India’s exports to Australia up 14 pc during Apr-Nov, thanks to trade agreement

India’s exports to Australia surged 14% to USD 5.8 billion from April-November, benefiting engineering, pharma, and electronics sectors due to the free trade pact initiated last December. Negotiations for a broader trade deal are progressing, focusing on detailed rules of origin. Australian FDI in India rose from USD 30-40 million to USD 300 million this […]

Finance Minister Nirmala Sitharaman affirmed on Friday that the Indian government intends to persist in procuring oil from Russia. She mentioned, “Considering the decline in global oil prices, we are maintaining our ongoing oil purchases from Russia.”

The Indian government aims to boost domestic manufacturing and increase exports to USD 500 billion by 2030 from 10-11 sectors, including automobiles, pharma, textiles, medical devices, and chemicals. The Commerce and Industry Ministry held a meeting to discuss these issues, which were discussed during the Chintan Shivir for Manufacturing. The 11 sectors include auto components, […]

The Bab-el-Mandeb Strait, a crucial shipping route connecting the Red Sea and the Mediterranean Sea to the Indian Ocean, is vital for 30 per cent of global container traffic. It has seen increased tensions with various incidents in 2023, including attacks and military manoeuvres by regional and global powers.

The Indian government’s Department of Commerce (DGFT) is collaborating with the Reserve Bank of India (RBI) and other ministries to promote exports through e-commerce. The DGFT is working with departments like revenue, post, MSME, DPIIT, and the RBI to facilitate exports through e-commerce. The new Foreign Trade Policy 2023 has raised the value limit of […]

The Indian government has extended the free import policy for tur and urad dal until March 2025, aiming to boost domestic supply and maintain stable prices. The pulses will continue to fall under the free category, allowing unrestricted imports. This move aligns with the government’s commitment to supporting the agricultural sector.

The step will help SME sectors take advantage of government schemes, further pushing e-commerce exports and boosting overall export growth from the country to achieve the target of USD 1 trillion merchandise exports by 2030.

India on the recommendation of the Commerce Ministry has imposed definitive anti-dumping duty on gypsum board and tiles from China for five years. The Finance Ministry imposed definitive anti-dumping duty on certain Chinese industrial laser machines used for cutting, marking or welding last week.

EAM Jaishankar met Manturov on day two of his five-day visit to Russia on the eve of his meeting with his Russian counterpart Sergey Lavrov. The two ministers held wide-ranging discussions on measures to boost business and trade partnership including increasing Indian investments in Russia to meet growing demands across sectors in the backdrop of […]

Oman ranks as India’s third-largest export market within the Gulf Cooperation Council (GCC) nations. The agreement is anticipated to boost Indian exports further after the implementation of the free trade agreement. Presently, more than 80% of Indian goods face an average 5% import duty upon entering Oman, with few existing trade barriers.