Trade Ties

Musk hosts Indian bizmen, says 'open to lowering India-US trade barriers'

Oyo, Flipkart and Aditya Birla Group leaders among entrepreneurs who met with Elon Musk and toured his SpaceX base

First trade agreement under US-Taiwan initiative officially takes effect

The deal includes key commitments aimed at enhancing cooperation in areas such as domestic service industries and the promotion of small and medium-sized enterprises

HSBC, WB's IFC launch $1 bn trade finance programme for emerging markets

The deal aims to support cross-border trade and bolster exports in critical industries

Canada minister assures businesses to support commercial ties with India

Amidst unprecedented diplomatic row between India and Canada, Canadian Trade Minister Mary Ng on Tuesday sought to assure the country's business community that she is committed to supporting the well-established commercial ties between the two countries. I want to reassure our business community that our government remains fully committed to supporting the well-established commercial ties between Canada and India, Ng, the minister of export promotion, international trade and economic development, said in a statement. Our Trade Commissioner Service will continue to assist and provide resources to Canadian companies operating in India, she said as India in an unprecedented step not only recalled its high commissioner from Ottawa but also expelled six of the Canadian diplomats from New Delhi. Let me be clear: Canada stands firmly by its businesses. We will work closely with all Canadian enterprises engaged with India to ensure these important economic connections remain strong, she ...

India-Canada faceoff intensifies: Impact on trade, investment not likely

Experts say that the possibility of a trade deal between India and Canada will remain on the back burner at least while the Justin Trudeau government is in power

India-Canada row: Trade and investment ties unaffected, say officials

The escalation in the diplomatic row between India and Canada will not have an impact on the bilateral trade and investment ties between the two countries, government sources said on Tuesday. They also said that the bilateral trade value is not significant and Canadian funds get route their investments through Singapore, the UAE and the US. "India is a preferred investment destination," they said. Canada is India's one of the primary sources of lentils and now that can come from Australia, they said, adding that Indian students and professionals would also have huge opportunities in different countries. The bilateral merchandise trade between India and Canada actually grew slightly from USD 8.3 billion in 2022-23 to USD 8.4 billion in 2023-24. India's imports from Canada increased to USD 4.6 billion, while exports saw a marginal dip, falling to USD 3.8 billion. During April-July this fiscal, India's exports stood at USD 1.3 billion, while imports were USD 1.37 billion. Think tan

Trade ties with India suspended due to heavy duties': Pak's Ishaq Dar

Foreign Minister Ishaq Dar has said that trade ties between Islamabad and New Delhi have remained suspended since 2019 due to the imposition of "heavy duties by India on imports from Pakistan after the Pulwama attack. In a written reply submitted to the National Assembly on Saturday, Dar, who also holds the deputy prime minister's slot, said: India decided to impose 200 per cent duty on imports from Pakistan, suspended the Kashmir bus service and trade across the Line of Control after the Pulwama attack. According to the Dawn newspaper, Dar was responding to a question by Pakistan Peoples Party lawmaker Sharmila Faruqui seeking details about trade challenges faced by Pakistan in its relations with neighbouring countries, especially India. In March, during a press conference in London, Dar highlighted the eagerness of Pakistan's business community to resume trade activities with India. However, his office later clarified that Pakistan has no plan to resume trade relations with India

Onus on resuming trade ties lies with Pakistan, India must set the terms

India's negotiations must maintain a strategic approach and give concessions that meet its long-term objectives

Pak to 'seriously' consider restoring trade ties with India: FM Ishaq Dar

Pakistan will seriously consider restoring trade ties with India that remained suspended since August 2019, Foreign Minister Muhammad Ishaq Dar has said, indicating a potential shift in diplomatic stance towards the neighbouring nation. Dar made these remarks during a press conference in London following his participation in the Nuclear Energy Summit in Brussels, Geo News reported. He highlighted the eagerness of cash-strapped Pakistan's business community to resume trade activities with India. Pakistani businessmen want trade with India to resume, the foreign minister said on Saturday. Pakistan will consider restoring trade ties with India, he said. We will seriously look into matters of trade with India, Dar was quoted as saying by the Express Tribune newspaper. His remarks indicated a potential shift in diplomatic stance towards India. Pakistan downgraded its diplomatic ties with New Delhi after the Indian government abrogated Article 370 of the Constitution, revoking the spe

Red Sea attacks add urgency to alternate Mideast trade route: Govt

India has taken the first steps with the UAE to begin work on the India-Middle East-Europe Economic Corridor, or IMEC, Sunjay Sudhir said in an interview in Abu Dhabi

Hong Kong eyes stronger economic, trade ties with Thailand to expand role

Hong Kong's leader said Tuesday the city would seek to strengthen its economic and trade ties with Thailand after a meeting with the country's prime minister, as the Chinese financial hub looks for more business opportunities in Southeast Asia. Chief Executive John Lee said at a weekly press briefing that he and Thai Prime Minister Srettha Thavisin agreed during a meeting on Monday that the two sides have good and close relations" and that they would promote more exchanges between their people. Lee's administration wants to expand the city's role in Southeast Asia to boost economic growth for the financial hub after years of COVID-19 restrictions. It aims to position the city as a bridge between mainland China and the international community. Lee said Hong Kong will work to deepen regional cooperation and strengthen its work on economic, trade and investment activities with countries in the Association of Southeast Asian Nations. Since 2010, ASEAN has been the second-largest trading

