Chabahar port: India, Iran to sign 10-year agreement for operations, EAM Jaishankar confirms

India signed a 10-year agreement with Iran on Monday to manage Chabahar Port, marking its first overseas port management venture. The move, amidst a bustling election season, is viewed as a significant geopolitical gesture towards Iran, with potential regional ramifications. This agreement underscores India’s strategic interest in Chabahar, which serves as a vital link to […]

Since the onset of the COVID-19 pandemic in 2020, the Indian government has implemented the “China Plus One” strategy to attract global manufacturing giants like Apple and Samsung to establish operations in India. While the primary focus has been on increasing exports of smartphones and other high-value products, there has been significant growth in other […]

The discussions for review of AITIGA (Asean-India Trade in Goods Agreement) started in May 2023 to make it more trade-facilitative and beneficial for businesses across the region, the commerce ministry said. A joint committee, which is undertaking the review work, has so far met four times.

The discussions for review of the ASEAN-India Trade in Goods Agreement (AITIGA), to make it more trade-facilitative and beneficial for businesses across the region, started in May 2023. The Joint Committee undertaking the review work has met four times so far and has finalised its terms of reference and the negotiating structure for the review […]

A study by the Asian Development Bank is underway to assess infrastructure needs and identify industry clusters to achieve India’s USD 1 trillion merchandise export target by 2030. In 2023-24, exports dipped to USD 437 billion and imports to USD 675.4 billion. Investments in roads, ports, airports, and railways are crucial for handling the projected […]

India’s coal import surged by 7.7% to 268.24 MT in FY24, driven by lower seaborne prices and anticipated rise in power demand during summer. March FY24 saw an increase to 23.96 MT. Non-coking coal import was 15.33 MT, while coking coal import stood at 5.34 MT. Domestic coal production in FY24 grew by 11.65% to […]

In the fiscal year 2023-24, China has overtaken the US as India’s largest trading partner, with a total two-way commerce of $118.4 billion, as per the data from the economic think tank GTRI. India’s exports to China rose by 8.7 percent to $16.67 billion, while imports increased by 3.24 percent to $101.7 billion. Conversely, exports […]

Amidst geopolitical tensions in West Asia causing a sharp decline in saffron supplies from Iran, Indian saffron prices have surged by over 20% at wholesale and 27% at retail levels, reaching Rs 3.5-3.6 lakh per kg. Kashmiri saffron, renowned for its quality, faces production challenges, with output declining significantly despite receiving a Geographical Indication (GI) […]

The fact that India’s exports between April and January of FY24 were $3.7 billion and its imports, primarily from Russia’s crude oil imports, were $51.7 billion, is what worries New Delhi. Additionally, the bloc has free trade agreements with Iran, China, Vietnam, and Serbia; these agreements may have an effect on the competitiveness of Indian […]