India Trade

The central bank's report seeks to nudge banks and financial institutions to catalyse risk mitigation from climate change

The government is planning to develop an eastern grid with 5,000 kilometres of navigable waterway to boost regional integration and trade with South Asia and Eastern South Asia, Union minister Sarbananda Sonowal said on Wednesday. Sonowal further said with the seamless connection between National Waterway-1(Ganga), NW-2 (Brahmaputra) and NW-16(Barak), the government is keen to create an opportunity via an economic corridor of 3,500 kilometres connecting the Northeast India with the rest of India via Bangladesh. "The government is working extensively to develop the Eastern Grid with more than 5,000 kms of navigable waterways. "...the development of this grid will not only boost regional integration & accelerate development but it will further deepen eastern India's trade within BBIN countries (Bangladesh, Bhutan, India, Nepal)," he said at an event organised by industry body PHDCCI. According to Sonowal, it will also further amplify trade potential with countries like Myanmar, ...

India's production-based estimates of CO2 emissions rose 63 per cent, from 1.6 billion tonnes in 2009 to 2.6 billion tonnes in 2019, reveals an analysis of numbers from tracker Our World in Data

Merchandise exports witnessed annual contraction in 16 of the 30 key sectors last month

At the conclusion of the seventh round of India-UK free trade agreement (FTA) negotiations and ahead of the eighth round scheduled in New Delhi next month, a senior industry expert in the UK believes there are encouraging signs of appetite on both sides to agree a deal and fully utilise its benefits. Syma Cullasy-Aldridge is the Chief Campaigns Director at the Confederation of British Industry (CBI) and has just returned after leading the group's first-ever business delegation to New Delhi and Mumbai aimed at unlocking opportunities of a potential FTA. The Indian-origin campaigns chief for the industry body, which speaks on behalf of 190,000 UK businesses of all sizes and sectors, described the visit as really, really brilliant in highlighting the immense scope for partnership and collaboration across key sectors. What really struck me was the opportunity and appetite on both sides for collaboration and partnership around key sectors like green finance, innovation and new technology

Growing pressure on global regulators to shorten settlement cycle, say experts

India has opted out of the trade pillar as broad consensus had not emerged on issues pertaining to labour, environment, digital trade, and public procurement

Delhi Chief Minister Arvind Kejriwal on Wednesday slammed the BJP-led Centre for maintaining trade relations with China despite its aggressive stance, and called for its boycott to send out a strong message. Addressing a Republic Day function organised by the Delhi government at Chhatrasal Stadium here, Kejriwal alleged that China is procuring more weapons to use against India with the very money it earns doing trade with us. "A leading newspaper today reported that China has occupied some of our land. This is worrisome for every Indian. Our soldiers are bravely facing China at the border and it is our duty to support them in this fight. "It is our duty to boycott China and send out a strong message," he said at the event. The Chief Minister asked the central government what action it took against China's incursions into Indian territory and allegedly even occupying some of our land. "On one hand China is occupying our land and on the other hand we are increasing our trade with ..

India shipped 5 million eggs to Malaysia in December and will ship 10 million in January and up to 15 million in February, according Kumar

Announcement of measures like quick refund of duties, resolving inverted duty issues and bringing exports through post and courier at par with standard customs clearances in the forthcoming Budget

The rupee gained 9 paise to 81.29 against the US dollar in early trade on Monday supported by broad dollar weakness and a firm trend in domestic equities. Forex traders said sustained foreign fund outflows weighed on investor sentiments and restricted the appreciation bias. At the interbank foreign exchange, the domestic unit opened at 81.29 against the dollar, registering a rise of 9 paise over its previous close. On Friday, it depreciated by 8 paise to close at 81.38 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.32 per cent to 101.87. Brent crude futures, the global oil benchmark, fell 0.53 per cent to USD 84.83 per barrel. According to Sriram Iyer, Senior Research Analyst at Reliance Securities, the Indian rupee opened stronger on Monday, tracking a weak dollar and a possibility of smaller rate hike from the US Fed in February. Most of the Asian peers were stronger this morning, and stable

The CBIC on Wednesday came out with a mechanism to check the undervaluation of imported goods under which two committees comprising tax officers will be set up for screening and evaluation

The crucial India-US Trade Policy Forum meeting here is unlikely to make much progress, given the sharp differences, but would hopefully ignite trade talks between the world's two largest democracies, according to eminent trade experts. Minister of Commerce and Industry Piyush Goyal, who is in the US on an official visit, held a series of meetings with the CEOs of investment and financial giants in New York on Monday. He will attend the 13th Trade Policy Forum (TPF) meeting being hosted by US Trade Representative Katherine Tai in Washington on January 11. Goyal will also hold a bilateral meeting with Tai. TPF is a platform for continuous engagement between the two countries in the area of trade and to further bilateral trade and investment relations. The 12th TPF Ministerial was held in New Delhi on November 23, last year after a gap of four years. There was no TPF in 2022. There will be some glossing over of serious bilateral trade problems, positive language on the architecture

The Indian economy and exports will be moderately impacted in 2023 by weak global demand and recession in large economies and to improve its current account, the country should aim at reducing energy import bill, economic think tank GTRI said on Tuesday. The Global Trade Research Initiative (GTRI) said that in 2022, India will pay USD 270 billion in imports of crude oil and coal, which is about 40 per cent of total merchandise import bill. India must re-energize exploration of local oil fields and enhance production through coal mines. Any development will cut the energy import bill substantially and improve the current account, it added. It also said the US effort to create alternate supply chains excluding China is gradually leading to restructuring of global supply chains and relocation of few large manufacturing firms shows that India is in a good position to benefit from this trend. India should do so without compromising its strategic autonomy, it said adding that in various

India gets preferential access to all products it exports to Australia

"We are seeing a huge surge of interest in India from Russian businesses. And, most importantly, across the spectrum - from large to small business"

In its initial findings, the UK's Trade Remedies Authority (TRA) has proposed that a countervailing measure on imports of stainless steel bars and rods from India be revoked. Countervailing measures are put in place to offset imports being sold at unfair prices due to government subsidies in their country of origin. The TRA set out in its Statements of Essential Facts (SEF) on Tuesday that revoking the measure would be unlikely to cause injury to the UK industry. "As part of its transition review, the TRA found that while there have been subsidised imports of the goods while the measure has been in place, and this will likely continue, injury to UK industry would be unlikely to recur if the measure was no longer applied," a UK government statement notes. "This was determined after the TRA found evidence suggesting that UK producers supply only limited amounts of these bars and rods to the UK market, with the majority of their production being exported. Therefore, the TRA found there

The importance of China as India's top trading partner cannot be understated

Containing imports will not help

How the oil price cap will actually play out is not clear, but our government remains unfazed because the cost of crude is anyway on a downward trend