India, Brazil target over 3-fold rise in bilateral trade to USD 50 bn by 2030: Commerce Secretary

India and Brazil have set an “aspirational” target of increasing two-way trade to $50 billion by 2030, according to Commerce Secretary Sunil Barthwal. The current bilateral trade stands at $15.2 billion, and the two countries are aiming for $30 billion in the next 3-4 years. During discussions, the two sides also explored market access issues […]

The Indian government has extended the export duty on parboiled rice until March 31 next year. This move aims to maintain sufficient local stock and control domestic prices. The restrictions apply to all varieties of non-basmati rice, which make up about 25% of the country’s total rice exports. Earlier, the government also banned the export […]

India’s imports from Russia have increased by 67% to $30.42 billion during April-September this fiscal year. This surge is mainly due to higher shipments of crude oil and fertilizers. As a result, Russia has become India’s second-largest import source in the first half of this fiscal year. Russia’s share of India’s oil imports has risen […]

India is considering extending an export levy on parboiled rice to control local prices before key polls, potentially raising the risk of higher global food inflation. The government may extend a 20% export levy, due to expire on October 15, to keep a lid on domestic prices.

The IMEC was a landmark moment for India, promising to make it a big player in global trade. But now the Gaza war casts a shadow over this ambitious project and has dampened the spirits.

India’s diesel exports to Europe reached a record high in September, driven by arbitrage profits and a seasonal decline in domestic demand. The surge in exports will help Europe build commercial stockpiles ahead of the winter heating season and limit price gains. However, experts predict that export volumes are unlikely to continue at the same […]

According to ET Now sources, the export curb is due to poor seasonal monsoon rainfall which is vital for India’s $3 trillion economy. It brings nearly 70 per cent of the rain the country needs to water crops and replenish reservoirs and aquifers, reported Reuters.

The International Monetary Fund’s executive director, KV Subramanian, believes that India will be able to handle the spike in crude oil prices caused by the conflict in Gaza. He stated that India’s strong handling of the pandemic and its balanced approach to supply and demand measures have positioned the country well. However, he noted that […]

India and the UK are expected to sign a free trade agreement (FTA) at the end of this month, marking India’s first comprehensive deal with an industrialized nation. The agreement aims to boost bilateral trade beyond the current $20 billion. India has invited UK Prime Minister Rishi Sunak to visit India on October 28 to […]

The ongoing conflict between Hamas militants and Israel is likely to impact India’s ambitions of playing a bigger role in global trade. The recently announced India-Middle East-Europe Economic Corridor (IMEEC) may be affected by the conflict, leading to concerns in the markets. Oil prices have surged, gold demand has increased, and Indian stocks have tumbled […]