India, Russia plan mega business meet in Moscow on Nov 19

The meet will focus on several tracks — ‘Financial Cooperation’, ‘Cooperation in Pharmaceuticals and Healthcare’, ‘Support for Innovation and Entrepreneurship’, ‘Trade and Logistics’, ‘Tourism and Cultural Relations’, and ‘Digital Transformation and E-commerce’, ET has learnt.

India imported 69.06 million metric tons of Russian oil, equivalent to 1.85 million barrels per day (bpd), between January and September, commerce ministry data showed, including Russian oil imported from South Korea, Greece and Spain through transshipments.

At the end of a three-day visit to India, Kadir told PTI that both sides are keen to expand trade engagement in new and emerging areas such as electronics, semiconductors, fintech, renewable energy, new technology and startups. Ways to further boost the overall trajectory of ties were discussed extensively during talks between External Affairs Minister […]

While US goods imports from China declined by 10% from 2018 through 2022 in inflation-adjusted terms, they rose by 44% from India, 18% from Mexico and 65% from the 10 countries of the Association of Southeast Asian Nations (ASEAN), a recent study by Boston Consulting Group has pointed out.

India, the world’s biggest producer and consumer of pigeon peas, relies on imports during the final quarter of the year before the new crop harvest in January. Over half of India’s imports of pigeon peas are sourced from Mozambique.

Walmart is on its path to meet the company’s goal of sourcing $10 billion in goods from India annually by 2027. Indian sellers have seen double-digit growth on Walmart Marketplace since it opened this year. The company will hold a growth summit in India to further boost exports, scheduled for February 14-15, 2024.

There are reports that the deal could be sealed in December after the state assembly elections. The two sides have differences whether taxation will be included in a proposed investment protection pact, as well as the UK’s demand that tariffs be cut on electric vehicle exports to India.

The ongoing Middle East conflict, primarily affecting Gaza, has had a negligible impact on India’s trade, according to Crisil Ratings. Sectors like fertilizers and diamonds may see slight but manageable impacts, while most others will be unaffected. However, the conflict has raised gold and crude oil prices, and their trajectories are being monitored, given India’s […]

“I will assure you that we are extremely concerned about CBAM…We are taking it up with the WTO very very seriously. We shall try to work and fight to get a fair deal for the Indian producers and exporters and nobody is complacent about CBAM,” he said.

Think tank Global Trade Research Initiative (GTRI) has suggested that the government of India should consider allowing the sale of products manufactured in Special Economic Zones (SEZs) in the domestic market on payment of duty foregone on inputs. This will enable promotion of value addition, the organization suggested.