Union Minister Anurag Thakur on Friday said that the surge in illicit trade is a troubling consequence of globalisation which casts a shadow on the country’s progress toward achieving a 5 trillion-dollar economy. Addressing the 9th edition of FICCI CASCADE’s ‘MASCRADE 2023’, Anurag Thakur said, “Illicit trade, whether conducted through activities like smuggling, counterfeiting, or […]
Based on preliminary trends for July to August 2023, the rise in crude oil prices, the merchandise trade deficit is projected to widen on a QoQ basis to USD 69 to 71 billion in the ongoing quarter, from USD 56.6 billion in Q1 FY2024, said the rating agency Icra in a report. Nevertheless, it is […]
West Bengal Chief Minister Mamata Banerjee and UAE State Minister for Foreign Trade Thani bin Ahmed Al Zeyoudi on Friday held discussions to boost trade relations and exports from West Bengal to the United Arab Emirates (UAE). West Bengal CM Banerjee is on a visit to Dubai as she concluded her Spain visit. According to […]
The United Arab Emirates (UAE) has imposed a ban on fresh meat imports from Pakistan via sea route after fungus was found on meat, according to ARY News. A restriction was imposed when fungus was discovered on meat sent from Karachi to the UAE by a firm. The restriction will be in effect until October […]
India’s merchandise trade deficit in August was wider than expected and stood at USD 24.16 billion, according to a Reuters calculation based on export and import data released by the government on Friday. Economists expected the August trade deficit to be at USD 21 billion, according to a Reuters poll. India’s merchandise exports stood at […]
Prime Minister Narendra Modi on Friday announced that India and Greece agreed to double the bilateral trade by 2030 and upgrade bilateral ties to a strategic level, adding their commitment to the ongoing India-EU trade and investment negotiations as well as for the early implementation of the India-EU Connectivity Partnership. PM Modi, during his daylong […]
The Confederation of All India Traders (CAIT), a trade organisation, encouraged traders to boycott Chinese products over the holiday season in order to cost China Rs 1 lakh crore in trade through the refusal of traders and importers to bring in festive and other goods. On the other hand, traders are anticipated to generate almost […]
According to government data released on Tuesday, China’s trade numbers decreased in July, an indication that the country’s economic recovery was dragging despite efforts by leaders in Beijing to boost development, according to the New York Times. After the United States, China has the second-largest economy in the world, and its exports have now plummeted […]
External Affairs Minister S Jaishankar on Thursday, highlighted four key pillars of cooperation between India and Latin America and the Caribbean (LAC region) and said that the two economies can target USD 100 billion in trade by 2027. Jaishankar also highlighted four key pillars of enhanced engagement namely; supply chain diversification; resource partnerships; sharing of […]
India is at the forefront of global trade facilitation efforts, with an impressive score of 93.55 per cent in 2023 vis a vis 90.32 per cent in 2021, as per the recently released United Nations Economic and Social Commission for Asia Pacific’s (UNESCAP) Global Survey on Digital and Sustainable Trade Facilitation. The 2023 survey covers […]
