New Delhi: India’s aim to clock bilateral trade of $100 billion with Russia by 2030 seems achievable, think tank Global Trade Research Initiative (GTRI) said Thursday, adding that increasing exports, making local currency trading workable and a free trade agreement with the Eurasian Economic Union will help boost trade. It said that India’s main concerns … Read more
With a number of countries approaching India for negotiating bilateral free trade agreements (FTAs) to boost economic ties, the commerce ministry is looking at ways to increase its bandwidth for undertaking these time and human resource consuming talks, a senior official said. The commerce ministry officials at present are negotiating several FTAs with countries including … Read more
The India-China trade, which in recent years rose sharply despite bilateral tensions over the border dispute, showed the first signs of a slowdown in years falling by 0.9 per cent in the first half of this year. This came as China’s overall foreign trade declined by about five per cent as its economy struggled to … Read more
India’s trade with China has declined in the first half of 2023 after more than two years of record growth. Image used for representation purpose only. File | Photo Credit: K.K. Mustafah India’s trade with China declined in the first half of 2023 after more than two years of record growth, part of a broader … Read more
Merchandise exports touched a record $40.38 billion, while imports rose to $59.07 billion, a government source said on Friday, referring to provisional trade data. Monthly trade deficit in March was estimated at $18.69 billion, according to Reuters calculations. Merchandise exports for the financial year 2021/22 ending in March touched $417.81 billion while imports rose to … Read more
India’s exports rose 22.36% to $33.81 billion in February, led by engineering, petroleum and chemicals, preliminary data released by the commerce and industry ministry Wednesday showed. Imports grew 34.9% to $55 billion on the back of a sharp 66.56% jump in oil imports to $15 billion, widening the trade deficit to $13.12 billion. “A rebound … Read more
India’s FY22 current account deficit faces mild upside risk from high commodity prices, said Acuite Ratings & Research. The wider merchandise trade deficits pulled India’s Q2FY22 current account into the negative territory. The current account swung into negative territory with a deficit of $9.6 billion in Q2FY22 from a surplus of $6.6 billion in the … Read more
Commerce and Industry Minister Piyush Goyal on Monday said there was no extraordinary increase in trade with China and that the trade deficit with the neighbouring country has come down to USD 44 billion in 2021 from USD 48 billion in 2014-15. The minister also said that from 2003 and 2013-14, when the United Progressive … Read more
In addition to trade deficit, higher repatriation of investment income also contributed to the current account deficit in the latest The current account – the sum of import and export of goods and services- in the balance of payments ended in a deficit of $ 9.6 billion or 1.3 per cent of GDP during the … Read more
India’s exports jumped 45.17 per cent to USD 33.14 billion in August as against USD 22.83 billion in the same month last year, according to the commerce ministry‘s provisional data. The exports during April-August 2021 stood at USD 163.67 billion, an increase of 66.92 per cent over USD 98.05 billion in the same period a … Read more