PRESIDENTS EXPORT COUNCIL
China's Xi Jinping greets EU Council president ahead of EV tariffs taking effect
China's President Xi Jinping conveyed his congratulations to incoming European Council President Antonio Costa, emphasizing the importance of China-EU relations. This comes ahead of the European Commission's decision to impose tariffs of up to 37.6% on Chinese electric vehicles (EVs), citing state subsidies benefiting Chinese firms. Xi reaffirmed China's commitment to its partnership with the EU, rejecting accusations of unfair subsidies on Chinese EVs. The EU faces internal divisions over supporting these tariffs, with Germany leaning towards opposing them due to significant automotive sales in China, while France supports them firmly.
How the Gulf became integral part of India's 'extended neighbourhood' under PM Modi
Earlier, the relationship was focused only on energy, trade and Indian expatriates. That relationship has now evolved into a new framework encompassing political relations, investment, and defence and security cooperation.
How China rose to lead the world in cars and solar panels
Heavy subsidies for industry, together with weak sales in China, have set the stage for an export boom, raising fears of factory job losses elsewhere
Fear of coming change in US sends shock waves down Morbi's famed tiles cluster
Tiles companies allege that a minimum of 25% of US orders have been suspended, with potential for further halts following the petition for anti-dumping duty submission to the US government. This setback comes already reduced demand, attributed to increased duties in Gulf Cooperation Council (GCC) countries and economic deceleration in Europe.
How China pulled so far ahead on industrial policy
The problem for the West, though, is that China's industrial dominance is underpinned by decades of experience using the power of a one-party state to pull all the levers of government and banking, while encouraging frenetic competition among private companies.
How China pulled so far ahead on industrial policy
The problem for the West, though, is that China's industrial dominance is underpinned by decades of experience using the power of a one-party state to pull all the levers of government and banking, while encouraging frenetic competition among private companies.
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Russia’s premier foreign policy forum to focus on BRICS role in shaping global financial architecture
The 'Primakov Readings' Forum in Moscow will discuss BRICS priorities in the context of Russian Presidency of BRICS. The theme is 'Russia in the Global Context' with key attendees like Yury Ushakov and Sergey Lavrov.
Iran plans to raise oil output to 4 mn barrels per day: Tasnim
Iran has approved a plan to increase its oil production to four million barrels per day. This decision was announced by Iran's Tasnim news agency on Sunday. However, no specific time frame was mentioned.
Development path for India will not be the same as that of China: Capacity Building Commission Chairman
As India moves towards the mission of 'Viksit Bharat' and becoming a developed country by 2047, the development path for India will not be the same as that of China as they have a different environment and capabilities, Chairman of the Capacity Building Commission Adil Zainulbhai has said.
If China invades Taiwan, ASML and TSMC can disable chip machines
ASML Holding NV and Taiwan Semiconductor Manufacturing Co. have measures in place to remotely disable chipmaking machines in the event of a Chinese invasion of Taiwan. The US government has expressed concerns about the impact of such an attack on the global semiconductor supply chain. ASML's advanced EUV machines are crucial in this scenario, with TSMC being a major client. The stakes are high as Taiwan produces around 90% of the world's most advanced chips.
View: Iran’s President Raisi, who died in chopper crash, was a failure
Iran president Helicopter Crash: Since the early 1980s, Iranian presidents have reflected the supreme leader's needs. Ebrahim Raisi, close to Ayatollah Khamenei, aimed to restore faith in the Islamic Revolution but failed. His crackdown on female dress codes sparked protests, revealing his lack of popularity. Raisi's death has now opened up new possibilities for succession.
Iran President Raisi dead: How it may impact the region including Israel, oil prices, gold, and stock markets
The death of Iranian President Raisi in a helicopter crash is poised to have significant repercussions, given Iran's longstanding conflicts and alliances in the Middle East. The incident comes amidst escalating tensions between Iran and Israel, raising concerns about regional stability and Iran's nuclear ambitions.
Biden's China tariffs are the end of an era for cheap Chinese goods
Biden's decision this past week to codify and escalate tariffs imposed by Trump made clear that the United States has closed out a decades-long era that embraced trade with China and prized the gains of lower-cost products over the loss of geographically concentrated manufacturing jobs. A single tariff rate embodies that closure: a 100% tax on Chinese electric vehicles, which start at less than $10,000 each and have surged into showrooms around the world but have struggled to crack government barriers to the U.S. market.
Merchandise exports likely to reach $500 bn in FY25, growth of labour intensive sectors a concern: FIEO
FIEO also said that while meeting the ambitious target of $2 trillion exports by 2030, requiring a CAGR of 12.7%, is challenging, it is within reach and can be achieved.
