From spices to steel to drugs, India’s exports are being hammered

India’s path to becoming a developed country hinges on boosting exports, as demonstrated by China’s growth. Leveraging bilateral agreements and FTAs, India is expanding into new markets like Africa and Latin America. Yet, quality issues and trade restrictions pose challenges, such as recent bans on Indian spices in Hong Kong and Singapore. Additionally, green trade […]

Implemented on 1 May 2022, the UAE-India CEPA offers numerous trade benefits, including the elimination and reduction of tariffs, an open trade environment, and enhanced market access for service providers across various sectors. It also addresses technical barriers and provides access to government procurement opportunities.

GTRI highlighted concerns over $700 million India spice exports at risk due to regulatory actions in critical markets. Urgent actions are needed to prevent widespread rejection and ensure the integrity of Indian spice products.

Controversy involving MDH and Everest spice companies threatens India’s spice shipments. Urgent quality resolution highlighted by Global Trade Research Initiative. Concerns raised by multiple countries could severely impact India’s spice exports.

India and Nigeria have agreed to conclude a local currency settlement system agreement to strengthen economic ties. The agreement, signed during a joint session of the India-Nigeria Joint Trade Committee, aims to promote the use of the Indian Rupee and Nigerian Naira for cross-border transactions. The agreement will enhance bilateral trade and mutually beneficial investments […]

India aims to boost exports through e-commerce hubs. Collaboration with ministries and industry experts to enhance export opportunities. E-commerce expected to drive India’s merchandise exports to USD 1 trillion by 2030.

Kazakhstan, Turkmenistan, and Afghanistan aim to bolster transit infrastructure, connecting with India via Iran’s Chabahar Port. Key officials met in Kabul, stressing the need for traffic flow reorientation and infrastructure development. They highlighted the importance of the Kazakhstan-Turkmenistan route within the International North-South Transport Corridor, agreeing to form a working group for implementation.

In April, India increased imports of Russian oil while decreasing imports from Iraq and Saudi Arabia, according to preliminary data from Kpler and LSEG. Despite geopolitical tensions, Russia remained India’s top oil supplier. Indian refiners boosted overall oil purchases by 13-17% but reduced imports from Iraq by 20-23%. Russia’s oil imports are projected to decrease […]

The government is evaluating ways to enhance export competitiveness by examining the export credit landscape. Seeking insights from exporters, it aims to address challenges and improve access to financial resources crucial for international trade. With a focus on reducing the cost of export credit, officials are studying best practices from other countries. This initiative comes […]

FIEO warns of geopolitical tension impact on 2024-25 exports due to global demand. Outbound shipments fell by 3.11% in 2023-24, imports over 8% to USD 677.24 billion. Key factors include freight rates, inflation, and interest rates.