ASEAN co-chair rebukes Piyush Goyal over ‘B-team of China’ remark

Piyush Goyal’s remarks, labeling some ASEAN nations as China’s “B team,” have sparked displeasure. During an India-ASEAN meeting in Kuala Lumpur, the Malaysian co-chair strongly criticized Goyal’s comments, particularly concerning the ASEAN-India trade agreement review. Several Southeast Asian officials expressed surprise, noting India’s significant trade with China.

Escalating tensions between Iran and Israel threaten India’s trade with West Asia, impacting exports and potentially disrupting key routes like the Strait of Hormuz. This could inflate oil prices, increase shipping costs, and strain supply chains, particularly affecting agricultural exports and energy security. Broader regional conflict poses significant risks to India’s economic interests and trade […]

India’s preferential certificates of origin for Australia and UAE saw a rise in 2024-25. Commerce ministry data shows increases of 19% and 24.7% respectively. This indicates greater use of free trade agreements by Indian exporters. Total certificates granted reached 7,20,996. Increased awareness and utilization of these agreements are expected to boost India’s global trade position.

Amidst the Iran-Israel conflict, Indian exporters are considering shifting cargo operations. Bandar Abbas port may become unreliable. Chabahar port is being explored as an alternative. Air freight rates have already increased. Further escalation could disrupt trade with Afghanistan, Central Asia, and Russia. The commerce ministry is assessing the situation. Feasibility of shifting to Chabahar is […]

India has suspended tea exports to Iran due to the escalating conflict with Israel, disrupting communication and business operations. This halt impacts premium orthodox tea shipments worth Rs 100-150 crore, with concerns rising over access to the Strait of Hormuz affecting overall West Asian tea trade.

India is actively pursuing free trade agreements with various countries. The focus is on developed nations, mineral-rich countries, developing economies, and neighboring countries. Negotiations are underway with the United States, the European Union, Chile, and others. The government aims to secure critical resources and boost exports.

Colloidal precious metals refer to mixtures where nanoparticles of gold or silver are suspended in a liquid. ​​Industry specialists have said that certain importers were exploiting this method to bring in goods from nations such as Thailand.

The Indian government has implemented anti-dumping duties for five years on aluminium foil, Pretilachlor, and Acetonitrile imports from China, Taiwan, and Russia. This action follows investigations by the Directorate General of Trade Remedies, which revealed that these countries were engaging in unfair trade practices by selling these goods at significantly lower prices, thereby harming domestic […]

Commerce and Industry Minister Piyush Goyal stated India is prioritizing strong trade agreements with developed nations, citing deals with the UK, Australia, UAE, and EFTA. Goyal criticized past agreements with competitors like ASEAN, indirectly benefiting China. The focus now shifts to complementary economies like New Zealand and the Gulf region, alongside ongoing talks with Chile […]

China is poised to significantly increase its rapeseed meal imports from India, potentially reaching a record 500,000 metric tons in the 2025/26 marketing year. This surge follows China’s imposition of a 100% tariff on Canadian rapeseed meal, making Indian supplies more competitive. Increased crushing in India, driven by Chinese demand, is also boosting rapeseed oil […]