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Apr 17, 2025 News Image India poised to become a trusted bridge of global connectivity through India-Middle East-Europe Economic Corridor (IMEC): Shri Piyush Goyal.
Union Minister of Commerce and Industry, Shri Piyush Goyal addressed the India-Middle East-Europe Economic Corridor (IMEC) High-Level Roundtable on Connectivity and Economic Growth in New Delhi today. Shri Goyal said that the IMEC is a powerful endorsement of the leadership and partnership of India and Middle East and East Europe a very forward and visionary concept that has caught the fancy of the world, he noted.
 Source:  pib.gov.in
Apr 17, 2025 News Image Indian Institute of Spices Research develops new turmeric variety.
To meet the specific needs of the powdering industry, the ICAR – Indian Institute of Spices Research (IISR) has developed a new light-coloured turmeric variety for the masala industry. Christened as IISR Surya, the new variety features a light-coloured rhizome for the powdering industry. It was developed after extensive research and the new variety is expected to significantly benefit farmers, especially in the production of high-quality turmeric powder.
 Source:  thehindubusinessline.com
Apr 17, 2025 News Image Telangana looks to explore newer export markets for its rice.
After successfully piloting 12,500 tonnes of rice export to the Philippines last month, the Telangana Government now sees a bigger export opportunity. While expanding its export opportunity to the Philippines to 10 lakh tonnes, the State is exploring markets such as Indonesia and Africa.
 Source:  thehindubusinessline.com
Apr 17, 2025 News Image India's trade ties with US goes from strength to strength even as its deficit with China swells.
India's trade and commerce with the US continues to be on a strong footing even as its trade deficit with China widens steadily, latest data made available on April 16 showed. In the fiscal year 2024-25, the United States retained its position as India's largest trading partner for the fourth year in a row, with bilateral trade reaching $131.84 billion. Meanwhile, data revealed that India's trade deficit with China expanded to $99.2 billion during the same timeframe.
 Source:  economictimes.indiatimes.com
Apr 17, 2025 News Image India's organic product exports up 34.6 pc in 2024-25 to USD 665.96 mn in 2024-25.
India's organic product exports rose by 34.6 per cent in 2024-25 to USD 665.96 million in 2024-25 from USD 494.8 million in the previous fiscal on account of increase in demand for items such as pulses, essential oil, fresh fruit and vegetables in developed countries, the commerce ministry data showed. It said that in volume terms, the shipments rose by over 4 per cent to 368,155 tonnes in the last fiscal.
 Source:  economictimes.indiatimes.com
Apr 17, 2025 News Image Global trade to shrink in 2025 due to US tariff war: WTO.
The World Trade Organization (WTO) Wednesday slashed its forecast for merchandise trade for 2025 and said it expects the volume of world merchandise trade to decline 0.2% in 2025- almost three percentage points lower than it would have been without the US-led trade war.
 Source:  economictimes.indiatimes.com
Apr 17, 2025 News Image Unplug China, plug into India: Centre looks to attract US cos planning to exit China.
India is moving swiftly to identify and woo US companies looking to relocate their manufacturing from China, to capitalise on an expected global supply chain realignment across sectors including electronics, toys and pharmaceuticals amid an escalating Sino-US tariff war.
 Source:  economictimes.indiatimes.com
Apr 16, 2025 News Image The cumulative exports (merchandise & services) during FY 2024-25 (April-March) is estimated to grow by 5.50% at US$ 820.93 Billion, as compared to US$ 778.13 Billion in FY 2023-24 (April-March).
India’s total exports (Merchandise and Services combined) for March 2025* is estimated at US$ 73.61 Billion, registering a positive growth of 2.65 percent vis-à-vis March 2024. Total imports (Merchandise and Services combined) for March 2025* is estimated at US$ 77.23 Billion, registering a positive growth of 4.90 percent vis-à-vis March 2024.
 Source:  pib.gov.in
Apr 16, 2025 News Image Mozambique hit a new record for rice imports in 2024.
Record rice imports last year underscore a growing reliance on foreign countries to cover basic food needs in Mozambique. Data from the annual statistical report by the Bank of Mozambique (BdM) – cited by local news website Dossiers & Factos – shows that the country spent US$441 million on rice imports in 2024, an increase of 38.8 percent over 2023, when it imported US$317.7 million worth. The sharp rise is a combination of increasing domestic consumption and decreasing production as Mozambique’s agriculture sector struggles against structural and climatic factors.
 Source:  macaonews.org
Apr 16, 2025 News Image Japan: Finance Ministry calls for increasing tariff-free rice imports.
The Finance Ministry proposed Tuesday that the government expand the minimum access system under which the country imports about 770,000 tons of rice per year at zero tariffs. The ministry made the proposal at a meeting of a subcommittee of the Fiscal System Council, which advises the finance minister, at a time when domestic rice prices are historically high.
 Source:  japantimes.co.jp