Industry has stated that due to the USD 1,200 per tonne MEP, Indian exporters lose their hard-earned buyer base to Pakistan, which is a competitor of India in this segment. In August, the government decided not to allow exports of basmati rice below USD 1,200 per tonne to restrict possible “illegal” shipment of white non-basmati […]
Govt considers lowering minimum export price on basmati rice to USD 850/tonne
Goyal is here for the 11th meeting of the India-UAE High Level task Force on Investments. He added that trade in domestic currencies will help save at least 5 per cent on all trade between the two countries. The two sides held discussions around creating food and industrial parks in India. India and the UAE […]
The World Trade Organization (WTO) has revised its global goods trade forecast for 2023, cutting it to 0.8% from the previous estimate of 1.7%. The slowdown in trade is attributed to factors such as inflation, high interest rates, US dollar appreciation, and geopolitical tensions. However, the WTO expects a 3.3% growth in trade for 2024.
India and the United Arab Emirates (UAE) have signed a Memorandum of Understanding (MoU) to collaborate in the sharing and development of industries and advanced technologies. The MoU aims to strengthen industries in both nations through investments, technology transfer, and the deployment of key technologies. The areas of cooperation include supply chain resilience, renewable energy, […]
India is buying more Russian oil, despite it being priced above the Western cap of $60 per barrel, due to a resurgent Brent Crude. India has been purchasing Russian oil even though it has breached the G7’s price cap. India argues that it will buy any oil that is cheaper, prioritizing energy security. However, the […]
India has invited Brazilian companies to join its supply chain in order to strengthen economic ties between the two countries. Commerce Secretary Sunil Barthwal, during his visit to Brazil, discussed ways to promote trade and invited Brazilian industries to be part of India’s growing supply chain. The visit took place against the backdrop of a […]
India’s imports of edible oil decreased by 19% in September compared to August, as refiners reduced purchases of palm oil by 26% due to record inventories. The decline in edible oil imports could result in higher stocks of palm oil in Indonesia and Malaysia, affecting benchmark futures.
The Russian government is prepared to ease restrictions on diesel exports to some extent in the near future. This easing of the ban would apply exclusively to diesel exports through pipelines and might include limits on the quantities exported to prevent sudden increases in wholesale prices. However, the prohibition on gasoline exports will continue to […]
British Prime Minister Rishi Sunak has expressed his commitment to strengthening ties between India and the UK, including the possibility of a free trade agreement. During a reception by the Conservative Friends of India, Sunak reflected on his recent visit to India for the G20 Summit and highlighted the potential for cooperation in various sectors.
The European Union has expressed its willingness to negotiate on global trade norms regarding the purchase, stockpiling, and distribution of food to ensure food security. This is seen as a breakthrough as India and 80 other countries have been calling for a deal on food security, arguing that current rules do not adequately address market […]