Ukraine says it has checked Russia's offensive in a key town, but Moscow says it will keep pushing
Ukrainian forces have halted a Russian advance in Vovchansk, a key northeastern town near the Russian border, according to Kyiv. However, Moscow insists it has sufficient resources to continue its offensive. Ukraine's President Zelenskyy acknowledged the difficult situation and is bolstering defenses in Kharkiv. Russia aims to create a buffer zone to prevent Ukrainian strikes on Russia. Amid ongoing battles, U.S. Secretary of State Antony Blinken announced a $2 billion arms deal for Ukraine, while NATO urged increased military support for Kyiv.
How China rose to lead the world in cars and solar panels
Top leaders in the United States and Europe have started urging China to reduce its exports to the world and boost its imports.
Pyongyang to deploy new multiple rocket launcher this year: KCNA
North Korea announced plans to equip its military with a new 240mm multiple rocket launcher, marking a "significant change" in its artillery combat capabilities. Leader Kim Jong Un oversaw a live-fire test of the updated rocket system, which Pyongyang says underwent technical upgrades for enhanced defense capabilities. The rocket launcher will be deployed to military units as replacement equipment between 2024 and 2026. This announcement comes amid speculation that North Korea could be ramping up production of artillery and cruise missiles for potential use in Ukraine, where it has bolstered ties with Russia.
Facing delays, exporters seek priority shipment for MSMEs
Indian exporters seek priority shipment for MSMEs at Delhi Airport due to delays caused by Bangladesh transhipment, leading to quadrupled air freight costs. Requests made to suspend transshipment facility for Bangladesh cargo.
Rs 7,000 cr of exports a year: How the small town of Bhadohi in UP became a global carpet powerhouse
Bhadohi, the carpet capital of India, boasts a rich history of carpet weaving dating back to the Iranian master weavers in the 16th century. The town's success lies in its blend of traditional craftsmanship and modern technologies, offering unique handmade carpets to global markets.
Indian diamond jewellery market to grow to US$ 17 bn by 2031
Nirav Bhansali, Convener of National Exhibitions at GJEPC, said, “In the gems and jewellery industry, we are not merely purveyors of luxury; we are guardians of tradition, custodians of culture, and champions of craftsmanship. But in order to honor our rich heritage, we must also embrace the winds of change. Today, we are surrounded by the brightest minds and the most promising talents of our industry."
India's textile exports face second consecutive year of decline amid geopolitical strains
In the fiscal year 2023-24, exports amounted to $34.4 billion, marking a decline of over $1 billion (3%) compared to the previous fiscal year. Additionally, exports saw a significant drop of 16.3% compared to the fiscal year 2021-22, when the country reported exports worth $41 billion, the TOI report stated.
Chinese exports are threatening Biden's industrial agenda
Americans are not alone in their complaints about China's new tide of exports. European leaders have raised similar concerns.
US, European buyers begin asking for source of Indian diamond exports
Indian diamond exporters struggle with rising demands for source declarations from US and Europe, impacting market and exports. Geopolitical tensions add complexity, urging government intervention for resolution and overcoming payment delays from US banks.
Govt to buy 1,650 tonnes of onions from traders for Bangladesh
This will be the first official export of the key kitchen staple from India in more than three months since the country banned its export from December 8 to March 31. In March first week, the Centre allowed export of 64,400 tonnes of onions to countries from which it had received requests through diplomatic channels, government officials said at the time.
China's exports are surging. Get ready for the global backlash
The world's appetite for its goods is welcomed by China, which is enduring a severe downturn in what had been the economy's biggest driver of growth: building and outfitting apartments.
White House AI council meets Monday as legislative action stalls
White House Deputy Chief of Staff Bruce Reed, who will convene the council meeting Monday, said in a statement the federal government had made significant progress in the prior 90 days on AI, saying Biden's "directive to us is move fast and fix things."
White House AI council to meet today as legislative action stalls
White House Deputy Chief of Staff Bruce Reed, who will convene the council meeting Monday, said in a statement the federal government had made significant progress in the prior 90 days on AI, saying Biden's "directive to us is move fast and fix things."
India competent to become global manufacturing hub of gems & jewellery, says Union Min Piyush Goyal
India has the potential to become a global manufacturing hub for gems and jewelry, according to Union Commerce and Industry Minister Piyush Goyal. Speaking at the annual World Jewellery Confederation Congress in Jaipur, Goyal highlighted the significance of the industry to India's economy, with its contribution to annual merchandise exports and employment of nearly 5 million people.
GJEPC’s international jewellery show expects to generate business of Rs 60,000 crore
The sector has been facing a dent in the midst of global headwinds, and anticipates a decline of 10-15% in exports this financial year.
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