Union Commerce Minister Piyush Goyal said that India and UAE aspire to expand their bilateral trade to USD 100 billion. While addressing the ‘UAE India Business Summit’ held at the 10th edition of Vibrant Gujarat Global Summit, the Minister underscored the multifaceted nature of the India-UAE partnership, encompassing collaborations in space exploration, security, education, and […]
United States Trade Representative Katherine Tai will travel to New Delhi on 12 January to co-chair the 14th Ministerial-level meetings of the United States-India Trade Policy Forum with Union Minister for Commerce and Industry Piyush Goyal. US Trade Representative Tai will be in New Delhi from 12 January to 14 January. On her first day […]
Exports from India to Australia have grown by 14 per cent to USD 5.8 billion in April-November this fiscal year due to the strong growth of various sectors, such as engineering, pharmaceuticals and electronics, according to a senior official’s statement on 29 December. The interim free trade agreement implemented on 29 December last year has […]
As India’s current account deficit (CAD) narrowed to a lower-than-expected USD 8.3 billion in Q2 FY2024, the higher trade deficit is likely to push CAD sharply to USD 18 to 20 billion in Q3 FY2024, the rating agency Icra has said. Although India’s CAD narrowed slightly on a QoQ basis in Q2 FY2024, the sharp […]
India’s attempt to use the rupee for crude oil imports has not been given the desired outcomes, said the Oil ministry. The suppliers have expressed concerns about repatriating funds and high transactional costs. As per international trade practice, the default payment currency for all contracts for importing crude oil is the USD. However, to globalise […]
European Free Trade Association member countries and India are making “progress” on an agreement on free trade, with officials saying that the two sides have “never been closer” to a pact. In exclusive interviews with ANI on Wednesday, Norwegian Trade Minister Jan Christian Vestre and Swiss State Secretary for Economic Affairs Helene Budliger Artieda commended […]
The discrepancy in official trade figures between India and China has widened this year, fueled by an increase in under-invoicing and potential financial losses to the Indian exchequer, despite efforts by tax authorities to address the issue. In the first 10 months of 2023, the difference between China’s reported exports to India and India’s reported […]
India is worried about Britain’s possible tax on imports of high-carbon goods like steel and wants a mechanism in their planned free-trade agreement (FTA) to address issues arising from such a measure, three Indian sources said. Earlier this year, Britain initiated consultations with domestic stakeholders on measures such as a potential carbon border tax, which […]
Ministry of External Affairs Official Spokesperson Arindam Bagchi has said the India-UK Free Trade Agreement (FTA) was discussed during External Affairs Minister (EAM) S Jaishankar’s meeting with UK Prime Minister Rishi Sunak on his recent visit to the country. “The EAM discussed the FTA with the UK PM and the newly sworn-in foreign secretary. There […]
External Affairs Minister (EAM) S Jaishankar has said India’s trade with Africa today is in excess of USD 100 billion and is fairly evenly balanced. “Our trade with Africa today is in excess of USD 100 billion and it’s actually fairly evenly balanced. It’s not just trade, India is among the top five investors in […]
