India’s imports from China up 13%; exports dip 9.44% in July

India’s exports to China dropped by 9.44% in July, while imports surged by 13.05%, amplifying a trade deficit. Cumulative data from April-July 2024-25 revealed a deficit of USD 31.31 billion. However, exports to the US and several other nations showed growth, according to commerce ministry data.

India and Russia have engaged in discussions to enhance bilateral trade by using local currencies and reducing non-tariff barriers. Indian officials emphasized easing trade barriers affecting exports, such as meat and pharmaceuticals. The goal is to diversify trade beyond petroleum and reach a bilateral trade target of USD 100 billion by 2030.

India is seeking a review of specific provisions in its free trade agreement (CEPA) with the UAE, which began on May 1, 2022. Commerce Secretary Sunil Barthwal indicated ongoing discussions about value addition norms and customs duty reductions. The UAE is India’s third-largest trading partner, with $83.65 billion in bilateral trade for 2023-24. Concerns have […]

It is important to create reliable and high-quality infrastructure (Chabahar Port and construction of railway to the port in Iran is very important in this regard), as well as competitive services along INSTC routes, according to Eurasian Development Bank.

“Positive growth in India’s exports could be as a result of India’s continued strong economic activity backed by sustained momentum in manufacturing and services sector, expected global monetary easing and improving demand prospects in trading partners,” the bank said in a statement.

The Reserve Bank of India (RBI) recently took feedback from banks and financial institutions dealing with Russian funds registered in India. Some Russian financial institutions earlier sounded out RBI on a mechanism to let them use rupees lying in special accounts in India, for investment in stocks and securities here.

India Exim Bank projected that India’s total merchandise exports could reach USD 111.7 billion in Q2 FY2025, a 4.2% y-o-y growth. Non-oil exports are anticipated to touch USD 89.8 billion, showing a 6.26% growth. The forecast highlighted economic momentum but also noted risks from geopolitical tensions and supply chain issues.

India’s lab-grown diamond industry has been struggling due to a 65% price drop over the past year caused by overproduction and high imports. GTRI suggests implementing quality regulations and investing in research to improve production processes and enhance the product’s quality. The financial strain on manufacturers is also a significant concern.

TuneCore, a digital self-publishing music service, will boost its investments in India, which has become its third-largest market for new artist additions and revenue growth. Chief Executive Andreea Gleeson highlighted that India is the company’s second-largest office globally by headcount, with 83 employees based in Mumbai since 2020.

The Indian toy export market saw a decline from USD 177 million in 2021-22 to USD 152 million in 2023-24, driven by reduced global demand, said Minister of State for Commerce and Industry Jitin Prasada in a written reply to the Rajya Sabha. Major markets like the USA, UK, and Germany also experienced a drop […]