Clash between India and Canada threatens to hurt trade, investment

A proposed early-stage trade deal is in jeopardy, potentially hurting India's efforts to woo the West and serve as a supply-chain alternative to China

Here's what is at stake as India's relations with Canada take a major hit

On Tuesday, New Delhi dismissed the allegations as "absurd", and asked Canada instead to crack down on anti-India elements operating in its territory

Tense relations may not impact trade ties between India, Canada: Experts

The tense diplomatic relations between India and Canada are unlikely to impact trade and investments between the two countries as economic ties are driven by commercial considerations, according to experts. Both India and Canada trade in complementary products and do not compete on similar products. "Hence, the trade relationship will continue to grow and not be affected by day-to-day events," Global Trade Research Initiative (GTRI) Co-Founder Ajay Srivastava said. Certain political developments have led to a pause in negotiations for a free trade agreement between the two countries. On September 10, Prime Minister Narendra Modi conveyed to his Canadian counterpart Justin Trudeau India's strong concerns about the continuing anti-India activities of extremist elements in Canada that were promoting secessionism, inciting violence against its diplomats and threatening the Indian community there. India on Tuesday announced the expulsion of a Canadian diplomat hours after Canada asked

US, Chinese commerce officials express support for better trade conditions

US Commerce Secretary Gina Raimondo and her Chinese counterpart expressed support Monday for improving trade conditions as Raimondo began a visit to Beijing as part of U.S. efforts to improve chilly relations. Raimondo follows other American officials, including Treasury Secretary Janet Yellen in July, who have visited China in the past three months. They expressed optimism about improving communication but have announced no progress on disputes over technology, security, human rights and other issues that have plunged relations to their lowest level in decades. For its part, Chinese leader Xi Jinping's government wants to revive foreign investor interest in China as it tries to reverse a deepening economic slump. Beijing is ready to work together to foster a more favorable policy environment for stronger cooperation between U.S. and Chinese businesses and bolster bilateral trade and investment," Commerce Minister Wang Wentao told Raimondo. Wang gave no details of possible ...

Goyal, UK SoS Trade Bandenoch discuss further boosting trade relations

While appreciating the efforts of both the CNs, the Ministers desired a good pace of exchanges to be continued with a better understanding of each other's aspirations and sensitivities

Modi meets Egyptian counterpart, discusses deepening bilateral trade ties

Prime Minister Narendra Modi on Saturday discussed deepening trade and economic relations with Egypt in his first meeting with the India Unit, a new group of high-level Egyptian ministers led by his counterpart Mostafa Madbouly. Seven members of the Egyptian Cabinet, led by Madbouly, were present at the meeting with Modi, the first engagement in Egypt, where he arrived this afternoon after a three-day visit to the US. At the outset, the Prime Minister thanked Egypt for setting up the dedicated high-level India Unit and appreciated the government's approach. Discussions focused on deepening cooperation across a range of areas including trade & investment, renewable energy, green hydrogen, IT, digital payment platforms, pharma and people to people ties, External Affairs Ministry spokesman Arindam Bagchi said on Twitter. Egypt has traditionally been one of India's most important trading partners in the African continent. The bilateral trade between the two countries was USD 4.55 ...

Pak PM on two-day visit to UAE to ramp up bilateral economic, trade ties

Pakistan Prime Minister Shehbaz Sharif travelled to the UAE on Thursday on a two-day visit aimed at ramping up bilateral economic and trade ties, just days after the country's powerful Army chief General Asim Munir concluded his trip to the Gulf emirate. Sharif is leading a delegation of key ministers on his third visit to the UAE since becoming prime minister in April last year. He was received by UAE's Minister for Economic Affairs Touq Al Mari at Abu Dhabi airport. "My visit to the UAE is aimed at building on the conversation I have had with H.H. President Sheikh @MohamedBinZayed. We share a resolve & understanding that the continuous efforts need to be made to further strengthen trade, investment & economic relations," Sharif tweeted after landing in the UAE. Pakistan's Foreign Office said on Tuesday that Sharif will meet the UAE president Sheikh Mohammed bin Zayed with a particular focus on advancing economic, trade and investment ties between the two countries. "The two .

India-Australia trade agreement to greatly benefit MSMEs: Piyush Goyal

The interim pact between India and Australia, also known as Economic Cooperation and Trade Agreement (ECTA), has the potential to double bilateral trade to $50 billion in half a decade

India-Australia interim trade deal kicks in today after eight-month wait

The implementation of the interim trade pact, also known as Economic Cooperation and Trade Agreement (ECTA) has the potential to double the bilateral trade between the two countries to $50 billion