Trade
Chinese industrial goods accounted for 30% of India’s 2023-24 imports: GTRI report
29 Apr 2024
China's share in India's industrial goods imports jumped to 30 per cent in 2023-24 from 21 per cent over the 15-year period between 2008-09 and 2023-24, as per a report published by Global Trade Research Initiative (GTRI).
India slashes import duty on EVs to smoothen Tesla’s market entry
18 Mar 2024
India has slashed customs duty on import of ready-to-assemble automobiles, or CKD units, to 15 per cent for a period of five years, in a move that would help EV majors like Tesla enter the Indian market.
India’s April-February trade deficit up $18.71 bn at $225.20 bn
18 Mar 2024
India registered a trade deficit of $18.71 billion in February 2024, taking its trade deficit for April-February 2023-24 to $225.20 billion.
India, 4-nation EFTA sign Trade and Economic Partnership Agreement
11 Mar 2024
India on Sunday signed a Trade and Economic Partnership Agreement (TEPA) with the four-nation European Free Trade Association (EFTA) comprising Switzerland, Iceland, Norway and Liechtenstein.
Japan commits $1.548 bn in ODA loan for nine Indian projects
21 Feb 2024
The Japanese government has extended 232.21 billion ($1.548 billion) in long-term loans to India, under its Official Development Assistance programme, for nine projects in various sectors.
India’s April-January trade deficit down 8.7% at $207.2 billion
15 Feb 2024
India’s overall merchandise trade deficit stood at $207.2 billion in the April-January 2023-24 period against $229.37 billion in April-January 2022-23
India, UAE cement ties with 10 new pacts for collaboration
14 Feb 2024
India and the United Arab Emirates (UAE) have signed 10 new agreements for bilateral collaboration in various fields, including key sectors like energy, infrastructure, investments, and management of archives, in a bid to further strengthen their bilateral relationship.
India, Qatar revive LNG deal with new 20-year term contract
07 Feb 2024
India and Qatar on Tuesday announced the signing of a fresh 20-year contract under which Qatar will supply 7.5 million tonnes of liquefied natural gas (LNG) to India annually for 20 years.
Government reduces import duty on mobile phone components from 15% to 10%
31 Jan 2024
In a recent move to boost the export sector of India, the Ministry of Finance announced on Tuesday, 30th January, 2024, a reduction in the import duty on components used for mobile phone manufacturing.
ACME signs term contract for supply of green ammonia to Japan’s IHI Group
24 Jan 2024
ACME Group, a leading renewable energy company in India, and Japanese heavy industry group IHI Corporation on Tuesday signed a long-term contract under which ACME will supply 4 lakh tonnes of green ammonia from its plant in Odisha to Japan annually.
Hapag Lloyd hikes dry cargo rates from Canada to India, Middle East to $150/TEU
22 Jan 2024
German shipping group Hapag Lloyd has announced a general rate increase (GRI) from Canada West Coast to Middle East and the Indian subcontinent for dry cargo transported in 20TEU and 40 TEU containers
India signs pact for lithium exploration and mining in Argentina
18 Jan 2024
India’s ministry of mines has signed an agreement with Argentinean authorities under which Khanij Bidesh India Limited (KABIL)
Govt working on ePlatform to facilitate international trade
17 Jan 2024
The commerce ministry has commenced work on a Trade Connect ePlatform that will act as an intermediary connecting Indian exporters and entrepreneurs with various stakeholders in international trade
India, Russia to expand ties in energy, military-tech
30 Dec 2023
India and Russia have agreed on a major expansion of bilateral relations, including cooperation in energy and defence production.
India's current account deficit sharply down at 1% of GDP in Q2
27 Dec 2023
India's current account deficit declined sharply to $8.3 billion, or 1 per cent of the country’s GDP, in the second quarter of the current financial year (July-September 2023-24)
India pays in rupee for oil imported from UAE, for the first time
27 Dec 2023
India’s bid to trade in local currency, the rupee, seems to have finally found traction. The United Arab Emirates (UAE) has accepted payment for crude oil in rupee, for the first time.
India’s April-November merchandise trade deficit estimated at $166.35 bn
15 Dec 2023
India added $20.98 billion to its merchandise trade deficit in November 2023, taking the country’s overall merchandise trade deficit for the April-November 2023-24 period to $166.35 billion.
Walmart reduces import dependence on China and shifts focus to India
30 Nov 2023
Walmart, the world's largest retailer, has significantly increased its imports from India while decreasing its reliance on China.
Apple's iPhone makes 62.5% of India’s smartphone exports, amounting to $5 billion
23 Nov 2023
In a remarkable feat, Apple Inc. has witnessed a staggering year-on-year growth of 177% in the export of iPhones from India, reaching a value exceeding $5 billion in the initial seven months of the fiscal year 2024 (April–October)
Warren Buffett's endorsement boosts Mitsubishi's image, easing conglomerate stereotypes in Japan
17 Nov 2023
Mitsubishi Corp., Japan's largest trading house, is experiencing a positive shift in investor sentiment, thanks to Warren Buffett's resounding vote of confidence.
Indian investigators seek to revive the Adani probe and request Supreme Court assistance
17 Nov 2023
Indian investigators are making renewed efforts to reopen a probe into the Adani Group over allegations of coal import overvaluation.
Tesla plans to double auto components imports from India: Goyal
16 Nov 2023
Commerce and industry minister Piyush Goyal has stated that the US electric vehicle maker Tesla plans to double its auto components imports from India.
Indo-Pacific Economic Forum signs Supply Chain Resilence Agreement
16 Nov 2023
The Indo-Pacific Economic Forum (IPEC) on Tuesday signed a Supply Chain Resilence Agreement that aims to make the IPEF supply chains more resilient, robust, and well-integrated.
India-UK free trade deal unlikely by month's end
19 Oct 2023
India and the United Kingdom are unlikely to agree on the expected trade deal by the end of October. It was reported that negotiations are still ongoing
Oil price soars as concerns over supply creep in amid Israel-Hamas conflict
11 Oct 2023
The price of oil rose higher on Wednesday, 11 October, with investors concerned about supply disruptions due to the Israel-Hamas conflict.