The fact that India’s exports between April and January of FY24 were $3.7 billion and its imports, primarily from Russia’s crude oil imports, were $51.7 billion, is what worries New Delhi. Additionally, the bloc has free trade agreements with Iran, China, Vietnam, and Serbia; these agreements may have an effect on the competitiveness of Indian […]
Industry asked to name items from areas where India can be self-reliant
Despite global economic uncertainties, India’s exports increased to 115 countries out of 238 destinations in 2023-24. The merchandise exports slightly declined by 3% to USD 437.1 billion, while services exports rose to USD 341.1 billion. Overall exports (goods and services) reached USD 778.2 billion. India’s rank in world merchandise exporters improved from 19th to 17th, […]
The World Trade Organization (WTO) has predicted global goods trade to slowly recover in 2024 following a contraction last year. The volume of world merchandise trade is projected to increase by 2.6% in 2024 and 3.3% in 2025 after falling 1.2% in 2023, the WTO said last month but cautioned that regional conflicts, geopolitical tensions […]
In December last year, the government allowed duty-free imports of yellow peas until March 2024 which was extended till April and then June.
Indian exporters seek priority shipment for MSMEs at Delhi Airport due to delays caused by Bangladesh transhipment, leading to quadrupled air freight costs. Requests made to suspend transshipment facility for Bangladesh cargo.
India emphasizes reinvigorating WTO discussions on development for tangible progress, highlighting finance, technology, and food security. Marrakesh Agreement crucial. Proposed thematic sessions to address developmental needs.
India lifted its ban on onion exports after five months due to concerns about farmers’ dissatisfaction, potentially impacting voting in seven Lok Sabha seats in Maharashtra. The government’s decision to lift the ban was prompted by concerns about farmers’ dissatisfaction with the high demand for Indian onions in the international market. The new export policy, […]
The two countries told the WTO that they estimated that over the period 2018-19 to 2021-22, New Delhi provided sugarcane subsidy between 91-100%, which was “vastly in excess of the limits set out” at 10% of value of food production in the case of India and other developing countries.
India’s exports of diesel and petrol fell by a fifth year-on-year to $33 billion in 2023-24 due to declining international prices. Diesel generated the largest share of export revenues for Indian refiners, accounting for $22 billion of the $48 billion earned by exports of refined fuels. The war in Ukraine and Western sanctions on Russia […]
The exports of rice to Mauritius are permitted through National Cooperative Exports Limited, the Directorate General of Foreign Trade said in its notification.