Page 4 - India Trade

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Futures trade in farm commodities won't work with controls

Trade with India saw biggest jump among 15 nations in 1 year: US envoy

US's trade with its top 15 partners increased over the past one year, but the single biggest jump was with India, the country's Consul General in Kolkata Melinda Pavek said. Pavek, while addressing a session here at the East India Summit 2022 organised by the Confederation of Indian Industry (CII), said India-US trade stood at USD 67 billion during the first six months of 2022. "Exports to India were USD 23 billion, while Indian exports to the US stood at USD 44 billion during January-June. "US trade with its top 15 partners has increased over the past year, but I am proud to say that the single biggest jump was with India... US companies are consistently India's biggest source of foreign direct investment (FDI)," she said. In 2021, overall US-India bilateral trade in goods and services was USD 157 billion, as per official data. Some of the top trading partners of the US include China, Canada, Mexico, Japan, Germany, the United Kingdom and France. Pavek also said several US agenc

Staying out of IPEF's trade pillar: There are two sides to this debate

There is no meeting ground between politics which is looking at the elections this year, and economics, which is looking at the next decade

India-Russia trade hits roadblock as Moscow wants ruble for its exports

Moscow is pushing for ruble payment for crude imports after Russia's energy major Gazprom signed a deal with China to start payments for gas supplies to China in yuan and rubles instead of dollars

Export momentum dissipating but new opportunities opening up

Speculation on what the new Foreign Trade Policy, to be unveiled this month-end, may contain has engaged the attention of exporters and importers

CEPA: When it comes to trade with Bangladesh, India is far behind China

China accounted for 10.2 per cent of FDI investments in Bangladesh between 2014 and 2021, India's share was 3.9 per cent

India aspiring to take intl trade to $2 trn by 2030, says Goyal in US

India's goods and services exports crossed $675 billion in the last financial year and the government has set a target of achieving $750 billion for 2022-23

ONDC to soon open up for beta-testing for public in limited areas

Since April-end, ONDC has been testing with a closed user group for end-to-end execution.

Piyush Goyal likely to chair Board of Trade meeting next month

Commerce and Industry Minister Piyush Goyal is likely to chair a meeting of the Board of Trade next month to discuss ways to boost the country's exports, an official said. The Board is an advisory body on the foreign trade policy. It is headed by the minister and includes participants from states, Union Territories, and senior officials from public and private sectors, and provides a platform to discuss ways on boosting manufacturing and exports. The board may meet sometime in mid-September, the official said. Last month, the government nominated 29 non-official members from different sectors, including large and small enterprises, to the Board. The new members include Laghu Udyog Bharati executive member Om Prakash Mittal, India Cellular and Electronics Association chairman Pankaj Mahindroo and Amul MD RS Sodhi. Discussions in the meeting are expected to focus on the new Foreign Trade Policy (FTP 2022-27), ways to take forward domestic manufacturing and exports. The platform pr

Trade with US, China: PHDCCI calls for mass production of commodities

In the fiscal year 2021-22, the US was India's largest trade partner, followed by China

New era for overseas trade as Indian cargo moves via Bangladesh ports

The successful completion of a trial run for trans-shipment of cargo movement from Kolkata to the northeast through Mongla port in Bangladesh marks a new era in connectivity for New Delhi and Dhaka.

Trade settlement in rupee: Fearing sanctions by West, banks seek clarity

Large banks with overseas operations have sought clarity and assurance from RBI that they will not be targeted with sanctions for facilitating rupee trade with a sanction-hit country such as Russia

Govt orders restrictions on export of maida, semolina and wheat flour

Last month, the government had curbed exports of wheat flour and before that it had banned wheat exports on May 13

Why using CPI for REER calculation has been self-destructive for India

Given its stage and uncompetitive infrastructure, India's approach has been largely naïve or self-destructive

Commerce ministry issues norms for engaging consultants

The terms of reference for engagements shall include the functions to be performed and the outputs to be delivered

CII-Exim Bank conclave: Goyal calls for deepening trade ties with Africa

The trade between India and African countries has been balanced with exports of trade and services of about $40 billion and imports of $49 billion, Goyal said

KKR India advisor, TCS CEO among 29 members inducted in Board of Trade

The Board, chaired by commerce and industry minister Piyush Goyal, advises the government on policy measures to improve the country's foreign trade

Explained: INSTC, the transport route that has Russia and India's backing

INSTC is a 7,200 km-long transportation network offering the shortest connectivity route to its member states. It was established on September 12, 2000, by Iran, Russia and India

India's trade with crisis-hit Sri Lanka 'at standstill': Exporters

Exporters are very cautious because of the political crisis and payment issues: FIEO Vice-Chairman Khalid Khan

Asian countries in talks for settling trade in domestic currencies

Countries to accept trading partners' currency; move aimed at reducing dollar dependence