Japan and South Korea have voiced concerns over delayed Indian import clearances, citing regulatory issues like quality control orders and safeguard duties. Indian officials state that only shipments with inadequate documentation are being held, emphasizing no country-specific bias. Meanwhile, India’s domestic steel sector anticipates a significant boost in capital expenditure.
Japan, South Korea raise concerns about India’s steel import restrictions
India and Canada have officially begun talks for a Comprehensive Economic Partnership Agreement. This marks a new chapter in their trade relations. Both nations aim to finalize the pact by the end of 2026. They have set a target to increase bilateral trade to 50 billion dollars by 2030. This agreement will cover goods, services, […]
Indian ships are told to avoid West Asian ports and the Strait of Hormuz. Major shipping companies have suspended bookings and rerouted vessels. The Strait of Hormuz is closed. This is a precautionary measure amid regional conflict. About 25 Indian vessels are being monitored.
Escalating Iran-Israel tensions threaten India’s energy security, potentially raising oil prices and inflation. Disruptions in West Asia, a crucial $178.5 billion trading bloc for India, could impact the rupee and force exporters to find new routes. The Strait of Hormuz, vital for energy imports, remains a key chokepoint.
Indian onion exports to West Asia have stopped. Major ports in the region closed operations on Sunday. This has suspended vessel movements. Consignments are now stranded. The disruption occurs during the Ramadan shipping window. Overseas demand typically surges by 30% at this time. Farmers in northern Maharashtra face subdued prices.
India’s electronics and tech exports to the Gulf face potential disruption due to the Iran conflict. The UAE, a major buyer, has seen its infrastructure targeted. Shipments to the UAE and Saudi Arabia, crucial markets for Indian electronics, rely on routes through or near Iranian airspace. This situation is being closely monitored by the government.
The Central Board of Indirect Taxes and Customs is launching a new facility for manufacturer importers. Approved companies can now defer customs duty payments. This move aims to boost cash flow and support domestic manufacturing. The scheme will be operational from April 1, 2026, to March 31, 2028. Eligible firms will pay duties monthly instead […]
Indian exports of rice, tea, and fruits to Africa and West Asia face significant disruption. Joint military operations by the US and Israel, and Iran’s retaliation, are expected to impact maritime traffic. This could lead to longer shipping times and increased costs for goods destined for Western markets. The situation creates uncertainty for major buyers […]
India’s Directorate General (DG) of Shipping issued advisories for seafarers presently in Iran, Strait of Hormuz, Persian Gulf and adjacent waters including those awaiting joining of vessels or awaiting wages and safe repatriation after sign-off. In a separate advisory for Indian flagged vessels, the DG shipping said all ships operating in or near the region […]
Canada-India negotiating economic partnership agreement to double two-way trade by 2030: PM Carney
1 week ago
Canadian Prime Minister Mark Carney announced that Canada is negotiating a comprehensive economic partnership agreement with India, aiming to double bilateral trade by 2030. The agreement is expected to be signed by the end of the year. Carney highlighted opportunities in food, energy, critical minerals, and technology, emphasizing a strategic partnership for mutual prosperity and […]