NITI Aayog initiates study to develop action plan to bridge India’s trade deficit with China

India’s government think tank, NITI Aayog, has started a study to develop a plan to reduce India’s trade deficit with China and align trading strategies with geopolitical risks. The study will analyze India-China trade trends, supply chains, and product categories where India has a competitive advantage. It will also examine barriers to Indian exports and […]

The diplomatic tension between India and Canada has led to a halt in new contracts for the import of lentils from Canada. Importers fear potential retaliatory tariffs from either country. Canada was the largest supplier of lentils to India, accounting for over half of total imports. However, existing contracts are still being honored.

India considers an investment treaty with the UK crucial as the latter is among the top investors in the country. In 2022-23, India received $1.74 billion in foreign direct investment (FDI) from the UK, up from $1.65 billion in the previous financial year. Between April 2000 and March 2023, FDI inflows from the UK amounted […]

The government is likely to bring down the floor price, or minimum export price (MEP) for basmati rice, to $950 per metric ton from $1,200 a metric ton, said the sources, who did not wish to be named because the decision has not been made public.

Commerce and Industry Minister Piyush Goyal will visit Saudi Arabia to discuss ways to enhance trade and investments between the two countries. He will attend the Future Investment Initiative (FII) in Riyadh and meet Saudi Arabian dignitaries, including Energy Minister Prince Abdul Aziz Bin Salman Al-Saud and Commerce Minister Majid bin Abdullah AlKassabi.

Herve Delphin, the newly-appointed envoy of the European Union (EU) to India, has stated that his main focus will be to strengthen the EU-India strategic partnership. Delphin emphasized that the partnership is one of the most significant relationships developed by the EU on the global stage. He aims to boost economic opportunities, promote resilient supply […]

​“Currently, NCEL is operating from a temporary office. We are recruiting staff. So far, we (NCEL) have received orders worth Rs 7,000 crore,” he said. Shah, who launched the new logo and website of NCEL, said the cooperative will ensure that benefits of exports reach member farmers of cooperatives and will share with them about […]

Exports to the US have come down to USD 38.28 bn during April-September 2023 from USD 41.49 bn a year ago. Imports also declined to USD 21.39 bn during the first six months of the current fiscal compared to USD 25.79 bn in the same period last year.

​British rice millers such as Tilda and Veetee Rice have thrived for decades by importing low-tariff unmilled brown rice from the likes of India and Pakistan and “polishing” the grains into the white product loved by UK consumers. But with India pressing for tariffs on white rice to be slashed, and little feedback from British […]

The diplomatic tensions between India and Canada have escalated, with Canada removing 41 diplomats and their dependents from India. This move comes after India called for a reduction in the number of Canadian diplomats in the country. The removal of Canadian diplomats dims hopes for a thaw in diplomatic ties between the two nations. While […]