International Trade

U.S. President Donald Trump has defended his administration's use of the Alien Enemies Act's wartime powers to rapidly deport over 200 alleged members of Tren de Aragua, a Venezuelan gang linked to kidnapping, extortion, and contract killings. The deportation proceeded despite a court order by Judge James Boasberg blocking it, with the administration arguing that the judge lacked the authority to intervene. Speaking aboard Air Force One, Trump justified the action by comparing the rise in immigration to wartime conditions, emphasizing the deportees were "bad people" now incarcerated in El Salvador. During the same flight from Florida to Washington, Trump also reaffirmed his commitment to imposing tariffs starting April 2, despite market disruptions and economic concerns. He stressed his stance on reciprocal tariffs, stating, "They charge us and we charge them," and confirmed additional tariffs on autos, steel, and aluminum.

India-Singapore bilateral trade grew 18.2% to $35.6 billion in FY 2022-23

In terms of India's exports, Singapore is the sixth largest export destination in the world, and in terms of imports, the city-state is the eighth largest source for India globally during 2022-23.

India negotiating trade pact with EU, UK, Sri Lanka, Peru

With the UK, 13 rounds of talks have been completed and the next round will take place in January 2024.

China: Yuan is finally showing some muscle in international trade

Ignoring the yuan’s rise because of China's recent economic troubles might be a mistake. Thanks to the country’s cumbersome capital controls, sending cash out of China has always been problematic and unpredictable. But that is poised to change now as the country takes small steps towards full capital account convertibility

Developed economies under stress, there is demand slowdown: Piyush Goyal

The minister said that gems and jewellery, textiles, and leather goods, which are India’s strength areas are currently under stress.

International trade in rupee currency soon: Piyush Goyal

The central bank, he said, is in discussion with its counterparts in different nations on this.

US emerges as India's biggest trading partner in FY23 at $128.55 billion; China at second position

Exports to the US rose by 2.81 per cent to USD 78.31 billion in 2022-23 as against USD 76.18 billion in 2021-22, while imports grew by about 16 per cent to USD 50.24 billion, the data showed.

G20: India gears up for trade, investment talks under shadow of Russia's war

The first meeting of the G20 Trade and Investment Working Group began today in India's financial capital, Mumbai. However, developments a continent away may again dominate talks

Europe open for international trade; Doing my utmost to ensure FTA with India: Olaf Scholz

The European Union, within which Germany is among India's biggest trade partners, relaunched negotiations last year with India for a Free Trade Agreement, and launched separate negotiations for an Investment Protection Agreement and an Agreement on Geographical Indications (GIs).

Centre allows rupee settlement in export promotion schemes

The change in the Foreign Trade Policy comes after the Reserve Bank of India had, in July, issued guidelines for the settlement of international trade in Indian rupees

India now aspiring to take international trade to $2 trillion by 2030: Piyush Goyal

Interacting with faculty, researchers, and students at the Stanford University here, Goyal also said by the time India would celebrate the 100th anniversary of its independence, it would be a USD 30 trillion economy.

International trade settlement in rupee may save $36 billion in hard currency for India

RBI's timely intervention on rupee could widen the scope for such trades with countries in the region, easing pressure on the exchange rate, according to exporters.

Exclusive| EU MPs in India to explore early-harvest trade deal

The Chairperson of the European Parliament's Committee on International Trade (INTA) reached India on April 10 with 6 other European Union (EU) parliamentarians. They plan to start talks on a proposed trade deal, under discussion since 2007.

India-Australia deal — Benefits extend beyond trade gains

New Delhi can leverage the economic pact with Canberra to consolidate its geopolitical interest in the Asia-Pacific region

Will intensify efforts to bypass dollar-based payment system: Russian Minister Sergey Lavrov

Soon after holding talks with External Affairs Minister S Jaishankar, he said Russia is exploring ways to bypass impediments for bilateral trade with its allies and partners.

Indian Foreign Trade authority creates helpdesk amid Russia-Ukraine war

The Department of Commerce and DGFT have undertaken the task of monitoring the status and related difficulties being faced by the stakeholders on Russia/ Ukraine trade-related issues.

Climate concerns to play a key role in India’s future trade pacts

India needs to reshape its carbon mitigation policies to extract maximum benefits from bilateral or multilateral trade negotiations

India needs a new narrative on international trade

Focus on export promotion and export orientation in domestic industrial production are necessary building blocks for effecting a paradigm shift in our economic structure

Thai food companies tap into faux-meat boom, plan to expand overseas: Report

So popular is turning jackfruit into mock pork that the company’s initial public offering on October 9 rang in around $51.4 million, and doubled stock in intra-day trade on the debut day itself.

US approves Apache chopper sale worth $930 million to India

Pentagon notifies Congress about USD 930 million Apache helicopter deal, says it would strengthen India's ability to defend its homeland

Canada Trade Min to fast-track FTA talks during India visit

The minister is also likely to take up crucial issues to expedite the proposed foreign investment promotion and protection pact between India and Canada, during his meetings with government's top brass including Finance Minister Arun Jaitley and Commerce & Industry Minister Nirmala Sitharaman.

Services export up 13% at $13.46 bn in May, imports at $7.9 bn

Also, services import in May 2016 increased by 25.4 percent at USD 7.9 billion compared to USD 6.32 billion in the year-ago month.

Ease of doing biz: Country of Origin self-certification

In India currently, CoO under various trade agreements are required to be obtained from agencies designated under the Foreign Trade Policy 2015-2020 (‘FTP‘). A new optional system of self-certification of CoO (Approved Exporter System for Self-Certification of Origin) is being introduced by the Government.

The global downturn has led to new economic nationalism

The global financial crisis has heralded moves to reduce globalisation and greater integration. Growth in trade and cross-border investment, which has underpinned prosperity and development, is being reversed