India's merchandise exports dipped marginally in March to $41.69 billion, and by 3.11 per cent during the last fiscal year to $437.06 billion mainly due to continued geopolitical turmoil, and depressed global trade. Imports, too, declined in March as well during the entire 2023-24. Trade deficit, or the gap between imports and exports, narrowed 17.74 per cent in March to $15.6 billion and came down 9.33 per cent to $240.17 billion in FY24.
The United States, the United Nations and the European Union have welcomed the announcement by the militaries of India and Pakistan to strictly observe all agreements on ceasefire along the Line of Control (LoC) in Jammu and Kashmir and other sectors, and hoped that it would lead to greater peace and stability in South Asia.
India has flagged concerns over non-tariff barriers (NTBs) faced by its exporters with the Russian government, commerce secretary Sunil Barthwal said on Monday. NTBs faced by Indian exporters are mainly in sectors such as marine products and pharmaceuticals.
We have applied for marketing authorisation to the EMA through AstraZeneca. We will not sell the vaccine in the EU, said a company source.
The EU is challenging the introduction of import duties on a wide range of ICT products, for instance mobile phones and components, base stations, integrated circuits and optical instruments
Trump's sweeping tariffs and penalties on China-built ships have turned global shipping into the front line of economic war, observes Shyam G Menon.
India has already asked the EU member countries to individually consider allowing Indians who have taken Covishield and Covaxin vaccines and want to travel to Europe.
New Delhi has not adhered to the recent G-20 assurances that leaders had agreed at the London meeting last month not to impose protectionist measures, the EU claimed.
The heated exchange between Trump and Zelenskyy and the resulting outpouring of support for the Ukrainian leader highlighted the deep fissures that have emerged between America and Europe over Ukraine.
Leterme contended that there is a need for the United Nations Security Council to adapt to the realities of the 21st century as it requires representation that goes beyond the structures established in the 20th century.
EU special representative for human rights Eamon Gilmore said on Friday that in his meetings with the Indian government he has discussed issues such as the use of sedition and anti-terrorism laws, condition of minorities, communal violence and the situation in Jammu and Kashmir.
The two leaders discussed the Ukraine crisis and several regional and global issues including increasing trade relations and cooperation in the field of mitigating the impact of climate change during their bilateral talks at the Danish Prime Minister's official residence in Mareinborg near Copenhagen.
India, the world's third largest oil consuming and importing nation, in July bought $2.8 billion worth of crude oil from Russia, second only to China which remains the largest importer of Russian oil, a report said. Russia emerged as India's biggest supplier of crude oil, which is converted into fuels like petrol and diesel in refineries, after Russian oil was available on discount following some European nations shunning purchases from Moscow over its invasion of Ukraine in February 2022.
European Union is not contemplating signing free trade agreement with India in the near future and will focus on completion of contentious World Trade Organisation negotiations including agriculture and Singapore issues
India and Brazil raised a trade dispute against the European Union before the World Trade Organization on Tuesday over seizure of generic drugs by EU member countries on high seas.
The European Union has agreed 'in principle' to have a common DNA protocol for basmati, giving a shot in the arm to Indian exporters.
Billionaire Mukesh Ambani-led Reliance Industries has completed the merger of its media assets with the India business of global media house Walt Disney and formed a joint venture with a valuation of over Rs 70,000 crore. The JV will be one of the largest media and entertainment companies in India with a combined revenue of approximately Rs 26,000 crore and will be led by Nita Ambani as its chairperson, according to a joint statement.
India and Italy inked 15 pacts and finalised an ambitious action plan to further expand their ties following a virtual summit between Prime Minister Narendra Modi and his Italian counterpart Giuseppe Conte that primarily focused on ramping up economic engagement.
Calling India one of the most attractive investment destinations globally, vice president of European Commission Jyrki Katainen also complimented the government for its resolve to roll out the GST.
Taking a dig at Europe, Brazil Thursday suggested the European Union to outsource all their calculations to India's computers and mathematicians as it dismissed the allegation that the two countries were fooling everyone on reducing tariffs.
Responding to media queries on the development, ministry of external affairs spokesperson Arindam Bagchi said that "such interference in India's internal affairs is unacceptable, and reflects a colonial mindset".
Italian Prime Minister Silvio Berlusconi has cancelled his visit to India following a gastrointestinal problem.
The European Union on Tuesday decided to lift a ban on the import of mangoes from India after the country made improvements in plant health controls and certification system, clearing the way for them to return to the 28-member bloc.
The European Union on Friday asked India to further open its economy for foreign investments even as the country has taken tentative steps towards liberalising FDI in sensitive defence and multi-brand retail sectors.
Shares of auto component major, Samvardhana Motherson International, has gained 11.5 per cent on the bourses after the company approved the qualified institutions placement (QIP) issue and announced the calculation methodology for its compulsorily convertible debentures, or CCDs, into equity shares. Analysts cite strong investor response to the issue that has kept the sentiment positive for the stock. Brokerages, however, have a mixed view on the outlook for the auto parts supplier.
The issue was taken up at a meeting in New Delhi between Commerce and Industry Minister Anand Sharma and visiting Polish Foreign Minister Radoslaw Sikorski.
The UK voted to leave the European Union after 43 years.
Last week, India lodged a complaint against the EU's measures on PET at the WTO, saying Brussels allegedly violated core provisions of the Agreement on anti-dumping as well as subsidies and countervailing measures. Under the WTO's anti-dumping and anti-subsidy rules, the EU is required to terminate its measures after five years. But Brussels continued to impose them on the ground that the Indian exports could harm the European producers.
The European Union on Thursday said India will surpass 7.0 per cent growth this year and the new United Progressive Alliance government is expected to continue with reforms, including reduction in fiscal deficit.
Opposes Emissions Trading Scheme, which requires carriers flying to or from Europe to offset their carbon emissions
India's exports registered a steepest decline in 13-month falling 9.3 per cent in August to $34.71 billion due to global economic uncertainties, while the trade deficit soared to a 10-month of $29.65 billion. According to the government data released on Tuesday, imports increased by 3.3 per cent to $64.36 billion, which is a record high, due to a significant jump in the inbound shipments of gold and silver.
Birla conveyed to the head of the European Union's legislative body that it was inappropriate for one legislature to pass judgements on another and the practice could be misused by vested interests.
Despite discounts on Russian crude oil - which fell to the lowest since the Ukraine war began - and the rising sanctions, import volumes from the country will remain stable for now or at least till July, said refinery officials. "There is an appetite for Russian crude, and shipments are not expected to taper off beyond this point unless something major happens. "Talks are on, and buying will continue," an official at a major refinery said.
The European Union on Tuesday agreed with New Delhi that there needs to be in place some sort of livelihood security for farmers in agriculture negotiations at the World Trade Organisation
Around 75 tariff lines or products from Pakistan would get concessional access to European markets for three years.
The UK became the first country to exit the economic bloc after 47 years of membership following the vote in favour of Brexit in June 2016.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances