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Foreign Trade
India's February palm oil imports down 27% yr/yr to 9-month low
India imported 394,495 tonnes of palm oil, down from 540,470 tonnes a year earlier, the Solvent Extractors' Association of India (SEA) said in a statement.
Indian investments to help Sri Lanka achieve higher growth trajectory, create more jobs: Prabhu
"India would like to ensure that we make investment in Sri Lanka for the benefit of Sri Lankans... Investments from India will create local jobs in Sri Lanka which will propel Sri Lanka in the higher growth trajectory," Prabhu, who is also India's Sherpa to G20 and G7 summits, said.
Neighbourhood First: A lot is going on behind the scenes as India, Bangladesh attempt to break with the past
India and Bangladesh working together closely is a break from the past. What is different at present is the large ambit of the bilateral cooperation that has delivered gains to the common people on both sides. Through the demonstration of the benefits of bilateral cooperation, the economic momentum will be able to win over the political naysayer.
UK hasn’t sought flexibility in India’s data norms in trade, invest pact: Govt tells Parliament
During the trade ministerial meeting between India and the UK held on February 6, 2021, it was agreed to launch an Enhanced Trade Partnership (ETP) during the visit of the UK Prime Minister to India, later this year and both sides are “accordingly extensively engaged” with each other to finalise the modalities of the ETP.
EEPC looks to increase exports of engineering goods, sets its sights on North America
The major engineering goods exported from India to the North American region include electric machinery and equipment, products of iron and steel, pharma items and auto components among others.
Seamless Indo-Bangladesh connectivity to increase national incomes in both countries: World Bank
Titled “Connecting to Thrive: Challenges and Opportunities of Transport Integration in Eastern South Asia,”the report analyzes the Bangladesh-Bhutan-India-Nepal (BBIN) Motor Vehicles Agreement (MVA); compares it with international best practices; and identifies its strengths as well as gaps for seamless regional connectivity.
Free trade agreement (FTA), India-EU will be negotiated at aggregate level says Swedish envoy Klas Molin
Sweden Ambassador to India, Klas Molin, on March 06 said that the Free Trade Agreement (FTA) between the European Union (EU) and India will be negotiated at an aggregate level as per the special mechanism set up during the last summit. "Trade agreements, as Sweden is member of EU, is negotiated by European Commission. Talks on for investment and trade, special mechanism was set up during last summit between India and EU so agreements on it will be negotiated at aggregate level," said Molin. On Mar 05, Prime Minister Narendra Modi held a virtual interaction with his Swedish counterpart Stefan Lofven where the two leaders discussed bilateral ties and called for further cooperation on climate change. (ANI)
India likely to start full operations at Iran's Chabahar port by May end
India has been developing a part of the port on Iran's south-eastern coast along the Gulf of Oman as a way to transport goods to Iran, but also Afghanistan and central Asian countries, and avoiding rival Pakistan.
Singapore top source of FDI in Apr-Dec into India
The government on Thursday said that FDI equity inflows rose 40% year-on-year in the April-December of FY21 at $51.47 billion compared to $36.77 billion in the year ago period.
India is the number one country in Asia for Polish investors: Envoy
In an interview with ET’s Dipanjan Roy Chaudhury, Poland’s Ambassador to India Adam Burakowski said India is the number one country in Asia for Polish investors and bilateral trade has grown seven-fold over the last decade.
Indian merchants almost halt exports to Iran as its rupee reserves fall: Officials
India's overall exports to Tehran fell 42% in 2020 from a year ago to $2.2 billion, the lowest in over a decade, said an official with India's Ministry of Commerce and Industry.
African, Caribbean nations support India at WTO on COVID vaccine supplies
During a discussion at the WTO (World Trade Organisation), a group of Latin American member states including Colombia, Costa Rica, Ecuador, Panama and Paraguay have also expressed their concerns on the export restrictions imposed by European Union on COVID-19 vaccines and their trade distorting impact.
India, Singapore must focus on fintech, industry 4.0 and smart cities to elevate their strategic partnership
Singapore is a global hub of fintech and India can learn its strengths from through active collaboration. Simultaneously in order to attract investments from Singapore to India a suggestion was put forward on the creation of a manual comprising do’s and don’ts for establishing businesses in various Indian states.
India's cotton exports likely to rise 50% this year to 75 lakh bales this year
The exports can see a further boost if Pakistan opens its market for Indian cotton, said Mahesh Sharda, president of Indian Cotton Association. Trade between the two countries has been suspended since 2019.
India urges WTO members to reach consensus on TRIPS waiver proposal
In October 2020, India and South Africa submitted a proposal suggesting a waiver for all WTO members on the implementation, application and enforcement of certain provisions of the TRIPS Agreement in relation to the prevention, containment or treatment of COVID-19.
India’s policies trade-restrictive, Make in India epitomises challenges to trade relationship: US
In its trade agenda for 2021, Washington said that the recent Indian emphasis on import substitution through the Make in India campaign has “epitomized the challenges” facing the bilateral trade relationship though India’s large market and economic growth make it “an essential market” for many American exporters.
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