Indian rice lowest offer in Bangladesh tender for 50,000 T

Bangladesh received a lowest offer of $477 per tonne for 50,000 tonnes of rice from India in a tender aimed at securing supplies after devastating floods. While the offer is under consideration, the government plans to import a total of 500,000 tonnes and allow private imports to combat soaring food prices.

India aims to reform its free trade strategy, targeting deals with the UK and the EU while addressing past issues. Current trade negotiations are criticized for being outdated and overly defensive. A new approach could enhance India’s access to strategic supply chains and modern trade practices, possibly empowering negotiators to achieve more effective agreements.

India’s export competitiveness has seen significant gains in multiple sectors over the past five years. Key sectors such as petroleum, gemstones, agrochemicals, and sugar have notably increased their share in global trade, with India becoming a leading exporter in several of these categories, according to commerce ministry data.

Kemi Badenoch becomes the first Black woman to lead Britain’s Conservative Party, succeeding Rishi Sunak as Leader of Opposition. Her victory signals a shift to the right for the party, with likely tougher stances on immigration and climate measures. Badenoch’s tenure and future PM run may affect UK-India relations, especially concerning immigration policies and FTAs.

India and China are reshaping the global economy, shifting focus from G7 nations to the BRICS alliance. The BRICS+ group’s share in global exports has more than doubled since 2000, challenging G7 dominance. High-tech exports from BRICS+ nations are also on the rise. This shift indicates a potential overtaking of the G7’s share in global […]

India and Saudi Arabia explored enhancing cooperation in fertilizers, petrochemicals, and mining to boost trade and investments during meetings between Commerce and Industry Minister Piyush Goyal and Saudi Minister Bandar bin Ibrahim Alkhorayef. The bilateral trade stands at $43 billion in 2023-24, with Indian companies investing significantly in Saudi Arabia.

India’s Commerce Minister Piyush Goyal stated that the country does not view US-China tensions as beneficial. He emphasised India’s self-reliance, democratic strengths, and young population. Goyal also highlighted the role of diplomacy in resolving global issues and discussed opportunities for collaboration in various sectors with Saudi Arabian and international business leaders during the Future Investment […]

India’s gold imports increased by 21.78% to USD 27 billion in April-September 2023-24 due to strong domestic demand, influencing the current account deficit. Silver imports also surged significantly, rising 376.41% to USD 2.3 billion, contributing to a trade deficit of USD 137.44 billion.

India is leveraging its democratic institutions, rule of law, and youth talent rather than seeking advantage from US-China trade tensions, Commerce and Industry Minister Piyush Goyal stated. He emphasized India’s focus on self-reliance and diplomacy for economic and trade dispute resolutions, highlighting its growing global ties.

The World Trade Organization’s dispute settlement body has agreed to another deferral on India’s import duties ruling, pushed to April 25 next year. This gives India and Taiwan more time to resolve the dispute on duties levied on information and technology products. If talks fail, Taiwan might adopt the panel filings, and India could approach […]