A five member Egyptian trade delegation called on Commerce and Industry Minister Arun Jaitley on Thursday.
Prime Minister Narendra Modi and United States President Donald Trump on Monday vowed to work towards a 'trusted' partnership with a focus on boosting India-US cooperation in areas of trade, energy and defence in their first phone conversation since the American leader's inauguration last week.
Bilateral trade was close to $4.2 billion last year, said Canadian Minister of International Trade Peter Van Loan. "Both the Governments have set a target of increasing the mutual bilateral merchandise trade to USD 15 billion in the next five years.
India's trade with China will touch the 100-billion dollar mark in the next five years, coming close to bilateral trade target with the European Union by 2013.
'Don't play the American game... India is too big for a US game.'
S&P Global Ratings on Monday said several Asia-Pacific economies could face higher tariffs under the Trump administration, while India, South Korea, and Thailand could be most vulnerable to trade retaliation. In its report titled 'Asia-Pacific Economies Likely To Be Hit By US Trade Tariffs', S&P said economies like Vietnam, Taiwan, Thailand, and South Korea have relatively greater economic exposure to the US, meaning that tariffs, if imposed, would have the largest economic impact.
"It is shocking to note that Turkey, the second-largest arms supplier to Pakistan after China, has played a key role in modernising Pakistan's navy and enhancing its aerial warfare capabilities. "This defence collaboration is not just commercial; it is ideological, targeting the stability of South Asia and emboldening Pakistan's military adventurism," SJM national co-convenor Ashwini Mahajan said in a statement.
In 2011-12, the bilateral trade between the two countries stood at $75.45 billion.
The bilateral trade between India and Brazil is expected to cross $6 billion this year, according to Brazil-India Chamber of Commerce.
'By his words, actions, and body language during their joint press appearance wanted to convey his personal respect and, more broadly, his desire to work closely with India.'
India and Russia need stronger trade and economic ties, CII President Hari S Bhartia has said.
Elon Musk-led Tesla Inc is yet to express interest in India's flagship scheme to attract global investment in electric vehicle (EV) manufacturing, said Union Minister for Heavy Industries H D Kumaraswamy on Monday. In contrast, multiple global automobile giants -- such as Mercedes-Benz, koda Auto Volkswagen, Hyundai Motor, and Kia Motors -- are keen to participate, the minister noted.
Officials in Beijing said the two countries were on course to meet the new target of $100 billion for 2015, set during Chinese Premier Wen Jiabaos recent visit to New Delhi.
While the value of traded goods on both sides has been much below expectation at about Rs 700,000, Indian traders have also shown reluctance to visit the Renquingang Mart in the Tibet Autonomous Region to sell their products citing non-profitability of the business, the sources said. The number of Indian traders visiting the Renquingang Mart in TAR on a daily basis has been seven at the most, while on some other days a mere one to two, they said.
The rising dependence on discounted crude oil has resulted in India's trade deficit with Russia hitting the second-highest place last year, after China, reveals Department of Commerce data. From April through January 2022-23 (FY23), India's maximum trade deficit was with China, at $71.58 billion. This was followed by Russia, where the deficit expanded sevenfold - from $4.86 billion in April-January of 2021-22 (FY22) to $34.79 billion during the same period in FY23.
Rising bilateral trades, growing consumer wealth and high confidence level will push India to the top league of trading nations.
At the PMO, policies are framed by factoring in analytical perspectives, implications, sustainability, and other dimensions.
India and Iran plan to reach USD 25 billion in annual bilateral trade in the next four years, Indian commerce ministry has said.
While growth in India is largely domestic and hence the overall GDP effect may not be more than 0.15-0.2%, but overall trade will be impacted due to every country going back to the drawing board, points out Madan Sabnavis.
China said on Monday the bilateral trade between the communist nation and India would touch $20 billion in the current year. \n\n
The UK has strongly condemned a security breach involving a pro-Khalistan extremist rushing towards External Affairs Minister S Jaishankar's convoy in London. The incident took place as Jaishankar was leaving the Chatham House think tank on Wednesday evening. The protester was swiftly taken aside by officers of the Metropolitan Police, with no arrests being confirmed so far. The UK said such attempts to "intimidate, threaten, or disrupt" public events are "completely unacceptable". The incident comes after Jaishankar's talks with UK Foreign Secretary David Lammy, during which both leaders covered the entire gamut of bilateral ties, including the relaunched Free Trade Agreement (FTA) negotiations, regional and global issues. The MEA has condemned the security breach and the provocative activities of the "small group of separatists and extremists", calling on the UK to "live up to their diplomatic obligations".
