.85 million metric tons, a record high. In July, India imported 1.76 million tons, which was also a record high. India’s average monthly edible oil imports in the 2021/22 marketing year were 1.17 million tons, trade body Solvent Extractors’ Association of India (SEA) said.