India’s External Affairs Minister S Jaishankar highlighted that the growing trade between India and Russia is not a passing trend but a result of emerging economic prospects. He emphasised the long-standing relationship between the two nations despite India’s stance on the Ukraine conflict. Trade has seen a significant increase with India becoming a top buyer […]
India’s spike in trade with Russia not ‘temporary phenomenon’, says S Jaishankar
In New Delhi, on Thursday, FIEO President Ashwini Kumar projects India’s merchandise exports to reach USD 500-510 billion by 2024-25, with services exports expected to be around USD 390-400 billion this fiscal, driven by traditional markets like the US and Europe.
FIEO pegs FY25 goods exports at $500-510 billion
2 years ago
The apex exporters body also hasn’t ruled out dumping of Chinese goods in the wake of the US imposing high duties on goods such as EVs, batteries and high end technology products.
The US warns of potential sanctions on dealings with Iran after India signs a 10-year contract on Chabahar Port. External Affairs Minister S Jaishankar stresses the project’s regional benefits, citing past US acknowledgment. India Ports Global Ltd has operated in Chabahar since 2018 under a sanctions waiver. Despite US warnings, India aims to avoid involving […]
Exports up 1% in April, yet trade gap widens
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India’s goods exports grew 1.06% to $34.99 billion in April, with a trade deficit of $19.1 billion fueled by increased gold imports. Switzerland replaced Russia as a key import source. Challenges include rising petroleum imports and ongoing FTA discussions with the UK.
India plans to establish an SOP for negotiating FTAs, addressing labor, environment, gender, and indigenous peoples. The Chintan Shivir will discuss strategies for FTAs, including the Carbon Border Adjustment Mechanism and critical minerals.
Financial Services Secretary Vivek Joshi emphasized the importance of increasing Free Trade Agreements (FTAs) to boost India’s financial services exports during a workshop on financial services in FTAs. The event, jointly organized by the Department of Financial Services (DFS) and Exim Bank, aimed to explore the role of financial services in FTAs and their impact […]
Several steps taken to prevent EtO contamination in spices exported from India: Official
2 years ago
India has implemented measures to prevent the contamination of spices exported from the country with EtO (ethylene oxide), a carcinogenic chemical, following reports of recall of products from Indian spice brands in Singapore and Hong Kong. The Spices Board has mandated testing of spice consignments destined for these regions and conducted a root cause analysis, […]
India’s palm oil imports rose 34.11% to 6,84,000 tonnes in April, led by lower global prices. Vegetable oil imports, including RBD palmolein and CPO, surged. Soybean and sunflower oil prices also fell, driving higher imports.
GTRI warns of China dumping in India due to US tariffs. India can gain from higher duties on medical items. Trade with China surpasses that with the US. GTRI advises vigilance by Indian trade authorities, ramping up production for US market exports.