Sri Lanka's capital Colombo will host a five-day India Trade Fair this October in an effort to boost bilateral trade, officials said Monday.
Aiming to further boost bilateral trade ties, India and Myanmar will soon ink a Memorandum of Understanding for the creation of a joint trade committee.
Modi lived up to his declaration that his visit was purely meant to strengthen India's relationship with the US, but there may be situations in which our silence on some issues will haunt us in the future, cautions Ambassador T P Sreenivasan.
The Indian community in Guangzhou has widely welcomed the country's decision to open a Consulate-General in the booming southern Chinese city, which they say will further boost bilateral trade and facilitate easier travel for businessmen between the
Bilateral trade between the two Asian giants had already reached $45 billion in the first nine months of 2010, a 50 per cent increase compared to the same period last year.
Industry associations and companies in the United States, including the US Chamber of Commerce, Coalition of Services Industries and the iconic bike company Harley Davidson have called on the Donald Trump dispensation to push India to reduce tariffs, non-tariffs, and regulatory barriers to boost American exports.
India is preparing to resume the Kailash Mansarovar Yatra, a pilgrimage to Mount Kailash in Tibet, after a three-year hiatus. The decision comes as part of efforts to improve relations between India and China, which have been strained since a military standoff in 2020. The two countries have also agreed in principle to resume flight services between them.
In a statement, the Chinese ministry of commerce said that it would file a lawsuit with the World Trade Organisation against the US for its "wrongful practice," the Global Times reported.
A top Republican lawmaker has welcomed India signing a trade deal with Australia, and urged the Biden administration to enter into a similar arrangement with New Delhi that can advance Washington's strong economic agenda in the strategically vital Indo-Pacific region. "I'm pleased to see #Australia & #India sign a strong trade deal," Senate Foreign Relations Committee Ranking Member Jim Risch said in a tweet. "The US needs to do the same and advance a strong economic agenda in the #IndoPacific. "The Biden Admin's failure to lead hurts US growth and our partnership in the region," Risch said in another tweet.
Moody's Ratings on Tuesday said India has a lower overall exposure to the US relative to others in the APAC region, although certain sectors such as food, textiles and pharmaceutical products face risks. Moody's said most companies in its rated portfolio are domestic-focused with limited exposure to the US market.
India and China will hold the 15th bilateral round of talks in this capital with an agenda to address border claims, visas, cooperation and improve current bilateral trade from $60 billion to $100 billion by 2015.
Singapore's long-ruling People's Action Party (PAP), led by Prime Minister Lawrence Wong, has secured a landslide victory in the country's general election. The PAP won 87 of 97 seats, with voters endorsing the party's focus on stability and economic security amidst global uncertainties. Wong expressed gratitude for the strong mandate and vowed to tackle concerns about the cost of living and housing. The results mark a significant win for the PAP, which has been in power since Singapore's independence in 1965.
Prime Minister Narendra Modi met his British counterpart Rishi Sunak on the sidelines of the G20 Summit in New Delhi on Saturday and discussed ways to deepen trade linkages and boost investment.
'Trump's sons, and the son of Trump's Mideast envoy Steven Witkoff, are in the crypto business and recently signed deals with Pakistan's crypto council.' 'It may not be coincidental that not long before the Trump-Munir meeting, the head of Pakistan's crypto council met with Trump's White House crypto policy czar.'
'For the Indian economy to maintain a growth rate of 7 to 8 per cent, it needs large foreign direct investment coming in, and that's mainly coming from the US.'
Prime Minister Narendra Modi will visit the US for a two-day working visit starting Wednesday. He will meet with President Donald Trump and engage in bilateral discussions on trade, investment, technology, defense cooperation, counterterrorism, Indo-Pacific security, and people-to-people relations. The visit is expected to further strengthen the India-US partnership.
India and Italy on Tuesday set themselves a target of achieving five billion euro of bilateral trade in next two years.
