The ties between the two countries nosedived after India abrogated Article 370 of the Constitution, revoking the special status of Jammu and Kashmir and bifurcating the State into two Union Territories on August 5, 2019.
No bilateral talks or trade with India post-August 2019, says Pakistan
Finding new items to sell overseas is crucial as muted global demand, geopolitical challenges and a drop in crude, commodities and metal prices dragged India’s goods export growth to an eight-month low in July, with outbound shipments contracting 1.47% to $33.98 billion.
India’s exports of medicines have gained significant market share in the US, standing as the third-largest import source in 2023. With exports worth USD 9 billion, India’s share rose to 13.1 per cent. The country also saw notable growth in antibiotics exports to Italy and MRI apparatus exports to Germany, reflecting efforts in boosting domestic […]
Solvent Extractors’ Association of India data showed that imports of non-edible oils, however, increased to 1,88,955 tonnes from 1,32,242 tonnes. The total import of vegetable oils during the first nine months of the current oil year stood at 121.24 lakh tonnes, down 1% compared to 122.55 lakh tonnes in the year-ago period.
Exports contract in July; trade deficit widens
2 years ago
India’s export growth for July fell to an eight-month low due to decreased global demand and declining prices of crude, commodities, and metals. Goods exports contracted by 1.47% to $33.98 billion, mainly due to lower petroleum product exports. Imports increased by 7.45% to $57.48 billion, widening the trade deficit to $23.5 billion. This was driven […]
The Indian government plans to revise its foreign direct investment (FDI) policy, holding stakeholder consultations. Commerce Secretary Sunil Barthwal indicated that the Department for Promotion of Industry and Internal Trade is working on the new policy. There is speculation on easing Chinese investment norms to reduce the trade deficit, as advised by the Economic Survey. […]
India, Russia discussing rupee-rouble trade; reducing non-tariff barriers: Commerce Secretary
2 years ago
India and Russia have engaged in discussions to enhance bilateral trade by using local currencies and reducing non-tariff barriers. Indian officials emphasized easing trade barriers affecting exports, such as meat and pharmaceuticals. The goal is to diversify trade beyond petroleum and reach a bilateral trade target of USD 100 billion by 2030.
India is seeking a review of specific provisions in its free trade agreement (CEPA) with the UAE, which began on May 1, 2022. Commerce Secretary Sunil Barthwal indicated ongoing discussions about value addition norms and customs duty reductions. The UAE is India’s third-largest trading partner, with $83.65 billion in bilateral trade for 2023-24. Concerns have […]
India’s exports to China dropped by 9.44% in July, while imports surged by 13.05%, amplifying a trade deficit. Cumulative data from April-July 2024-25 revealed a deficit of USD 31.31 billion. However, exports to the US and several other nations showed growth, according to commerce ministry data.
Recommendations for taking forward the BIMSTEC grouping with the engagement of businesses of the member states include Finalising a regional FTA in phases, which would lead to quicker implementation and promote investment, job creation, technology partnerships, and services; Industry Partnerships for Deepening Regional Economic Engagement