India's soyabean imports may touch a record 9 lakh tonnes for oil year 2025-26
India's soyabean imports during the oil year 2025-26 ending September are likely to touch a record 9 lakh tonnes, a whopping increase over 0.02 lakh tonnes (lt) last oil year. The sharp increase in imports is due to demand-supply mismatch. The Soyabean Processors Association of India (SOPA) has estimated that till May-end in the current oil year, soyabean imports have touched 6.3 lt, with bulk of them coming in the past four months. Based on the import trend, SOPA has revised the projections and expects imports to touch 9 lt for the year, from the earlier estimates of 6 lt for the year.
Source: thehindubusinessline.com
India's trade with West Asia gradually improving: Commerce Secy.
New Delhi: India's trade with West Asia contracted in May due to disruptions caused by the US-Iran conflict, though it is showing signs of a gradual recovery, a senior official said on Monday. Commerce Secretary Rajesh Agrawal said India's exports to the region had declined in March due to the conflict, but improved in April and further in May, reaching "more or less" the same level as in May last year.
Source: economictimes.indiatimes.com
India, UK working to resolve issues for trade pact implementation
New Delhi: India and the UK are discussing issues hindering the implementation of the free trade agreement, which was signed in July last year, a senior government official said on Monday. Commerce Secretary Rajesh Agrawal said that the Indian team is already in London to take forward the discussions and see that "we are able to operationalise" the deal.
Source: economictimes.indiatimes.com
India, UAE step up efforts to expand Re-dirham trade
More than 15% of the India-UAE trade has been invoiced in local currencies since the formalisation of the rupee-dirham mechanism nearly three years ago, India's top diplomat in the UAE said.
Source: economictimes.indiatimes.com
India has achieved self-sufficiency in food production: CTCRI director.
India has achieved self-sufficiency in food production and has emerged as a global leader in agriculture, the head of CTCRI - an organisation researching tropical tuber crops - said here on Saturday. Dr G Baiju, Director of the Indian Council of Agricultural Research (ICAR)-Central Tuber Crops Research Institute (CTCRI), said that the country had depended on food imports in the 1950s but has later achieved self-sufficiency in food production.
Source: economictimes.indiatimes.com
Basmati rice, tea exports to West Asia come to a grinding halt.
Amid the US-Israel conflict with Iran, exports of basmati rice and tea to West Asia have come to a halt. Exporters said the Strait of Hormuz is shut and three vessels loaded with a total of 100,000 tonnes of basmati rice at Kandla Port have been waiting for the last one week for the route to reopen.
Source: economictimes.indiatimes.com
USTR Greer to travel to India for trade talks, deal possible, senior US official says.
US Trade Representative Jamieson Greer will travel to India the week after the a senior U.S. administration official said on Saturday, saying a trade agreement was possible. Trade would be an issue discussed during President Donald Trump's meeting with Indian Prime Minister Modi during next week's gathering in France, but no agreement on a trade deal was expected at the summit, the official said.
Source: economictimes.indiatimes.com
India's FTAs set stage for $1 trillion export target: Report.
India's new generation of Free Trade Agreements can act as a catalyst for manufacturing expansion, private capex revival and supply-chain integration, with Electronics, Pharmaceuticals and Engineering & Machinery Goods positioned as the strongest beneficiaries. Yes Securities said the agreements, combined with PLI schemes and 'China+1' diversification, give India its clearest shot yet at achieving US$1 trillion in merchandise exports by 2030.
Source: economictimes.indiatimes.com
Assam CM flags off international consignment of GI-tagged Tezpur litchis to Singapore.
In an important step towards increasing the footprints of Assam’s rich horticultural produce in international markets, Chief Minister Himanta Biswa Sarma today ceremonially flagged off the export of a consignment of Geographical Indication (GI)-tagged litchis from Tezpur at the Lokpriya Gopinath Bordoloi International Airport.
Source: economictimes.indiatimes.com
India must expand international trade ties to reach $30 trillion economy vision by 2047: Piyush Goyal.
India must expand its international engagement to realise its vision of becoming a USD 30 trillion economy by 2047, according to Union Minister of Commerce and Industry Piyush Goyal. Speaking at the closing session of the 5th Annual Meeting of the India Global Innovation Connect, the Minister emphasised that India's economic growth is not a zero-sum game. Instead, he argued that the country's trajectory is deeply linked to fostering strategic partnerships with developed nations, which stand to complement rather than compete with Indian industry.
Source: economictimes.indiatimes.com