Australian Trade Envoy Tony Abbott had visited India last week to discuss the trade agreements between the two nations. He described India as an "emerging democratic superpower" and said that this deal would be a sign to the democratic world not to be dependent on China. "Under (PM) Modi, India has revived the Quadrilateral Security Dialogue, and the first in-person Quad summit is expected in this year, said Abbott.
The US has said that India "remains a challenging place" to do business. In its 2021 Investment Climate Statements report, the country's state department urged the Indian government to reduce barriers and bureaucratic hurdles for easy and attractive investment in the country. The report further mentioned the removal of constitutional status from Jammu and Kashmir and the process of the Citizenship Amendment Law.
Courtesy: The Economic Times
India and Canada are likely to restart negotiation over the Comprehensive Economic Partnership Agreement (CEPA), overdue since 2017, in April 2020. A government official stated that several virtual meetings were held between the two countries. Moreover, through CEPA, India aims to boost job opportunities for IT professionals in Canada, enabling easier work visas. Meanwhile, Canada will focus on the expansion of agricultural trade with India… read-more
Courtesy: Money Control
Pakistan PM Imran Khan rejected the Economic Coordination Committee's decision to trade with India on April 1. Reportedly, the ECC on March 31 decided to resume import of cotton and sugar from India after two years. While Pakistan did not cite any reason for the unilateral U-turn, the imports were notably blocked since the Centre scrapped Article 370. The imports were earlier nodded as both armies committed to a ceasefire along LAC.
Courtesy: Hindustan Times
British PM Boris Johnson will be visiting India in April amid the UK's ongoing effort to boost trade relations between the countries. It will be his first major international trip after Britain’s exit from the European Union. Reportedly, Britain aims to zoom in on Indo-Pacific regions as part of its Integrated Review of government policy. Earlier, Johnson was invited to attend India's Republic Day Parade, though he could not come due to COVID… read-more
Courtesy: Indian Express
The Maldives considers breaking its ties with China to have a smooth relationship with other countries including India. Reportedly, the island nation is in plans to scrap the Free Trade Agreement (FTA) with Beijing. The Maldives Economic Minister Fayyaz Ismail opined that the FTA between the Maldives and China is unacceptable and should not have been signed. Further, the finance minister Ibrahim Ameer also called the FTA as "non-existent".… read-more
Courtesy: The Economic Times
On September 21, External Affair Minister S Jaishankar announced the redemption of direct cargo ferry service for the first time between India and Maldives. The service, operated by the Shipping Corporation of India (SCI), will help improve trade relations between the two countries and is planned to run twice a month. Experts opine that the service will reduce the time for transportation of goods, and also be cost-effective.
Courtesy: The Indian Express
In order to offer shorter transits for trade via shipping routes, PM Modi on August 10 said that India will invest Rs 10,000 crore in the construction of transshipment port at Great Nicobar Island. He announced this during the inauguration of the first undersea optical fiber project to provide high-speed internet to the archipelago. The project will ease movement in the busy east-west international shipping routes. … read-more
Courtesy: Cnbc Tv18
A paper by Research and Information System for Developing Countries (RIS) revealed that 327 items which include products like mobile phones, cameras, solar panels, air-conditioners, etc comprise of 3/4th of the total imports India receives from China. According to the UN Comtrade data, the value of these items were 66.6 million USD in 2018 and 76.4 million USD in 2019. The study pointed out that, these products can possibly be manufactured in… read-more
Courtesy: The Times Of India
Amidst the India-China tensions, where India is trying to be more self-dependent, imports from Hong Kong are under scrutiny. The trade deal between India and Hong Kong is on the rise with imports tripling in just four years. While there have been new and stricter rules when it comes to Chinese imports and investments, China is routing exports through Hong Kong.