TRADE DELEGATION
Prioritising India-UK ties, FTA in focus under new PM Keir Starmer
The India-UK FTA talks began in January 2022 but were stalled in the 14th round as both countries stepped into their general election cycles this year. India saw the new government in the first week and on Friday, it was the UK's. "There is no question in my mind that India will continue to be important for the new Labour government," said Rahul Roy-Chaudhury, Senior Fellow at the International Institute for Strategic Studies (IISS).
China's Xi calls for 'bridges' amid trade, diplomatic frictions
Chinese President Xi Jinping has called for the building of "bridges" in the global economy as Beijing grapples with economic, trade, and territorial disputes with neighbours and trading partners. He emphasized that the world's second-largest economy will never leave the road of peaceful development and will not become a "strong" state seeking to dominate others.
Congress seeks dissolution of Nayab Singh Saini-led "minority" BJP government in Haryana
Haryana Congress has called on Governor Bandaru Dattatreya to dissolve the BJP government in the state, accusing it of not having the desired majority. The Congress party, led by Bhupinder Hooda, has demanded the dissolution of the current government and a fresh mandate from the public. The BJP has 41 legislators and the state government has the support of one Haryana Lokhit Party legislator and one Independent legislator.
PM Modi meets US delegations who visited Dalai Lama despite China's objection
Prime Minister Narendra Modi met with a US Congressional delegation on Thursday after their visit to Tibetan spiritual leader the Dalai Lama in Dharamshala earlier this week. The delegation, including former US House of Representatives Speaker Nancy Pelosi, congratulated PM Modi on his third consecutive term and expressed appreciation for India's recent elections.
German deputy leader visits China to manage fears of trade war with EU
Robert Habeck, who has personally spoken out against punitive tariffs as a last resort, took with him a low-key business delegation and will address trade relations while also pressing China on hot-button issues like Russia's war in Ukraine.
India to send high level delegation to Ukraine summit, says Zelenskiy
India will send a high-level delegation to an international summit on Ukraine in Switzerland, following a meeting with Indian Prime Minister Narendra Modi in Italy. The leaders discussed trade, expanding ties, and preparations for the summit.
After Taiwan and trade war, US turns spotlight on China's control of Tibet
Tibet-China Bill: US-China relations are set to face heightened complexity as Tibet becomes a new focal point of contention. Recently, US lawmakers passed a bill challenging Beijing's historical claims over Tibet and advocating for peaceful dialogue between the Chinese Communist Party and the Dalai Lama to resolve the longstanding dispute.
Ebrahim Raisi, a hardline leader who brought Iran closer to China
Before news of Iranian President Ibrahim Raisi’s death emerged, China expressed "deep concern" on Monday after his helicopter went missing. Given China's significant trade ties with Iran and its role as a major buyer of Iranian oil, its concern appears justified. China stated it would closely monitor the situation and offer support to rescue operations. Raisi's efforts to strengthen Iran-China relations included a visit to Beijing last year, marking the first such visit by an Iranian president in two decades.
IMEC: Indian team in UAE discusses start of work on trade route
An Indian delegation visited ports in the United Arab Emirates, including the Port of Fujairah, to discuss kickstarting the India-UAE leg of the proposed India-Middle East-Europe Economic Corridor (IMEC) with customs authorities. The visit aimed at preparing the India-UAE leg of the IMEC while awaiting peace in the region for the Israel part.
Indian delegation holds talks with key entities in UAE on IMEEC
Indian delegation visits UAE to discuss the India-Middle East-Europe Economic Corridor (IMEEC) within 3 months of signing the Framework Agreement. Both sides prioritize cooperation and empowerment for the strategic project aiming at efficient supply routes, cost reduction, job creation, and reducing greenhouse gas emissions.
Russian President Vladimir Putin to push growing Moscow-Beijing trade in China's northeast
Russian President Vladimir Putin concluded his visit to China by highlighting the importance of trade near the border in China's northeast. Amid Western sanctions over the Ukraine invasion, Putin is strengthening ties with China, signing agreements on security and economic cooperation. The joint statement emphasizes the deepening China-Russia relationship and their commitment to mutual development.
Next round of talks for India-Asean trade pact review in July
The discussions for review of AITIGA (Asean-India Trade in Goods Agreement) started in May 2023 to make it more trade-facilitative and beneficial for businesses across the region, the commerce ministry said. A joint committee, which is undertaking the review work, has so far met four times.
China willing to help Indian firms to cater to its market demand: Envoy Xu Feihong
China's new envoy to India, Xu Feihong, has stated that the Chinese market is open to all countries, including India. He emphasized that Beijing understands India's concerns over its burgeoning trade deficit and is willing to help Indian companies tap into the Chinese market. The trade deficit reached USD 101 billion in 2022, crossing the $100 billion mark. Xu reiterated that China understands India's concerns and is not seeking a trade surplus.
Pakistan's benchmark share index rises as much as 1.5%
A Saudi delegation arrived in Pakistan on Sunday for talks on trade and investment opportunities, particularly in the exploration and production sectors.
India, Australia review progress on trade and investment negotiations, discuss way forward for its completion
In the first Joint Committee Meeting (JCM) under India-Australia Economic Co-operation and Trade Agreement (Ind-Aus ECTA), both sides acknowledged the smooth implementation of the ECTA and briefly elaborated on ECTA implementation issues including MRAs on organic products, market access issues related to products like okra, pomegranate, grapes, cottage cheese, macadamia nuts, lentils and avocado.
India, Nigeria agree to early conclusion of local currency settlement system agreement
India and Nigeria have agreed to conclude a local currency settlement system agreement to strengthen economic ties. The agreement, signed during a joint session of the India-Nigeria Joint Trade Committee, aims to promote the use of the Indian Rupee and Nigerian Naira for cross-border transactions. The agreement will enhance bilateral trade and mutually beneficial investments in sectors such as crude oil, natural gas, pharmaceuticals, power, renewable energy, agriculture, education, transport, railway, aviation, and MSMEs development.
Indian official delegation heads for London for FTA talks
Negotiations for the India-UK free trade agreement are in the final stage. A high-level Indian delegation is heading to London to resolve remaining issues on goods, services, and rules of origin. The negotiations cover 26 chapters, including market access, skilled professionals, and import duties. The bilateral trade between India and the UK increased to USD 20.36 billion in 2022-23.
Indo-Canada Chamber of Commerce delegation reaches midpoint, extends invitation to Gujarat CM for Gala event
The Indo-Canada Chamber of Commerce (ICCC) highlighted the progress of its India Mission 2024, led by President Murarilal Thapliyal, in enhancing trade relations between India and Canada. The delegation initiated discussions in Delhi, engaging with policymakers and business leaders at various forums.
Union Minister Piyush Goyal discusses progress of FTA negotiations during meeting with EFTA delegation
Union Commerce and Industry Minister Piyush Goyal held a meeting with the European Free Trade Association (EFTA) delegation led by Swiss State Secretary for Economic Affairs, Helene Budliger Artieda, and Norwegian Minister of Trade and Industry, Jan Christian Vestre, on Wednesday.
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