trade

February 20, 2025 4:14 PM

G20 foreign ministers gather amid tensions over trade, Ukraine

Foreign ministers from the G20 top economies were to meet in South Africa on Thursday and Friday, amid tensions between members over the Ukraine war, trade disputes and with the top U.S. diplomat staying away owing to a feud with the hosts. The G20 countries, which represent some 85% of global GDP and three quarters of trade, often struggle to see eye to eye, but geopolitical rifts since Russia's 2022 Ukraine invasion have rendered it more fractious than ever. The discord has increased since P...

February 14, 2025 5:59 PM

Assocham, FIEO hail PM Modi’s US visit as milestone for India-US trade ties

Leading business chambers, Assocham and the Federation of Indian Export Organisations (FIEO), on Friday praised Prime Minister Narendra Modi's visit to the US, calling it a landmark moment in strengthening trade and investment relations between India and the United States. The joint statement that followed the meeting between Prime Minister Narendra Modi and President Donald Trump in Washington, DC, symbolized the continued trust and strengthening of the strategic partnership between India and ...

January 13, 2025 4:09 PM

India faces $14.6 billion tariff burden If US imposes 20% duty: BCG report

India's trade trajectory could face significant headwinds if the United States enforces a 20% across-the-board tariff on imports from the country, according to a report by Boston Consulting Group (BCG). Such a move would add an estimated $14.6 billion in additional duties, with sectors like biopharma and auto parts expected to bear the brunt. The report highlighted that US imports from India totaled $84 billion in 2023, with India currently benefiting from a low effective tariff rate of 3%. How...

November 18, 2024 9:43 AM

India-Brazil trade at USD 15 billion, huge potential: Executive Director, India-Brazil Chamber of Commerce

Executive Director of India-Brazil Chamber of Commerce Leonardo Ananda Gomes highlighted the successful bilateral trade between the two countries, which as of now has crossed the USD 15 billion mark. Gomes also highlighted Prime Minister Narendra Modi's "strong relationship" with Brazil President Luiz Inacio Lula da Silva. "Now the trade between India and Brazil is USD 15 billion, in our opinion we are just starting. There is a huge potential to explore. We are always hosting Indian delegation...

November 7, 2024 4:47 PM

India better positioned than Asian peers on trade linkages with China: report

As global currencies weaken against the U.S. dollar following Donald Trump’s election victory, emerging markets (EMs) are bearing the brunt. However, India appears to be in a comparatively stronger position than many of its Asian peers, particularly due to its lower dependency on trade with China, according to a report by Emkay. The report highlights that India has the smallest exports-to-GDP ratio and the lowest share of exports directed towards China among EM Asian countries, which provides...

October 16, 2024 10:56 AM

India and Colombia agree to deepen ongoing engagement, exploring new avenues of cooperation

India and Colombia reviewed the existing bilateral relations including trade, investment, energy, IT, and identified new areas of cooperation, such as in defence, renewable energy and railways during the 10th round of Foreign Office Consultations (FOC) in New Delhi. Both sides also exchanged views on regional, multilateral, and international issues of mutual interest during the FOC on Tuesday, the Ministry of Externals Affairs (MEA) stated in a release. The Indian delegation was led by Jaideep ...

October 4, 2024 9:27 AM

India regards US as one of our most reliable trade partners: Piyush Goyal

Union Minister of Commerce and Industry, Piyush Goyal, on Friday stated that US-India relations are expanding across various sectors, including trade, technology, and investment. Goyal emphasised that India places great importance on its relationship with the United States. "Let me be clear: India regards the United States as one of our most reliable trade partners. We are increasingly expanding our relations and trade across goods, services, technology, and investment. We deeply value this par...

June 14, 2024 11:10 AM

Stock indices remain firm in opening trade, hover around record highs

Indian stock indices opened higher Friday and hovered around lifetime highs, continuing their uptrend from the previous sessions, primarily due to a moderation in inflation in May - both in India and the United States. At the time of filing this report, Sensex and Nifty traded a touch above their previous day's closing. Nifty sectoral indices were mixed today. India's annual retail inflation eased to a 12-month low of 4.75 per cent in May from 4.83 per cent in April, government data showed on ...

September 16, 2024 6:10 PM

BRICS calls for enhanced use of local currencies in trade between member countries

The BRICS ministers of Foreign Affairs met in Russia's Nizhny Novgorod on Monday and held a plethora of discussions, including an important one on the enhanced use of local currencies in trade and financial transactions between the BRICS countries. At the meeting, the ministers recognized the need for a comprehensive reform of the global financial architecture. "They recalled the paragraph 45 of the Johannesburg II Declaration tasking the Finance Ministers and Central Bank Governors of the BRIC...

June 2, 2024 11:32 AM

China, UAE ready to trade defence and security experiences

China and the United Arab Emirates have emphasised a readiness to exchange experiences on defence and security, with a view to upgrading capacities of military personnel and security institutions in both countries, China's foreign ministry said on Sunday. China said both sides appreciated their defence, military and security cooperation and coordination, the increased visits between both militaries, as well as mutual participation in training, exhibitions and official activities. This was anno...