Archive for the ‘India’ Category

The United Kingdom and India remain committed to pursuing a comprehensive and ambitious Free Trade Agreement (FTA), as confirmed by an official statement. The two nations are gearing up for the 14th round of negotiations, scheduled to commence this week, with a focus on intricate matters concerning goods, services, and investment.   Several critical topics […]

Economic Policy, India, News

January 8, 2024

Indian Prime Minister Narendra Modi is gearing up to showcase his home state, Gujarat, as a prime investment destination during the Vibrant Gujarat Global Summit scheduled from Jan. 10-12. This high-profile event marks one of Modi’s final endeavors to attract both domestic and foreign investors before facing re-election. The summit is anticipated to host a […]

India, News, Saudi Arabia

September 11, 2023

In a significant development aimed at strengthening economic cooperation between the two nations, India and Saudi Arabia have pledged to fast-track negotiations on the India-Gulf Cooperation Council (GCC) Free Trade Agreement (FTA).   During a special briefing on the State Visit of the Crown Prince and Prime Minister of Saudi Arabia, Prince Mohammed bin Salman […]

India, News, United States

September 11, 2023

The International Trade Council acknowledges the recent data released by the Reserve Bank of India (RBI), stating that the United States has been identified as the foremost contributor of foreign direct investment (FDI) into India for the financial year 2023 (FY23). According to the RBI census, the United States accounted for Rs 8.58 lakh crore […]

India, International Trade, News

September 10, 2023

The International Trade Council is pleased to report on the groundbreaking developments arising from India’s Prime Minister Narendra Modi’s participation in the 20th annual ASEAN-India summit and the 18th East Asia summit, both held in Jakarta on September 7, 2023. The Prime Minister, during his visit, introduced an extensive 12-point proposal aimed at fostering deeper […]

Foreign Investments, India, News

September 8, 2023

India is contemplating changes to its investment policies to encourage foreign inflows into its manufacturing and industrial sectors, according to sources within the Department for Promotion of Industry and Internal Trade (DPIIT). These changes are expected to be part of the ongoing discussions for Free Trade Agreements (FTAs). A Shift in Policy The proposed modifications […]

– In a move to foster international trade relationships and meet global demand, India has announced the allocation of export quotas for non-basmati white rice to Bhutan, Mauritius, and Singapore. The decision was officially communicated by the Indian government in a statement.   Under this allocation, India will permit the export of 79,000 metric tons […]

India, News, Trade and Investments

August 24, 2023

The International Trade Council takes note of Prime Minister Narendra Modi’s address at the G20 Trade and Investment ministerial meeting, where he underscored India’s transition from “red tape” to a more favorable investment climate, emphasizing a shift towards liberalized Foreign Direct Investment (FDI) flows over the past nine years. During the virtual address to the […]

India’s Trade Minister, Piyush Goyal, announced on Thursday that the country has requested Japan and South Korea to reconsider their existing free-trade agreements (FTAs) with India to ensure a more “balanced and equitable” trade relationship. The move comes in response to the widening trade gap between India and the two Asian nations. During an event […]

India, Iran, News, Trade Agreements

May 23, 2023

The International Trade Council (ITC) notes the recent developments between Iran and Indonesia to bolster their bilateral trade relations. The past Iranian calendar year witnessed a trade volume nearing one billion dollars between the two nations. Iran’s export to Indonesia accounted for $847 million, while Indonesia exported $119 million worth of goods to Iran. The […]

Energy Security, India, News

December 5, 2022

The International Trade Council (ITC) acknowledges India’s recent indication that it will continue to prioritize its own energy needs and maintain its purchase of oil from Russia. While recognizing India’s sovereign right to make its energy choices, the ITC emphasizes the importance of considering the ongoing conflict in Ukraine and the potential consequences of supporting […]

Mumbai, India – India is actively exploring the use of dedicated payment mechanisms for trade with Russia, including a potential Rupee-Rouble payment scheme, to enable existing trade obligations in the wake of sanctions imposed on the Kremlin. This move could also open up opportunities for Indian exporters to ramp up sales to Russia, according to […]

London, UK – The International Trade Council has lauded the UK’s first trade agreement with an individual US state, Indiana, as a significant move towards post-Brexit progress. The Memorandum of Understanding (MoU) seeks to enhance the £1.1bn ($1.4bn) worth of goods that Indiana already purchases from the UK. The agreement was signed by UK Trade […]